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    Godrej Properties Acquires Land in Bengaluru for Luxury Housing

    Opublikowano przez Adam Nowacki włączony 2 stycznia, 2024
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    Realty firm, Godrej Properties Ltd, has made a significant acquisition in Bengaluru by purchasing a 4-acre land parcel for the development of a luxury housing project. The company is confident that this venture will yield a revenue of Rs 1,000 crore through the sale of premium residential apartments.

    Located strategically in Yeshwanthpur, which is known as one of the prime locations in Bengaluru, the project is estimated to have a developable potential of approximately 0.7 million square feet of saleable area, comprising mostly of high-end residential apartments. However, with the addition of another 1-acre of land, Godrej Properties is optimistic that the revenue potential of the project can further increase to Rs 1,250 crore, resulting in a 5-acre land parcel.

    As a part of the renowned Godrej Group, Godrej Properties has solidified its position as one of the leading real estate developers in the country. Gaurav Pandey, MD & CEO of Godrej Properties, expressed his excitement for this acquisition, emphasizing the importance of Yeshwanthpur as a micro market for the company. This new land parcel will undoubtedly strengthen their presence in Bengaluru.

    In line with the current strong demand for housing, Godrej Properties has set ambitious targets to acquire multiple land parcels during the fiscal year, with the aim of generating a revenue of approximately Rs 15,000 crore post-development.

    Frequently Asked Questions (FAQ):

    1. What is the size of the land parcel acquired by Godrej Properties in Bengaluru?
    – Godrej Properties has purchased a 4-acre land parcel in Bengaluru.

    2. Where is the land parcel located?
    – The land is located in Yeshwanthpur, which is considered a prime location in Bengaluru.

    3. What is the estimated revenue potential of the luxury housing project?
    – The project has an estimated revenue potential of Rs 1,000 crore, which can increase to Rs 1,250 crore with the acquisition of an additional 1-acre of land.

    4. Which markets does Godrej Properties focus on?
    – Godrej Properties primarily focuses on the Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, and Pune markets.

    5. What is the sales booking growth achieved by Godrej Properties in April-September 2023-24?
    – Godrej Properties achieved a sales booking growth of 48% in April-September 2023-24, with sales amounting to Rs 7,288 crore.

    The source of the article is from the blog lanoticiadigital.com.ar

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