Real estate developer Arvind SmartSpaces Limited, a part of Lalbhai group, on October 9 announced that it has signed a new housing project in Bengaluru, with a total estimated saleable area of approximately 4.2 lakh square feet and a topline potential of around ₹ 600 crore. The project, undertaken on a joint development basis, is located on ITPL Road, near Whitefield in East Bengaluru.
The company did not disclose the joint venture partner’s identity, however, said that it is a local land owner. Also Read: Bengaluru leads office leasing across top 8 cities in Q3 2024; records second highest housing sales at 14,604 units This addition follows the acquisition of the Bannerghatta high-rise project signed in FY24, the company statement said. It added that this would be Arvind SmartSpaces Limited’s 12th overall and 8th high rise project in Bengaluru.
Commenting on the development, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said: “We are happy to add another high-rise project in Bangalore, strengthening our vertical development portfolio in one of India's largest residential real estate markets. Brand ‘Arvind’ continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market.” Also Read: Real estate market trends: Are luxury housing sales sustainable in the long run? With this project addition, the company’s cumulative new business development topline potential for the year stands .
