Being instrumental in the construction of Residential, commercial and township projects in the Real Estates sector, Godrej Properties has extended its portfolio of land in Yeshwanthpur, Bengaluru.
As a part of business conglomerate Godrej Group, Godrej Properties is one of the most important real estate developers in the country. By means of this acquisition of an added one-acre parcel in Yeshwanthpur through an outright purchase, this newly acquired land possesses a prospective development area of about 1.40 lakh sq ft which is allotted for the building of high-ended housing units.
In accordance with the regulatory filing of the company, the overall project covers about five years comprising the acquirement of one acre land recently. This acquisition seizes a valued revenue potential of Rs. 10 billion with probability of elevating the revenue to Rs. 12.5 billion.
During the current transaction, the company Godrej Properties bagged a four-acre land parcel in Yeshwanthpur through an out-and-out procurement. In approximate, this Yeshwanthpur project is expected to give up 0.7 million sq.ft of saleable area which is first and foremost factor of featuring the expensive residential apartments.
Commenting on this, Gaurav Pandey, MD & CEO, Godrej Properties says, "Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio”. "Further he adds, “This acquisition will further strengthen the company's presence in Bengaluru”.
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