Stock Report

Godrej Properties buys 16-acres land parcel in Bengaluru's Sarjapur



Posted On : 2021-11-26 09:38:20( TIMEZONE : IST )

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has purchased a land measuring approximately 16 acres at a strategically located and fastest developing micro-market of Sarjapur, (Bengaluru) to develop a mid-income project.

The project is estimated to have a developable potential of approximately 1.5 million square feet saleable area comprising primarily of residential apartments of various configurations.

Sarjapur is one of the most preferred residential locations in Bengaluru and also has excellent connectivity to the IT/ITES belt at Bellandur on Outer Ring Road and several key hubs of the city. The site is strategically located close to the Sarjapur main road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.

Mr. Mohit Malhotra, MD & CEO, Godrej Properties, said, "Infrastructure development in Bengaluru has increased demand for housing, especially from the mid and upper-mid income group. Sarjapur is an important micro market for us and we are happy to add this land parcel to our portfolio. This will further expand our presence in Bengaluru and complements our strategy of deepening our presence in key micro markets across India's leading cities."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2239.85 as compared to the previous close of Rs. 2181.20. The total number of shares traded during the day was 144766 in over 10082 trades.

The stock hit an intraday high of Rs. 2270.00 and intraday low of 2178.65. The net turnover during the day was Rs. 324423538.00.

Source : Equity Bulls

Keywords

GodrejPropertiesLimited INE484J01027 RealEstate LandAcquisition Sarjapur Bengalur MidIncomeProject