Godrej Plans Mid-income Residential Project at South Bangalore

godrej properties kankapura road, bangalore
Godrej Properties and APG will jointly invest in a residential project in Bangalore on 18 acres plot off Kanakpura Road in the city.

The special purpose vehicle Godrej home Constructions will be developing a mid-income residential project", the company said in a release. The proposed project will be the fourth investment from the Godrej-APG anchored investment platform. "Bengaluru is one of the leading markets and is important growth region for Godrej Properties," said Pirojsha Godrej MD and CEO Godrej Properties.

Godrej Properties and a consortium led by Dutch pension service provider APG has also entered into an agreement for Rs 1,100 crore investment in residential projects across major cities in India. This was one of the first such partnerships that was forged between any developer and a fund. Godrej Properties and APG had earlier agreed to invest Rs 770 crore in residential projects across major cities in India and the investment platform size was later increased to Rs 1,100 crore.

Godrej Properties currently has 110.30 million sft of township, residential and commercial projects under development across the country.

As per the latest report by Knight Frank the real estate sector in Bangalore is continuing to outperform other sectors. Recently, Realty developer Mahindra Lifespace Developers and an investment arm of Standard Chartered Bank have jointly invested around Rs 450 crore in a residential project in Bangalore.

Drop a line to Abilash if you are interested on the project, we shall keep you updated as we hear.

Source: ET Now