Godrej Properties added that the land is located near the Satellite Town Ring Road (STRR). The development on this land will primarily comprise plotted units with a development potential of ~ 1.1 million square feet.
Doddaballapur is being deemed as a key region, given its connectivity to the city’s international airport.
Previous Projects
This comes after the company announced the acquisition of 50 acres of residential land in Raipur earlier this week.The property, located close to central Raipur, the railway station, Swami Vivekananda Airport, and the upcoming Raipur–Hyderabad and Raipur–Visakhapatnam expressways, will see the development of a premium plotted residential project with an estimated saleable area of approximately 9.5 lakh square feet.
Godrej Properties, last month, had reported sales worth over ₹2,000 crore during the launch of the first phase of the Barca @ Godrej MSR City in Devanahalli, Bengaluru.
This comes a month after the company announced another acquisition, this time in Pune, where the company acquired 16 acres of land in the city’s Upper Kharadi locality. The Pune project, located close to IT hubs in Viman Nagar, Magarpatta, and Hadapsar, is estimated to have a revenue potential of ₹3,100 crore.
Shares of Godrej Properties ended 2.3% higher on Thursday at ₹2,341. The stock is down 5% in the last one month.
Also Read: Godrej Properties acquires land in Pune with ₹3,100 crore revenue potential
(Edited by : Fatacia on the wall)
