Bengaluru-based property developer Century Real Estate is expected to develop eight housing projects spread across an area of more than 55 acres over the next 18 months in the IT Capital, company director for sales, marketing and CRM, Maninder Chhabra, told HT.com. “We bring in financial partners depending on the project,” Chhabra said responding to a query on the source of funding for these projects.
The eight projects, set to be launched in North and East Bengaluru, will offer home units priced over ₹ 1.4 crore. The company did not disclose the anticipated revenue potential or the gross development value of these projects.
Also Read: Century Real Estate sells luxury homes worth ₹ 450 crore during pre-launch of project in Bengaluru However, two of the eight projects - Codename Built Rare in Indiranagar and Codename UnbeLivable in Yelahanka have already fetched ₹ 650 crore into the company's kitty during the pre-launch phase. The projects will be officially launched over the next two months. Codename Built Rare is in fact slated to introduce a new pricing benchmark in Bengaluru’s residential realty market.
With a pricing bracket opening at ₹ 5.5 crore and extending up to ₹ 25 crore, the project is expected to fetch the realty player a total estimated revenue of ₹ 2,200 crore. The 8.
5-acre project will comprise a total of 345 three and four BHK apartments, imperial units, townhouses, as well as penthouses, the company said. “Luxury at the moment is the buzz.
