Godrej Fund buys Bangalore land parcel from Puravankara for Rs.700-Cr

Godrej Fund Management, the real estate-focused private equity arm of the Mumbai-based, publicly listed Godrej Properties, has bought a land parcel, with 1 million sq ft of development potential, in Bengaluru Urban from Bangalore-based, publicly-listed real estate developer Puravankara for around INR 700 crore. The deal includes an upfront payment of around INR 525 crore. The rest will be paid before the end of this year.