Godrej Properties has acquired land parcels in Bengaluru and Pune, marking a significant expansion. In North Bengaluru's Thanisandra, the company secured a seven-acre plot for a high-end residential project with a built-up area of 9 lakh sq ft, expected to generate INR 1,200 crore. In Pune's Hinjewadi, Godrej acquired 11 acres for a mixed-use development, featuring group housing and retail, with a developable potential of 2.2 million sq ft and estimated revenue of INR 1,800 crore. These strategic moves align with the rising demand for premium housing and commercial spaces in key Indian cities.
Godrej Properties has acquired significant land parcels in both Bengaluru and Pune. These acquisitions highlight the developer's focus on expanding its presence in key cities and catering to the rising demand for premium housing.
Godrej Properties has acquired a strategic land parcel of approximately seven acres in Thanisandra, a fast-growing area in North Bengaluru. This land is earmarked for the development of a high-end residential project. The project is expected to offer a total built-up area of around 9 lakh sq ft, translating to an estimated revenue potential of INR 1,200 crore.
Adding to its recent land acquisition spree, Godrej Properties also secured leasehold rights for an 11-acre land parcel in Hinjewadi, Pune. This land will be used for a mixed-use development featuring group housing and a high-street retail component. The project boasts a developable potential of approximately 2.2 million sq ft and is estimated to generate a revenue of INR 1,800 crore.
These acquisitions come on the heels of Godrej Properties' recent sale of a 5% stake in Godrej Green Homes (GGHPL) to Godrej Fund Management and Investment Advisors (GFMIAPL) for INR 46.70 crore. This divestiture allows Godrej Properties to further streamline its focus on developing premium residential and commercial projects.
Godrej Properties' expansion plans highlight the continued buoyancy of the Indian real estate market, particularly in major cities like Bengaluru and Pune. Thanisandra, specifically, has emerged as a preferred location for residential development due to its proximity to key business districts, improved infrastructure, and the presence of established IT parks. This strategic land acquisition allows Godrej Properties to cater to the growing demand for premium housing in this thriving area. Similarly, the mixed-use development planned in Hinjewadi, Pune, is well-positioned to tap into the city's growing residential and commercial needs.
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