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New high-rise project near Bengaluru's ITPL Road aims for 600 crore revenue: Report

Oct 09, 2024 06:00 PM IST

Arvind SmartSpaces launches new premium residential project in Bengaluru, expanding its real estate presence with a 2.9-acre development.

Realty firm Arvind SmartSpaces Ltd has announced the launch of a new premium residential project in Bengaluru, further strengthening its presence in the city’s thriving real estate market. Located on the bustling ITPL Road, the new development spans 2.9 acres and boasts a total saleable area of around 4.2 lakh square feet, a report said. With a projected revenue of 600 crore, this marks the company's 12th overall project and the eighth high-rise venture in Bengaluru.

The project offers 4.2 lakh square feet and projects a revenue of <span class='webrupee'>₹</span>600 crore.(HT FILE)
The project offers 4.2 lakh square feet and projects a revenue of 600 crore.(HT FILE)

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The project, which is being developed on a joint development basis, benefits from a prime location in one of Bengaluru's most well-connected residential neighborhoods. It offers easy access to key IT hubs and tech parks in Whitefield, making it an ideal choice for professionals working in the area, the report stated. The development is also well-linked to public transport, with nearby metro stations, hospitals, schools, and shopping centers, including Phoenix Marketcity and Whitefield Railway Station.

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Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed excitement about the new launch. “We are pleased to add another high-rise project, reinforcing our position in one of India’s largest real estate markets. The ‘Arvind’ brand continues to be trusted by homebuyers and landowners, and we are on track to achieve our business goals,” he said, as quoted in the publication.

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The launch adds to the firm’s growing portfolio, with the company projecting a total new business development potential of 1,010 crore this year. The company continues to focus on expanding its footprint across major cities like Bengaluru, Ahmedabad, and the Mumbai Metropolitan Region (MMR). This follows their earlier announcement in July about plans to launch projects worth 2,300-2,500 crore by the end of FY25.

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