Godrej Properties purchases land parcel in Whitefield, Bangalore for new project

The Mumbai-based real estate developer Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPROP), one of India's leading real estate developers, announced that it has entered into an outright transaction to purchase a well located land parcel in Whitefield, Bangalore.

Spread across approximately 18 acres, this project will offer 0.22 million square meters (2.4 million square feet) of saleable area comprising primarily of residential apartments of various configurations.

Whitefield is the largest commercial and residential real estate market in Bangalore and this land parcel is situated near the proposed metro line connecting Whitefield to Hopefarm Junction. The site is well located and offers an extremely well developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.

Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties said, "We are happy to add this new project in Bangalore. Bangalore is a key market for us and this project fits well with our strategy of deepening our presence across the country's leading real estate markets."

Shares of Godrej Properties Ltd was last trading in BSE at Rs.1205.1 as compared to the previous close of Rs. 1200.1. The total number of shares traded during the day was 11767 in over 926 trades.

The stock hit an intraday high of Rs. 1219.4 and intraday low of 1189. The net turnover during the day was Rs. 14231563.

Source : Equity Bulls

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