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Godrej Properties has acquired a 48-acre land parcel in Doddaballapur, North Bengaluru, for a plotted housing project spanning 1.1 million sq ft of saleable area. The outright purchase aligns with the company's strategy of investing in high-growth corridors to develop planned communities. This acquisition follows recent deals in Raipur, Bannerghatta, Whitefield, and Sarjapur Road, highlighting its aggressive expansion in the plotted and mixed-use development space. Demand for plotted homes has surged post-COVID, driven by consumer preference for larger, customizable living spaces. Godrej Properties also posted a record FY 2024-25, with bookings exceeding INR 29,400 crore and 14 successful new project launches.
Godrej Properties has purchased a 48-acre land parcel in Doddaballapur, an upcoming residential zone in the northern part of Bengaluru. The acquisition has been completed on an outright basis and is earmarked for a plotted development project with an estimated saleable area of 1.1 million square feet. Advertisement
Godrej Properties' MD & CEO, Gaurav Pandey, stated that the company is focusing on acquiring land in rapidly developing corridors that offer long-term growth potential and where planned communities can be built for end users and investors alike.
This deal is part of a broader land acquisition spree that Godrej Properties has undertaken in recent quarters. Just days ago, the company announced the acquisition of nearly 50 acres in Raipur, also for plotted residential development. Additionally, the firm has made strategic buys of 62 acres in Bannerghatta, 28 acres in Whitefield, and 12 acres in Sarjapur Road, all within Bengaluru city limits. These projects span plotted layouts, mixed-use developments, and integrated townships.
The Doddaballapur acquisition also aligns with the company's focus on the plotted housing segment, which has witnessed a surge in demand in the aftermath of COVID-19, as buyers seek larger spaces, land ownership, and flexibility in building homes to their own specifications.
Godrej Properties has had a landmark fiscal year. In FY 2024-25, the company reported its best-ever performance, with total bookings crossing INR 29,400 crore. It also recorded the highest-ever collections, deliveries, and cash flow during the same period. Furthermore, it launched 14 new projects and entered into high-potential markets including Pune's Upper Kharadi, where it expects to generate INR 3,100 crore in revenue from a recently acquired 16-acre parcel.
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