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Real Estate >> News
Godrej Properties adds a New Township Project in Bengaluru
By
siliconindia
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Monday, April 7, 2014
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Bangalore : The Mumbai based real estate developer has entered into a partnership to develop a 100 acre residential township in North Bengaluru Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, has entered into an LLP to develop a residential township project in North Bengaluru.
The project, spread across 100 acres, will offer a potential saleable area of approximately 0.87 million square meters (9.4 million sq. ft.) though its proximity to the new international airport may lead to a reduced consumption of FSI. This project is proposed to be developed as an integrated township with a mix of residential unit types as well as a school, convenience retail, and other amenities to ensure an integrated self-sufficient lifestyle for its residents.
The proposed site is strategically located between the Bangalore International Airport and Hebbal and has easy access to the city from the new signal free corridor created on NH7. The location is in close proximity to several IT parks and schools and is one of the fastest developing areas in the city. As with most GPL projects, this project will be developed as a profit sharing partnership.
Mr. Pirojsha Godrej, MD & CEO, Godrej Properties said, We are happy to have entered into an agreement to develop a large new township in Bengaluru. This will be our third township project after our projects in Ahmedabad and Mumbai and we will seek to create an outstanding destination. We are currently developing several projects in Bengaluru, which has been India's best performing real estate market and this new development will substantially strengthen our presence in this important city. This project fits well with our strategy of developing world class residential projects in key markets across the country.
Sources By : godrej properties
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