Godrej Properties acquires seven acres land in Bengaluru, Real Estate News, ET RealEstate
NEW DELHI: Godrej Properties has acquired about seven acres of land in Thanisandra, North Bengaluru on outright basis, for development of a high-end residential project.
The project has a developable potential of approximately nine lakh sq ft with an estimated revenue potential of about Rs 1,200 crore.
The company recently acquired leasehold rights for about 11 acre land parcel in Hinjewadi, Pune. It plans to develop group housing and high street retail on the said land parcel. The project has a developable potential of approximately 2.2 million sq ft with an estimated revenue potential of about Rs 1,800 crore.
In June, it sold five per cent stake held by it in equity share capital of Godrej Green Homes (GGHPL) to Godrej Fund Management and Investment Advisors (GFMIAPL) at a consideration of Rs 46.70 crore.
