Birla Estates unveils two realty projects in Benguluru
Birla Estates has entered the Bengaluru property market with two projects. The move is a part of the Mumbai-based player to create a pan-India portfolio mainly through JVs and a focus on premium housing. After launching its first residential project in suburban Mumbai's Kalyan area, the developer will launch its maiden project in Bengaluru's popular IT corridor Whitefield, for which it has bought 7.8 acres worth ₹66 crore from ESP, a limited liability partnership in land ownership. It will build 218 villas in the price range of Rs 1.2 and ₹2.5 crore. A second residential project in Magadi Road, Bengaluru is currently at the design stage and is a joint development venture between Birla Estates and Subhadra Textiles. The company wants to consolidate operations in NCR, Mumbai, Bengaluru and Pune. Investors are currently out of the market and end-users are driving sales. Consolidation at a massive scale has happened in the realty sector and it is an opportune time for serious corporate developers, with a long-term view, said CEO, Birla Estates, K T Jithendran.
📅Published on:
11 September 2019
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