New projects by Go­drej Prop­er­ties

HT Estates - - FRONT PAGE - Mad­hurima Nandy mad­hurima.n@livemint.com

BEN­GALURU: Go­drej Prop­er­ties Ltd ( GPL) will de­velop three new projects, two in Ben­galuru and one in Noida, in­clud­ing its first plot­ted land de­vel­op­ment.

The Mumbai-based firm has en­tered into a joint ven­ture with Sai Srushti Group to de­velop a 100-acre land par­cel near De­vana­halli Town in north Ben­galuru mark­ing its first plot­ted de­vel­op­ment project, the de­vel­oper said on Thurs­day.

It plans to de­velop around 2.15 mil­lion sq.ft in the project.

Last year, Go­drej Prop­er­ties had said that it was plan­ning to en­ter the plot­ted de­vel­op­ment space and build it as a sep­a­rate ver­ti­cal and as­set class.

The other project in Ben­galuru is a joint ven­ture with the pro­mot­ers of La­hari Mu­sic Group to de­velop 17 acres of land, with the pos­si­bil­ity of fur­ther ex­tend­ing the de­vel­op­ment up to 24 acres, in Elec­tronic City Phase - I, abut­ting the main Wipro Cam­pus in South Ben­galuru.

GPL plans to de­velop a res­i­den­tial hous­ing project of around 1.4 mil­lion sq.ft with an op­tion to in­crease it to 2 mil­lion sq.ft.

With th­ese two projects, GPL would now have 17 projects in the city.

The third project is in the Noida Ex­press­way mi­cro mar­ket, where GPL will de­velop a group hous­ing project, of around 1.7 mil­lion sq.ft, un­der the de­vel­op­ment man­age­ment model in part­ner­ship with Ace Group.

This is GPL’s third project in Noida and 11th project in the Na­tional Cap­i­tal Re­gion (NCR).

“We are happy to add th­ese new projects in Ben­galuru and NCR. This fits well with our strat­egy of build­ing our pres­ence in the coun­try’s lead­ing real es­tate mar­kets. We look for­ward to de­liv­er­ing out­stand­ing projects across th­ese lo­ca­tions,” said Piro­jsha Go­drej, ex­ec­u­tive chair­man, Go­drej Prop­er­ties.

GO­DREJ PROP­ER­TIES LTD (GPL) WILL DE­VELOP THREE NEW PROJECTS— TWO IN BEN­GALURU AND ONE IN NOIDA

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