New Delhi, September 22, 2016: Realty firm Godrej Properties has acquired a 12-acre land parcel in Bengaluru to develop a housing project.
The company plans to develop a housing project covering about one million sq ft area on this land parcel off Sarjapur Road in South Bengaluru, the Mumbai-based developer said in a regulatory filing.
However, it did not disclose the seller or the transaction amount.
The project will be developed in partnership with Godrej Residential Investment Program II. This is the second project under this $ 275 million fund.
“We are happy to add this new project in Bangalore.
Bangalore is a key market for us and we look forward to building a landmark project,” Godrej Properties MD & CEO Pirojsha Godrej said.
Godrej Properties is currently developing residential, commercial and township projects spread across 11.98 million square meters (129 million square feet) in 12 cities.
The company recently entered Noida and Greater Noida markets.