Advertisement
The Gulf conflict has disrupted global supply chains, pushed...
REITs have changed the way commercial real estate is owned a...
What does it take to preserve a real estate legacy while bui...
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Sumadhura Group plans to invest around INR 2,000 crore to develop a residential project in Bengaluru’s Whitefield-Kannamangala Corridor. The Bengaluru-based developer has signed a Joint Development Agreement with a landowner for the 17-acre project, which will have around 2.5 million square feet of saleable area. The company sees strong growth potential in the corridor, which has emerged as an important residential market in East Bengaluru. Sumadhura Group has completed 56 projects covering more than 17 million square feet and has over 40 million square feet of projects in its pipeline.
Realty firm Sumadhura Group will invest around INR 2,000 crore to develop a residential project in Bengaluru. The company has signed a Joint Development Agreement (JDA) with a landowner to develop the housing project on a 17-acre land parcel located in the Whitefield-Kannamangala Corridor in East Bengaluru.
A company official said Sumadhura Group will invest around INR 2,000 crore towards construction of the project, which will have approximately 2.5 million square feet of saleable area.
Madhusudhan G, Chairman and Managing Director of Sumadhura Group, said the Whitefield-Kannamangala Corridor has considerable growth potential as development continues across East Bengaluru.
Bengaluru-based Sumadhura Group has completed 56 projects covering more than 17 million square feet and has over 40 million square feet of projects in its pipeline. The company has a presence across residential, office, retail, warehousing and co-living segments.
The company had also announced an investment of around INR 400 crore in June to develop the second phase of Sumadhura Panorama in Devanahalli, North Bengaluru.
The second phase is spread across 34 acres and will comprise around 450 villa plots, each priced at more than INR 1 crore. The first phase offered 550 plots across 50 acres.
Source PTI
Advertisement
Facebook
Whatsapp
