Godrej Properties has entered into pacts with three different developers to develop three new residential projects across Bengaluru and Noida. Two of these residential projects are going to be developed in Bengaluru and one in Noida.
In a joint venture with Sai Srushti Group, Godrej Properties is planning to develop a 100-acre land parcel on NH-648 near Devanahalli Town in North Bengaluru . This would be Godrej Properties’ first plotted development project and it plans to develop around 2.15 mln sqft in the project, the company said in a release.
“We are happy to add these new projects in Bengaluru 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," said Pirojsha Godrej, Executive Chairman, Godrej Properties.
The second project, again in Bengaluru, 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 Bengaluru.
Godrej Properties plans to develop a modern residential housing project of around 1.4 mln sqft with an option to further increase it to 2 mln sqft. This will be Godrej Properties’ 17th project in Bengaluru.
The third project is in the Noida Expressway micro market. This group housing project in the National Capital Region (NCR) is to be developed by Godrej Properties in partnership with the Ace Group. This project will offer around 1.7 mln sqft of saleable area. This is Godrej Developers’ third project in Noida and 11th project within the NCR.