Godrej Properties acquires land for ₹2,500 crore project

Godrej Properties has purchased a 10-acre piece of land in Yelahanka, north Bengaluru. The company plans to develop a large residential project on this site. The project is expected to generate around ₹2,500 crore in revenue. This new development will cover about 1.5 million square feet. It will mainly include premium residential units and some high-street retail spaces. The seller of the land is Indian Hume Pipe Co Ltd, a company that specializes in manufacturing and joining pipes. Rajas Doshi, the Chairman of Indian Hume Pipe, stated that the sale is a key moment for their company. He noted that the deal with Godrej Properties was completed after a competitive bidding process. Both companies see this as a positive step in a strong real estate market.