Realty major Godrej Properties said on Tuesday it has entered into an outright transaction to purchase a land parcel at Whitefield in Bengaluru.
Spread across 18 acres, the project will offer 0.22 million square metres (2.4 million square feet) of saleable area comprising primarily of residential apartments of various configurations.
Whitefield is the largest commercial and residential real estate market in Bengaluru and the land parcel is situated near the proposed metro line connecting Whitefield to Hopefarm Junction.
The site is well located and offers a well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential and commercial spaces in close proximity.
"Bengaluru is a key market for us and this project fits well with our strategy of deepening our presence across the country's leading real estate markets," said Executive Chairman Pirojsha Godrej.
At 10:30 am, the company's stock was up 2.09 per cent at Rs 1,236 per unit.
( With inputs from ANI )
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