Arvind SmartSpaces Launches New Residential Project in Bengaluru with Rs 600 Crore Potential
Arvind SmartSpaces Limited (ASL) has announced a new residential project in Bengaluru, adding to its growing portfolio in one of India’s largest real estate markets. This project, located on ITPL Road near Whitefield, has a top-line potential of around Rs
Arvind SmartspacesReal EstateBengaluruHighrise ProjectsItpl RoadReal Estate NewsOct 09, 2024
This project marks the 12th overall and 8th high-rise development for ASL in Bangalore. The company has a strong track record of successful joint development ventures, and this new project is no exception. ITPL Main Road, near Whitefield, is a highly desirable location due to its proximity to a metro station and its dense concentration of IT companies and tech parks. The area is also well-served by a range of social and civic amenities, including top-notch schools, hospitals, retail outlets, and commercial spaces.
Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed his enthusiasm about the new project. ‘We are excited to add another high-rise project in Bangalore, further solidifying our position in one of India’s most dynamic residential real estate markets. The ‘Arvind’ brand continues to resonate strongly with both homebuyers and landowners, and we are committed to expanding our presence in Bangalore,’ he said.
The launch of this project follows the acquisition of the high-rise project in Bannerghatta, signed in FY24. With this addition, ASL’s cumulative new business development topline potential for the year has reached around Rs 1,010 crore. The company remains optimistic about the real estate market and is on track to achieve its business plan of adding new projects across Ahmedabad, Bengaluru, and MMR (Mumbai Metropolitan Region).
Arvind SmartSpaces Limited (ASL) is a leading real estate developer known for its high-rise residential projects. Part of the Lalbhai group, ASL has a rich history of delivering quality developments that meet the needs of modern homebuyers. The company’s focus on strategic locations and well-planned communities has earned it a strong reputation in the industry.
The optimism in the real estate market is palpable, and ASL is poised to capitalize on this momentum with its latest project in Bengaluru. The company’s commitment to quality and customer satisfaction is evident in its growing portfolio and the positive reception from both buyers and landowners. With a strong pipeline of projects in key markets, ASL is well-positioned to continue its growth trajectory and make a significant impact in the real estate sector.
Frequently Asked Questions
What is the estimated top-line potential of the new project by Arvind SmartSpaces in Bengaluru?
The new residential project by Arvind SmartSpaces in Bengaluru has an estimated top-line potential of around Rs 600 crore.
Where is the new project located?
The new project is located on ITPL Road, near Whitefield, Bengaluru.
How many high-rise projects has Arvind SmartSpaces completed in Bengaluru so far?
Arvind SmartSpaces has completed 7 high-rise projects in Bengaluru, and this new project will be its 8th.
What is the total estimated saleable area of the new project?
The total estimated saleable area of the new project is approximately 4.2 lakh square feet.
What are the notable features of the location where the new project is situated?
The project is located on ITPL Road near Whitefield, which offers excellent connectivity with a nearby metro station and seamless access to the IT/ITES hub. The area is also well-developed with prominent schools, hospitals, retail outlets, and commercial spaces.
Related News Articles
Elections and Real Estate: How Political Uncertainty Affects the Market
From fluctuating property prices to changes in government policies, elections can have a significant impact on the real estate sector. Here's what you need to know.
Shriram Properties Boldly Expands into Pune with New Joint Development Agreement
Shriram Properties Limited (SPL), a prominent residential real estate developer, has ventured into Pune with a new Joint Development Agreement for a 6-acre plot. This strategic move underscores SPL's commitment to expanding its footprint in key Indian cit
India's Housing Market Poised for Growth with Improved Affordability by 2025
JLL predicts that India's residential real estate market will see improved affordability by 2025, driven by expected RBI interest rate cuts and stable conditions.
Slow Real Estate Recovery: Tax Relief Unlikely, says Sandip Sabharwal
The real estate sector is witnessing a slow recovery, and tax relief seems unlikely in the near future, according to Sandip Sabharwal, a prominent industry expert. While there are some regional opportunities, the overall sector remains cautious.
Aurangabad: Employee Steals Rs 21.59 Crore from Sports Complex, Funds Luxurious Lifestyle
In a shocking scam, a 21-year-old employee of the divisional sports complex in Chhatrapati Sambhajinagar, Harshkumar Anil Kshirsagar, embezzled Rs 21.59 crore and went on a spending spree. He is still on the run, while his accomplices and girlfriend have
Mumbai Property Registrations See 12% Rise in January: Knight Frank India
Mumbai has witnessed a 12% increase in property registrations in January, according to the latest report by Knight Frank India. This positive trend reflects a growing interest in the real estate market as the city continues to attract investors and homebu