PUNE: Godrej Properties Ltd, the real estate development arm of the Godrej Group, has entered into an LLP to develop a residential township project in North Bangalore. This will be developed as a profit-sharing partnership like most other projects by the company.
Located between Bangalore International Airport and Hebbal, the project 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, is spread over 100 acres. Though it will have potential saleable area of approximately 9.4 million sq. ft., proximity to the new international airport may lead to a reduced consumption of FSI.
Pirojsha Godrej, MD & CEO, Godrej Properties, said, “This will be our third township project after our projects in Ahmedabad and Mumbai. We are currently developing several projects in Bangalore, which has been India's best performing real estate market and this new development will substantially strengthen our presence in this important city.”