Godrej Properties acquires ~7-acre land parcel in Thanisandra, North Bengaluru

Godrej Properties Limited (GPL), one of India’s leading real estate developers, today announced the acquisition of ~7 acres of land in Thanisandra, North Bengaluru on an outright basis.

The development on this land will comprise high-end residential project featuring premium residential apartments of various configurations. The proposed project is estimated to have a developable potential of ~ 9 lakh square feet with an estimated revenue potential of ~ INR 1,200 crore *.

Situated strategically in a high-potential area along Thanisandra Main Road, the land connects northwards to the Kempegowda International Airport, NH44 in the west, and Outer Ring Road in the south.

Thanisandra is a rapidly growing hub for commercial and residential real estate in North Bengaluru, boasting a robust social and civic infrastructure with schools, malls, retail outlets, tech parks and SEZ, and residential-commercial spaces in close vicinity. The area provides good connectivity to Kempegowda International Airport and key social-commercial zones in the city.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “Availability of land parcels and infrastructure development has turned Bengaluru into a mature real estate market with increased demand for residential development. North Bengaluru is an important market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India’s leading cities”.

*  On the basis of the current business assumptions.