Wedoany.com Report on Mar 19th, Mumbai-headquartered listed real estate developer Godrej Properties said in a regulatory filing on March 18 that it has acquired a 20-acre land parcel near Bengaluru's Whitefield area for developing a residential township project with an estimated revenue potential of about Rs 1350 billion. The company stated that this land parcel is located along the NH-648 corridor in East Bengaluru, a micro-market that has evolved into a residential hub due to its proximity to major IT clusters.
The residential township site is connected to the Whitefield-ITPL area and offers access to major arterial roads linking East and South Bengaluru. The project is also connected to metro stations on the Namma Metro Purple Line, such as Kadugodi and Hope Farm, which serve the city's eastern IT corridor. The company's statement said: "Over the past decade, this micro-market has matured with the development of robust social infrastructure. Residential demand has remained steady, driven by sustained user interest in the mid-to-high-end housing categories." The development of this residential township project will benefit from the area's connectivity and established infrastructure.
Gaurav Pandey, Managing Director & CEO of Godrej Properties, said the company aims to develop a residential township that aligns with the evolving preferences of Bengaluru's homebuyers. He stated: "Homebuyers in Bengaluru continue to prioritize neighborhoods that are thoughtfully designed, offer convenience, comprehensive amenities, and long-term livability. We will strive to create a development that combines quality design, functionality, and an enhanced living experience to meet customer needs." This residential township project will focus on meeting local homebuyers' demands for quality living.
Godrej Properties has recently undertaken land acquisitions in multiple regions. On March 13, the company announced the acquisition of a 44-acre land parcel in Coimbatore, Tamil Nadu, for developing a premium residential township project with an estimated revenue potential of about Rs 45 billion. On March 5, the company emerged as the highest bidder in an e-auction conducted by West Bengal Housing Infrastructure Development Corporation Limited for a 5-acre land parcel near EM Bypass, Kolkata, and acquired 11.36 acres of land in Gurugram, Haryana, through a direct purchase for residential township development. The combined estimated revenue potential of these two acquisitions is Rs 615 billion.
