Godrej Properties to develop 7.5 acres of residential project in Bengaluru

Highlights:

1. The Mumbai-based real estate developer plans to develop a residential housing project of approximately 75,000 square metres (800,000 square feet) in the southern city of India

2. The real estate developer's new residential project is located in a premium residential area with close proximity to the the commercial and industrial catchment areas of Hebbal, Yeshwantpur and Devanahalli

With its aim of expanding presence in Bengaluru, Godrej Properties has announced on Wednesday to develop a 7.5 acres of residential project on Bellary road in the city. 

The Mumbai-based real estate developer plans to develop a residential housing project of approximately 75,000 square metres (800,000 square feet) in the southern part of India, cited the company in a filing to the National Stock Exchange (NSE).

"We are happy to announce the addition of this new project in Bengaluru. Bengaluru is a key growth market for us and this project addition fits with our strategy of expanding our presence in the city," Godrej Properties managing director and chief executive officer, Pirojsha Godrej said in a statement.

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The real estate developer's new residential project is located in a premium residential area with close proximity to the the commercial and industrial catchment areas of Hebbal, Yeshwantpur and Devanahalli.

At 14:47 hours, the stock of Godrej Properties was trading up 0.57% or Rs 2.15 at Rs 377.00 on the NSE.

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