NEW DELHI: Godrej Properties (GPL) has entered into definitive agreements to develop a township project in North Bengaluru under a profit-sharing model.
The estimated booking value from the project is expected to be about Rs 5,000 crore.
Spread across ~62 acres, the project will offer about 5.6 million sq ft of saleable area comprising primarily residential apartments of various configurations.
While an agreement for sale for land including this 62 acres was entered into by GPL in 2014, the development wasn’t able to commence at the time. Over the past few months, the development opportunity has crystallized, and the company now expects to launch the first phase of development on this land in the upcoming financial year.
