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Bengaluru-based Sumadhura Group plans to invest around INR 6,000 crore to develop six new residential projects in the city, reflecting continued confidence in housing demand, particularly in premium segments. The projects, scheduled for launch during the current quarter, will comprise over 4,000 units including apartments and residential plots. Located across east and north Bengaluru, the developments will span nearly 90 acres and offer a total saleable area of more than 8 million square feet. The company expects to generate around INR 10,000 crore in revenue from these projects. Despite broader market data showing flat quarterly sales in Bengaluru, Sumadhura sees sustained end-user demand. Over the past three decades, the group has delivered 56 projects covering more than 17 million square feet across multiple real estate verticals.
Realty firm Sumadhura Group will invest about INR 6,000 crore to develop six new housing projects in Bengaluru, as it looks to expand operations amid sustained demand for residential properties, a top company official said. Advertisement
Bengaluru-based Sumadhura Group plans to launch all six projects during the current quarter. The developments will comprise more than 4,000 units, including apartments and residential plots.
Housing demand in Bengaluru continues to be strong. We are launching six premium projects, Sumadhura Group Chairman and Managing Director Madhusudhan G told PTI.
He said the total investment in these projects would be in the range of INR 5,500-6,000 crore. The upcoming projects, located in east and north Bengaluru, will have a combined saleable area of over 8 million square feet and will cover around 90 acres of land.
Madhusudhan G said, that they are ecpecting a total revenue of about INR 10,000 crore from these six project.
According to real estate data analytics firm PropEquity, housing sales in Bengaluru remained largely flat at nearly 16,000 units during the October-December quarter of the last calendar year.
Over the last three decades, Sumadhura Group has delivered 56 projects spanning more than 17 million square feet. The company has a presence across multiple real estate segments, including residential, office, warehousing and co-living developments.
Source - PTI
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