Godrej Properties Ltd., on November 26, announced that they had bought land measuring around 16 hectares in Sarjapur, Bengaluru to develop secondary income projects.

Both the value of agreement and the seller’s name has been disclosed.

This project is estimated to have a potential that can be developed from about 1.5 million square feet of the sell area consisting of the main housing apartment of various configurations, the company said in a statement.

Sarjapur is a residential location in Bengaluru which has excellent connectivity to the IT / Ites belt in Bellandur in Outer Ring Road and several main hubs of the city. This site is strategically located close to Sarjapur Main Road and offers social and civil infrastructure that is very developed with various schools, hospitals, retail, housing, and nearby commercial space.

“Infrastructure development in Bengaluru has increased housing demand, especially from mid and top income groups. Sarjapur is an important micro market for us and we are happy to add this land parcel to our portfolio. This will further expand our presence in Bengaluru and complement our strategy To deepen our presence in the main micro market in all leading cities in India, “said Mohit Malhotra, MD & CEO, Godrej.