Godrej Fund Management, a real estate-focused private equity arm of Godrej Group, has signed a strategic partnership with Century Group to develop a commercial project in Bengaluru in a deal valued around Rs. 700 crore.
The proposed office project spread over 10 acres would be located in north Bengaluru and will have a development potential of 2-3 million square feet.
Century Real Estate Holdings, which has the largest land bank of more than 2,500 acres across Bengaluru, is targeting a commercial portfolio of seven million sq ft over the next five years, they said. It plans to build a ₹2,000-crore office platform.
Besides, it plans to look at development in the affordable segment (Rs 50-60 lakh bracket), as the real estate market remains tepid.
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