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Arvind SmartSpaces Ltd, a prominent real estate development company and part of the Lalbhai Group, is set to embark on a new residential apartment project in Bengaluru. This venture, situated in the bustling micro-market of Bannerghatta Road, Bengaluru, is expected to yield revenues of approximately Rs 400 crore. The project encompasses an estimated saleable area of 4.6 lakh square feet and is acquired under the HDFC Platform 2.
Kamal Singal, the Managing Director and CEO of Arvind SmartSpaces, expressed enthusiasm about this diversification initiative, emphasizing its contribution to the firm's horizontal and vertical developments across Bengaluru and Ahmedabad. He noted that the newly added high-rise project enhances the company's footprint in Bannerghatta, a critical area within South Bengaluru. This strategic acquisition significantly bolsters the company's cumulative new business development topline potential for the year, which now exceeds Rs 2,800 crore.
Bannerghatta Road, the location for this project, is one of the fastest-growing residential micro-markets in southern Bengaluru, known for its excellent connectivity to the IT/ITES belt in Electronic City, Bannerghatta Main Road, and various IT companies and Tech Parks. The area boasts well-developed social and civic infrastructure, including schools, hospitals, retail, and commercial spaces. Additionally, it is in close proximity to several popular landmarks, such as MM Hills, the Bannerghatta National Park, St. Mark's Cathedral, the Pearl Valley, ISKON Temple, Meenakshi Mall, and more.
With the buoyant state of the real estate market, Arvind SmartSpaces is confident that its ongoing business plan, involving fresh investments of Rs 1,000 crore, will make this year a record-breaking one in terms of new project additions. Arvind SmartSpaces Ltd was founded in 2008 and is headquartered in Ahmedabad. It has an extensive real estate development portfolio spanning approximately 60 million square feet across major cities like Ahmedabad, Gandhinagar, Bengaluru, and Pune.
This new project acquisition in Bannerghatta Road not only exemplifies Arvind SmartSpaces' strategic expansion but also reflects its strong commitment to delivering innovative and quality residential solutions in growing markets. The company's focus on both horizontal and vertical developments aligns with the increasing demand for quality housing and the economic growth in these vibrant urban centres.
Additionally, this investment is poised to benefit both homebuyers and the real estate market in Bengaluru. As the city continues to evolve as a technology and business hub, the demand for affordable and well-designed housing in convenient locations is on the rise. Arvind SmartSpaces' commitment to providing value to its customers through diversification and expanding its presence in key micro-markets is evident in this project. This venture is not only anticipated to generate significant revenue but also enhance the overall real estate landscape in Bengaluru.
Arvind SmartSpaces Ltd's latest endeavour in Bengaluru signifies a strategic move to seize opportunities in growing real estate markets. With its firm commitment to quality, innovation, and strategic expansion, it aims to offer the best residential solutions to its customers while contributing to the urban development of Bengaluru and other thriving cities across India. As the company diversifies and expands its presence, it aligns itself with the increasing demand for well-designed and conveniently located housing. In the ever-evolving Indian real estate market, Arvind SmartSpaces continues to be a key player, adding value to the industry and offering attractive opportunities for homebuyers. This project in Bannerghatta Road is yet another testament to the company's dedication to delivering high-quality and innovative housing solutions.
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