Birla Estates purchases a 10-acre Bengaluru land parcel with a view on making Rs. 900 crore in revenue
In Bengaluru, Birla Estates has acquired a piece of land for its fourth project, which is scheduled to be completed by 2023.
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The real estate division of Century Textiles and Industries Limited (CTIL), Birla Estates Pvt. Limited, a 100% wholly-owned subsidiary, recently announced the purchase of a 10-acre plot of land in Raja Rajeshwari Nagar in South Bengaluru. According to the firm, the project has a 1 million square foot development potential and a 900 crore rupee income potential.
The land tract is situated in a developed neighbourhood that is conveniently accessible from both the 10-lane Bengaluru-Mysore Highway and the Outer Ring Road. It is one of the largest land parcels in the area that can be used for vertical construction; it is predominately made up of plots and single homes, and Birla Estates intends to start a high-end residential development there.
One of the largest land lots in this area, it is a wonderful fit for our ambition to provide south Bengaluru residents with LIFEDESIGNED urban premium solutions. According to KT Jithendran, CEO of Birla Estates, "this outright acquisition is in keeping with our ambitious expansion ambitions throughout key markets of Bengaluru, MMR, Pune, and NCR regions.
Birla Estates has so far introduced two projects in Bengaluru: Birla Tisya in Rajajinagar and Birla Alokya in Whitefield. The third project, which was unveiled in the first quarter of 2022, is a planned integrated mini-township in North Bengaluru. The start of both initiatives is anticipated for the following fiscal year.
With new projects planned in each of these markets, Birla Estates now has five residential developments under construction in the National Capital Region (NCR), Bengaluru, and the Mumbai Metropolitan Region (MMR).
