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Home»Local News»Birla Estates buys 10 acre land in Bengaluru; eyes revenue worth ₹900 Crores | Bengaluru
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Birla Estates buys 10 acre land in Bengaluru; eyes revenue worth ₹900 Crores | Bengaluru

September 30, 2022No Comments2 Mins Read
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Birla Estates Pvt. Restricted, a 100 per cent wholly owned subsidiary and the true property arm of Century Textiles and Industries Restricted (CTIL), introduced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru.

The undertaking has a improvement potential of 1 Mn sq. ft. with a income potential of ₹900 Crores.

The land parcel is positioned in a well-developed neighbourhood that’s simply accessible from the Outer Ring Highway in addition to the 10-lane Bengaluru-Mysore Freeway. It is among the largest land parcels accessible for vertical improvement within the neighborhood, dominated by plots and particular person homes and Birla Estates plans to launch a premium residential improvement. That is according to different land parcels developed by Birla Estates throughout the corporate’s key markets.

READ | Housing costs in Bengaluru up by 4% in April-June quarter: Report

Commenting on the corporate’s new undertaking, Ok.T Jithendran, CEO, Birla Estates mentioned, “We’re delighted to announce our fourth undertaking in Bengaluru at Raja Rajeshwari Nagar. Being one of many largest land parcels on this location, it’s a good match for our imaginative and prescient to create LIFEDESIGNED(c) city premium choices for residents of south Bengaluru. This outright acquisition is according to our aggressive growth plans throughout key markets of Bengaluru, MMR, Pune and NCR areas.”

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

READ | Is Bengaluru’s Actual Property sector in a freeze?

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

This story is offered by BusinessWire India. ANI is not going to be accountable in any means for the content material of this text.

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