Godrej Properties has finalized agreements to develop a significant township project in North Bengaluru, adopting a profit-sharing model. The projected booking value for this venture stands at approximately ₹5,000 crore.
Situated across 62 acres in a prime area of North Bengaluru, the project will boast a saleable area of 5.6 million square feet, primarily comprising premium residential apartments of various configurations.
Although the agreement for the sale of this land, encompassing the 62-acre parcel, was initially made in 2014, development couldn’t commence at that time. However, in recent months, the development opportunity on the land has materialized, and Godrej Properties anticipates launching the first phase of development in the fiscal year 2025.
Strategically positioned in one of Bengaluru’s most sought-after locales, the land offers excellent connectivity to Kempegowda International Airport, an upcoming metro station, various residential and commercial developments, a Special Economic Zone, and essential social infrastructure. Additionally, it provides access to an 8-lane highway connecting to the Central Business District and other key areas of Bengaluru via Outer Ring Road – Hebbal.
Gaurav Pandey, the Managing Director and CEO, expressed enthusiasm about the project, stating, “We are thrilled about the opportunity to develop a large-scale project in a strategic Bengaluru location. Our objective is to construct an exceptional residential community that delivers enduring value to its residents.”
