 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
Realty firm Godrej Properties has acquired 26-acre land parcel in Bengaluru to develop a housing project with an estimated revenue of Rs 1,100 crore.
Godrej Properties is one of the largest developers in the country.
In a regulatory filing on Wednesday, the company informed that it has acquired a prime 26-acre land parcel in South Bengaluru, situated near Sarjapur Road.
"The company plans to develop a premium residential project on this land, with an estimated revenue potential of about Rs 1,100 crore," the company said.
Godrej Properties did not mention the name of the seller or also deal value.
Gaurav Pandey, MD & CEO, Godrej Properties, said: "As Bengaluru continues to consolidate its position as one of India's most dynamic real estate markets, the Sarjapur Road corridor stands out as a key growth hub within the city's evolving urban fabric. The strong performance of our recent projects in this micro-market reflects the depth of demand and the trust customers have in our brand." Godrej Properties has a significant presence in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru and Hyderabad.
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