Published On:March 31 2020
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Godrej Properties buys 82 acre land for Rs. 135 crore from Godrej Agrovet.

Godrej Properties buys 82 acre land for Rs. 135 crore from Godrej Agrovet.

Godrej Properties has entered into a sale deed agreement with Godrej Agrovet for the transfer by way of sale of a land parcel admeasuring about 82 acres situated at Tiruvaranga Village, Hoskote Taluka, Bengaluru, the company informed in a BSE filing on Friday.

The land parcel has been bought for a consideration of Rs. 134.68 crore.

Consequent to the aforementioned transfer, the development management agreement dated June 23, 2016 entered into between the company and GPL, for the joint development of certain parcels of land admeasuring about 100 acres at Tiruvaranga Village, Hoskote Taluka, Bengaluru has been terminated," Godrej Agrovit said in the regulatory filing.

The company had recently acquired 43.61 acres (17.65 hectares) land parcel from BPTP in Faridabad. It also plans to acquire 26.58 acres land in Ashok Vihar, New Delhi from the Railway Land Development Authority (RLDA) for 1,359 crore. The land parcel has approximately 3.28 million sq ft of development potential.

Godrej Properties had acquired three-acre land parcel in Chandivali suburb of Mumbai for Rs. 153 crore from DIC India.

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