Godrej Properties announced that it has entered into an outright transaction to purchase a well located land parcel in Whitefield, Bangalore.
Spread across approximately 18 acres, this project will offer 0.22 million square meters (2.4 million square feet) of saleable area comprising primarily of residential apartments of various configurations.
Whitefield is the largest commercial and residential real estate market in Bangalore and this land parcel is situated near the proposed metro line connecting Whitefield to Hopefarm Junction. The site is well located and offers an extremely well developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity, Godrej Properties said.
Pirojsha Godrej, Executive Chairman, Godrej Properties said, Bangalore is a key market for the company and this project fits well with its strategy of deepening presence across the country's leading real estate markets.
Shares of Godrej Properties settled 0.89% higher at Rs 1,210.75 yesterday. The announcement was made before market hours today, 8 December 2020.
Godrej Properties is engaged in construction and real estate development.
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