NEW DELHI: Godrej Properties Ltd has entered into joint ventures with local developers and land owners to develop three real estate projects in Bengaluru and Noida.
The company has entered into a joint venture with Sai Srushti Group to develop a 100 acres land parcel in North Bengaluru, Godrej Properties said in a statement.
This will be the company’s first plotted development project with about 2.15 million sq ft area.
The second project 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.
Godrej Properties plans to develop a housing project of about 1.4 million sq ft with an option to further increase it to 2 million sq ft.
With addition of these two projects, the company will now have 17 projects in Bengaluru.
Godrej said that the third project is in the Noida Expressway micro market.
It will develop a group housing project under the development management model in partnership with the Ace Group. This project will offer about 1.7 million sq ft of saleable area.
This is the company’s third project in Noida and 11th project within the National Capital Region (NCR).
Pirojsha Godrej, Executive Chairman, Godrej Properties said, the company has added these new projects in Bengaluru and NCR which fits well with strategy of building presence in the country’s leading real estate markets.
Godrej Properties is currently developing residential, commercial and township projects spread across approximately 150.12 million square feet in 12 cities. -PTI
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