India, Nov. 20 -- Godrej Properties Limited on November 20 said that it has acquired an additional ~ 3.8-acre land parcel in South Bengaluru, thereby unlocking Rs.2,400 crore of extra revenue and around 2 million sq. ft. of expanded development potential, the company said in a regulatory filing.

With this acquisition, GPL envisions a large-scale, premium residential community with an estimated total revenue potential of Rs.3,500 crore with around 3 million sq. ft. on the overall ~ 30 acres development, it said.

In October, the company bought a 26-acre land parcel at Sarjapur, Bengaluru to develop a housing project with an estimated revenue of Rs.1,100 crore.

The enhanced potential is largely due to higher FSI permissibility across the ...