Birla Estates Acquires 10 Acre Land Parcel in Bengaluru Eyes Revenue Worth INR 900 Crores



Bengaluru, Karnataka, India:
 Birla Estates Pvt. Limited, a 100% wholly owned subsidiary and the actual property arm of Century Textiles and Industries Limited (CTIL), introduced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru. The venture has a improvement potential of 1 Mn sq. ft. with a income potential of INR 900 Crores.

The land parcel is situated in a well-developed neighbourhood that’s simply accessible from the Outer Ring Road in addition to the 10-lane Bengaluru-Mysore Highway. It is without doubt one of the largest land parcels accessible for vertical improvement in the neighborhood, dominated by plots and particular person homes and Birla Estates plans to launch a premium residential improvement. This is in line with different land parcels developed by Birla Estates throughout the corporate’s key markets.

Commenting on the corporate’s new venture, Mr. Ok.T Jithendran, CEO, Birla Estates mentioned, “We are delighted to announce our fourth project in Bengaluru at Raja Rajeshwari Nagar. Being one of the largest land parcels in this location, it is a perfect fit for our vision to create LIFEDESIGNED© urban premium options for residents of south Bengaluru. This outright acquisition is in line with our aggressive expansion plans across key markets of Bengaluru, MMR, Pune and NCR regions.”

To date, Birla Estates has launched two initiatives in Bengaluru – Birla Alokya at Whitefield and Birla Tisya in Rajajinagar. The third venture, introduced in early 2022 is an built-in mini-township venture in North Bengaluru. Both the initiatives are anticipated to be launched in the subsequent monetary 12 months.

See also  Rita Achrekar Joins QuadReal’s Board of Directors

Currently, Birla Estates has 5 ongoing residential developments unfold throughout the Mumbai Metropolitan Region (MMR), Bengaluru, and the National Capital Region (NCR) – with new initiatives deliberate in every of those markets.

About Birla Estates

Birla Estates Private Limited is a 100% wholly owned subsidiary of Century Textiles and Industries Limited (CTIL), foraying into actual property. The preliminary focus of Birla Estates is leveraging the belief it enjoys, to make a distinction in the sector and add worth to the buyer by way of improvement of premium/larger mid-income residential housing. In the long run, the corporate is concentrated on growing world class residential, business and mixed-use properties and to be amongst the highest actual property corporations in India. Birla Estates will use a capital environment friendly, asset gentle mannequin to supply Joint Venture, ideally in Mumbai, MMR, Pune, Bangalore and NCR – which account for round 70% of the Pan India residential market – and develop the model. The firm’s give attention to effectivity in design, buyer centricity, sustainability and execution excellence will differentiate its choices from these of its rivals. The firm is headquartered at Mumbai and at the moment has regional places of work in NCR and Bangalore. The business has a well- established business portfolio with 2 grade-A business buildings situated in Worli, Mumbai with ~6 lakh sq. ft of leasable space. Birla Estates is engaged on growing the precious portfolio massive of land owned by CTIL. These parcels are situated in outstanding micro-markets of Mumbai – Worli / Prabhadevi / Kalyan, Pune – Talegaon & Bangalore.

See also  Budget Should Focus On Demand Revival For Real Estate: Motilal Oswal Real Estate

Click right here for Media Contact Details

Submit your press launch

Source link


Please enter your comment!
Please enter your name here