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Birla Estates Pvt Ltd, the real estate arm of Aditya Birla Group, has achieved a significant milestone by selling out phase 1 of Birla Trimaya in Bengaluru within just 36 hours of its launch. The project, located in Devanahalli, North Bengaluru, saw 556 units booked across 52 acres, generating a booking value of Rs 500 crore. Developed in partnership with MS Ramaiah Realty LLP, Birla Estates has set its sights on a revenue of Rs 3,000 crore from this project. This remarkable success reflects the high demand for luxury real estate in North Bengaluru, driven by the influx of global companies and skilled professionals.
The rapid transformation of North Bengaluru from an industrial area to a thriving residential and commercial hub has been remarkable. Two major catalysts for this growth were the construction of the Bengaluru International Airport and the development of the Manyata Tech Park. These developments have led to the emergence of micro markets such as Hennur Road, Jakkur, Yelahanka, and Hebbal.
Currently, land prices in North Bengaluru start at Rs 6,000-8,000 per square foot, while apartment costs range from Rs 10,850 to Rs 17,870 per square foot. Kiran Kumar, Vice-President of Hanu Reddy Realty, noted that residential suburbs like Thanisandra and Hennur have already witnessed a 20 percent price increase. In terms of commercial real estate, inquiries are concentrated around Airport Road (towards Devanahalli) and Doddaballapur, with prices ranging from Rs 7,000 to Rs 10,000 per square foot.
This achievement underscores the growing demand for upscale living spaces in Bengaluru, driven by the city's status as a major tech and business hub. Professionals in search of a high-quality lifestyle are increasingly choosing North Bengaluru as their preferred location.
Birla Estates' success in this project aligns with its broader expansion plans. The company has recently finalized five projects across Bengaluru, Mumbai, Pune, and Delhi, with a combined revenue potential of nearly Rs 9,000 crore. This strategic move positions Birla Estates as a prominent player in India's real estate market.
The achievement of selling out phase 1 of Birla Trimaya in such a short time frame highlights the real estate market's resilience and the continued demand for quality properties in Bengaluru. As the city continues to attract businesses and professionals, North Bengaluru is likely to remain a hotspot for real estate development and investment.
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