Sumadhura Group Invests Rs 6,000 Crore in Bengaluru Housing Market

New Delhi, January 18 (PTI) - Sumadhura Group, a leading real estate firm, is making a significant investment of around Rs 6,000 crore to develop six new housing projects in Bengaluru. This move is part of the company's strategy to expand its business amid strong demand in the city.

Bengaluru-based Sumadhura Group will launch these six projects during this quarter. According to Madhusudhan G, Chairman and Managing Director of Sumadhura Group, the housing demand in Bengaluru remains robust.

'Housing demand in Bengaluru continues to be strong. We are launching six premium projects, comprising more than 4,000 units that include apartments and residential plots,' Madhusudhan G told PTI.

The investment for these projects is estimated to be around Rs 5,500 to 6,000 crore. These upcoming projects are strategically located in the east and north of Bengaluru and will cover a total of 90 acres of land. They will have a total saleable area of over 8 million square feet.

'We are expecting a total revenue of about Rs 10,000 crore from these six projects,' added Madhusudhan G.

According to real estate data analytics firm PropEquity, housing sales in Bengaluru remained steady at nearly 16,000 units during the October-December period of the last calendar year. This consistent demand has encouraged Sumadhura Group to expand its portfolio in the city.

In the past three decades, Sumadhura Group has delivered 56 projects, comprising over 17 million square feet. The company has a diverse presence in various real estate verticals, including housing, office, warehousing, and co-living. This comprehensive approach has helped the company establish a strong foothold in the real estate market.

The new projects are expected to cater to the growing need for quality housing in Bengaluru, a city known for its rapid urbanization and economic growth. Sumadhura Group's investment is a testament to the city's potential and the company's commitment to delivering high-quality residential options to its customers.