Godrej Properties to develop housing project at Bengaluru

Project to offer 8,50,000 sq ft saleable area; firm currently has projects spread across 108 mn sq ft in 12 cities

Realty firm Godrej Properties today said it has entered into a new deal to develop a housing project at Bengaluru.

The proposed project will offer about 79,000 square metres (0.85 million sq ft) of saleable area.

"Godrej Properties, the real estate development arm of the Godrej Group, has entered into a new deal to develop a residential project at Whitefield in Bengaluru," the Mumbai-based developer said in a statement.

As with most Godrej Properties' projects, this project will be developed under a profit-sharing model.

"We are very happy to add a new residential project in Bengaluru. This is our eighth project in Bengaluru and second in Whitefield," said Godrej Properties Managing Director & CEO Pirojsha Godrej.

This development fits well with the company's strategy to strengthen portfolio in leading real estate markets, he added.

Recently, Godrej Properties had announced development of a new 43 acre-township project at Pune in partnership with two other companies.

It also entered into a new deal to develop a residential project at Joka in south Kolkata. The proposed project will offer about 277,000 square metres (3 million sq. Ft.) of saleable area.

At present, Godrej Properties is developing residential, commercial and township projects spread across 108 million sq ft in 12 cities.