Godrej Properties has secured approximately seven acres of land in Thanisandra, North Bengaluru, for the development of a high-end residential project. This new project boasts a developable potential of around nine lakh sq ft and an estimated revenue potential of about Rs 1,200 crore.
In addition to this acquisition, Godrej Properties recently obtained leasehold rights for an 11-acre land parcel in Hinjewadi, Pune. The company plans to develop group housing and high street retail on this site, with a developable potential of approximately 2.2 million sq ft and an estimated revenue potential of around Rs 1,800 crore.
In June, Godrej Properties sold a five percent stake in Godrej Green Homes (GGHPL) to Godrej Fund Management and Investment Advisors (GFMIAPL) for Rs 46.70 crore.
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