Godrej Properties has entered into definitive agreements to develop a large township project in North Bengaluru under a profit-sharing model. The estimated booking value for the project is ₹5,000 crore.
Spread across 62 acres and located in a prime area of North Bengaluru, the project will offer 5.6 million square feet of saleable area, comprising primarily premium residential apartments of various configurations.
The company said that while an agreement for sale for land, including this 62 acres, was entered into in 2014, the development wasn’t able to commence at the time. Over the past few months, the development opportunity on the land has crystallised, and it now expects to launch the first phase of development on this land in FY25.