Company estimates potential of 1.5 million sq.ft. of saleable area

Godrej Properties Ltd. (GPL) said it has purchased 16 acres of land at Sarjapur in Bengaluru to develop a mid-income home project.

The project is estimated to have a potential of 1.5 million square feet of saleable area comprising primarily of residential apartments of various configurations.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “Infrastructure development in Bengaluru has increased demand for housing, especially from the mid and upper-mid income group. Sarjapur is an important micro market for us, and we are happy to add this land parcel to our portfolio.”

The new addition would further expand GPL’s presence in Bengaluru and complement its strategy of deepening its presence in key micro markets across leading cities in India, he added.

According to the realty firm, Sarjapur is one of the most preferred residential locations in Bengaluru with connectivity to the IT/ITES belt in Bellandur on Outer Ring Road and several key hubs of the city. The site is strategically located close to the Sarjapur main road, and offers a well-developed social and civic infrastructure with schools, hospitals, retail, residential, and commercial spaces in close proximity.

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