Godrej Township North Bangalore

Published on April th , 2014
godrej township north bangalore,godrej properties bangalore,townships in bangalore,real estate news,trsnds
Godrej Properties Ltd. (GPL), the real estate development arm of the Godrej Group, has entered into an LLP to develop a residential township project in North Bengaluru.

The project, spread across 100 acres, will offer a potential saleable area of approximately 0.87 million square meters (9.4 million sq. ft.) though its proximity to the new international airport may lead to a reduced consumption of FSI (Floor Space Index). This project is proposed to be developed as an integrated township with a mix of residential unit types as well as a school, convenience retail, and other amenities to ensure an integrated self-sufficient lifestyle for its residents.

The proposed site is strategically located between the Bangalore International Airport and Hebbal and has easy access to the city from the new signal free corridor created on NH7. The location is in close proximity to several IT parks and schools and is one of the fastest developing areas in the city. As with most GPL projects, this project will be developed as a profit sharing partnership.

Pirojsha Godrej, MD & CEO, Godrej Properties said, "We are happy to have entered into an agreement to develop a large new township in Bengaluru. This will be our third township project after our projects in Ahmedabad and Mumbai and we will seek to create an outstanding destination. We are currently developing several projects in Bengaluru, which has been India's best performing real estate market and this new development will substantially strengthen our presence in this important city. This project fits well with our strategy of developing world class residential projects in key markets across the country."

Abilash Reddy at Bangalore Nest - We think this is one of the major factors to balance real estate growth of Bangalore. Unlike other cities where Chennai real estate is highly focussed on South Chennai OMR and Hyderabad more towards hi-tech city, Bangalore has see more even growth in all corners of North, East and South.

Launch of Godrej Township is likely to bring down the hype of over-priced Hebbal as NH7 is well connected with signal free corridor. The launch of Hinduja and Godrej townships is a positive sign to balance pricing in North Bangalore. Projects in other regions may slow down on aggressive high pricing to avoid drop in sales volume.

The flip side, rate of appreciation would slow down in other areas of Bangalore as the focus shifts towards these townships.

North Bangalore would witness 3 mega townships in the coming years;
Hinduja Township , Mantri Township near Manyata and the Godrej Township