After purchasing land in Pune, Birla Estates has recently acquired land in Bengaluru. We learned a couple of months ago that Birla Estates had acquired land in Central Pune, and only recently, we learned that Birla Estates had acquired 28.6 acres land parcel in Bengaluru with Plans for doing a massive residential project.
The value of land in India is steadily increasing, and the country's real estate sector is seeing good growth. For the past few months, the well-known and reputed real estate company Birla Estates has been grabbing opportunities to launch large luxurious residential projects in prime locations. It has been reported that they have purchased land in Bengaluru and are making preparations to launch a luxurious project there.
Birla Estates is planning on constructing a new luxurious residential project in Bengaluru.
The company made the announcement on Monday that it has acquired a parcel of land in Bengaluru of 28.6 acres for the purpose of constructing the new luxurious residential project. They went on to say that the project would bring in somewhere around 3,000 crores of rupees in income. In addition to this, they will have residential apartments in addition to easily accessible retail areas. The site is situated on Sarjapur Road, which is a part of Bengaluru that is undergoing smooth development. However, the specifics of this transaction have not yet been made public.
Birla Estates' current CEO and Managing Director believe that the company's upcoming Grade-A residential community would serve as a new destination for urban professionals living in the surrounding region. He also noted that they believe the location has a significant amount of potential to become the subsequent IT hotspot in the world.
Regarding the residential housing market in Bengaluru, the business intends to develop luxury residential flats complete with contemporary conveniences and open terraces that look out over the surrounding landscape. The project will be tailored to accommodate participants of various ages. There will also be pathways, gardens, and parks in addition to this!
Other Acquisitions Made By Birla Estate
In line with its expansion plan, Birla Estates has just acquired a piece of land in Pune that spans 5.7 acres and can accommodate the construction of a residential complex with an estimated price income of 2,500 crores. The company also acquired a great piece of land in South Mumbai with the planning of developing a luxury apartments project there. It is anticipated that the project will bring in an income of about 600 crores.
Century Textiles and Industries Limited has a wholly owned subsidiary known as the Birla Group Pvt Ltd. In addition to developing its own real estate, the firm also participates in joint ventures and makes direct property acquisitions in order to expand its land holdings for the future construction of residential and commercial buildings. In addition to Bengaluru, they have active projects in other cities around India, including Mumbai, Pune, Gurugram, Noida, Hyderabad, and Delhi. Buyers and Residents of Bengaluru are anxiously anticipating the new residential apartments, even though the specifics still need to be declared.
Source- Online.