Godrej adds 2 housing projects in Bengaluru, Gurgaon

NEW DELHI: Godrej Properties today announced expanding in Bengaluru and Gurgaon markets by adding two housing projects comprising 1.6 million sq ft of saleable area.

The real estate arm of the Godrej group said it has added a new group housing project in Gurgaon.

"This project will offer approximately 98,000 square meters (approximately 1.05 million sq ft) of saleable area and will be developed as a modern group housing development," the Mumbai-based developer said in a statement.

This is company's 11th project within the National Capital Region (NCR) market where it entered 5 years ago.

"This fits with our strategy of building our presence in the country's leading real estate markets. We look forward to delivering an outstanding project," said Pirojsha Godrej, Executive Chairman, Godrej Properties.

In a separate statement, the company said it has signed a development management agreement for a premium group housing project on Magadi road in West Bangalore.

"This project will offer approximately 58,000 square meters (approximately 6,00,000 sq ft) of saleable area," it said, adding that this is company's first project in the micro market of West Bangalore and 11th project in Bangalore.

"Bangalore is a key market for us and this project addition fits well with our strategy of expanding our presence across the country's largest real estate markets," Goderj said.

The company did not disclose the name of companies or land owners with whom it has tied up to develop these two projects.

It is currently developing residential, commercial and township projects spread across 136.34 million sq ft in 12 cities.