Godrej Properties signs JV for residential project in Bengaluru

Godrej Properties on Friday said that it has entered into a joint venture with Royale Builders and Developers to develop a 13-acre land parcel on Bellary Road in North Bangalore. It plans to develop 1.34 million sq ft residential project on the plot.

It is the company’s fifteenth project in Bengaluru.

Pirojsha Godrej, executive chairman, Godrej Properties said, “Bengaluru is a key market for us and this project addition fits well with our strategy of expanding our presence across the country's largest real estate markets.”

On Thursday, it announced a development management contract with Manyata Developers of Bengaluru to develop a residential project in Bengaluru.

On 14 September, it forged a JV with Mumbai based real estate company Nirmal Ventures to develop a 2.1 million sq. ft residential project on 14 acres in Thane near Mumbai.

 Before the Nirmal deal, Godrej bought a 14.8-acre land on Dwarka Expressway from BPTP under the Godrej Residential Investment Program II (GRIP-II), a $275 million fund.