The Mumbai-based real estate developer Godrej Properties Limited (GPL) (BSE scrip id: GODREJPRP), one of India's leading real estate developers, announced that it will develop a 7.5 acres land parcel on Bellary road (NH-7) in North Bangalore. Godrej Properties plans to develop a residential housing project of approximately 75,000 square metres (800,000 square feet).
The project is located in a premium residential area, with close proximity to the commercial and industrial catchment areas of Hebbal, Yeshwantpur, and Devanahalli. It also offers good connectivity to Outer Ring Road, Bangalore International Airport, and the Central Business District. The Bellary road micro-market has emerged as one of the fastest growing residential areas of Bangalore with a lot of infrastructure developments and projects coming up in the area.
Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, "We are happy to announce the addition of this new project in Bangalore. Bangalore is a key growth market for us and this project addition fits with our strategy of expanding our presence in the city."
Shares of Godrej Properties Ltd was last trading in BSE at Rs.377.85 as compared to the previous close of Rs. 372.95. The total number of shares traded during the day was 32988 in over 1086 trades.
The stock hit an intraday high of Rs. 384.45 and intraday low of 371.8. The net turnover during the day was Rs. 12463474.