Embassy Group has finalized a joint development agreement for 3.75 acres of land in Whitefield, Bengaluru, aiming to introduce a premium residential project with an estimated revenue potential of INR 550 crore. The project will offer approximately 400 apartments across various configurations, with modern amenities and timeless aesthetics catering to millennials. Envisioned for Q4 FY24 launch, the development spans 5.4 lakh sq ft of saleable area and targets the growing demand from young professionals in the IT sector. Additionally, Embassy Group plans to launch INR 5,000 crore worth of inventory in the upcoming year to meet the demand for luxury living spaces.
Embassy Group has recently finalized a joint development agreement for a 3.75-acre parcel of land in the thriving locality of Whitefield, Bengaluru, aimed at launching a high-end residential project. This development venture is projected to yield an estimated revenue of approximately INR 550 crore.
Spanning across an expansive area of about 5.4 lakh square feet, the project is envisioned to comprise roughly 400 apartments, featuring a mix of 2 BHK, 2.5 BHK, and 3 BHK configurations. Anticipated to be operational by the fourth quarter of FY24, this project underscores Embassy Group's strategic move to capitalize on the growing demand for premium living spaces in the dynamic real estate market of Bengaluru.
The premium residential project slated for development in Whitefield, Bengaluru, is strategically located along the bustling Whitefield Main Road, offering convenient access to essential amenities and connectivity hubs. Boasting a strategic location near Hoodi Junction, the project aims to cater to the diverse lifestyle needs of modern homebuyers, with easy access to hospitals, schools, banks, employment centers, and retail destinations.
Furthermore, the project benefits from seamless connectivity via the Metro Purple Line's East-West corridor, enhancing accessibility to various parts of the city and ensuring unparalleled convenience for residents.
Designed to appeal to the discerning tastes of contemporary homebuyers, the residential units within the project will feature future-forward living, blending modern design elements with functional efficiency and timeless aesthetics. Featuring expansive living spaces illuminated by natural light, large windows, and scenic balconies offering panoramic views, these residences are poised to redefine luxury living standards in Bengaluru's real estate landscape.
As part of its strategic pivot towards the residential asset class, Embassy Group has earmarked over INR 2,000 crore for occupancy-certificate-compliant projects slated for possession in the current fiscal year. Additionally, the company is committed to launching approximately INR 5,000 crore worth of new inventory in the upcoming year, underscoring its unwavering commitment to meeting the evolving demands of the luxury real estate market and offering unparalleled living experiences to its discerning clientele.
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