NEW DELHI: The Mumbai-based real estate developer Godrej Properties Ltd. (GPL) has announced the addition of three new projects, two in Bangalore and one in Noida.
GPL has entered into a joint venture with Sai Srushti Group to develop a 100 acres land parcel on NH-648 near Devanahalli Town in North Bangalore. NH-648 is a major highway connecting all primary markets of Bangalore from West to South. This shall be Godrej Properties’ first plotted development project and it plans to develop approximately 2 lakh square meters (2.15 million sq. ft.) in the project.
North Bangalore has emerged as one of the fastest growing markets of Bangalore with multiple infrastructure and real estate projects coming up in the area. The site is in close proximity to Bangalore International Airport and the planned Aerospace SEZ and IT & Hardware Park, Devanahalli. It offers good connectivity to the key commercial and industrial catchment areas of the New Airport Road and Outer Ring Road. This will be GPL’s sixteenth project in Bangalore.
The second project, also in Bangalore, is a joint venture with the promoters of Lahari Music Group, south India’s biggest music group, to develop 17 acres of land, with the possibility of further extending the development up to 24 acres, in Electronic City Phase – I, abutting the main Wipro Campus in South Bangalore. Godrej Properties plans to develop a modern residential housing project of approximately 1.3 lakh square meters (1.4 million sq. ft.) with an option to further increase it to 2 million sq. ft.
The Electronic City micro-market has emerged as one of the fastest growing markets in Bangalore with a lot of infrastructure developments and real estate projects coming up in the area. The site is next to offices of several leading companies including Wipro, HCL, and Infosys. It offers good connectivity to the Electronic City flyover, Nice Ring road, Silk Board junction, Hosur main road via Wipro avenue road, and the upcoming E-city Metro Station. This will be GPL’s seventeenth project in Bangalore.
The third project is in the Noida Expressway micro market. GPL will develop a Group Housing Project under the Development Management model in partnership with the Ace Group. This project will offer approximately 1.6 lakh square meters (approximately 1.7 million sq. ft.) of saleable area and will be developed as a modern group housing development. This project is located in one of the most promising locations in Noida with easy access from the Noida Expressway and Noida metro.
This is GPL’s 3rd project in Noida and 11th project within the National Capital Region (NCR). Within seven years of entering the NCR market, GPL has established itself as one of the market leaders in Gurgaon and hopes to replicate this success in other parts of NCR.
Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add these new projects in Bangalore and NCR. This fits well with our strategy of building our presence in the country’s leading real estate markets. We look forward to delivering outstanding projects across these locations.”