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· Enters into a joint development for 3.75-acre land with a 5.4 lakh square feet saleable area; the project has a revenue potential of Rs. 550 Crore
6th February, 2024, Bengaluru | Embassy Group, one of India’s leading real estate developers, announced today that it had inked a joint development pact for 3.75 acres of land in Whitefield to launch a premium residential project. Designed for millennials with cosmopolitan mindsets, the project will offer future-first housing that blends modern efficiency, unparalleled amenities, and timeless aesthetics. It will have an estimated revenue potential of around Rs. 550 crore.
The land, strategically located on Whitefield Main Road, is also close to Hoodi Junction and will cater to a global lifestyle with the area’s booming social infrastructure comprising of hospitals, schools, banks, employment hubs, and malls and shopping centres. With easy access to public transport and recent connectivity through the East-West corridor of the Metro Purple Line, the project is well-linked to the rest of the city.
Encompassing about 5.4 lakh square feet of saleable area, including approximately 400 apartments (comprising 2 BHK, 2.5 BHK, and 3 BHK), the units will feature natural lighting and ventilation, large windows, and balconies with expansive views. The project is expected to go live by Q4 FY24 and will cater to the housing demand from young professionals of the booming IT and ITeS sector in the area.
A part of Embassy’s ongoing pivot towards the residential asset class, the Group has over Rs. 2,000 crore of OC-compliant projects ready for possession this year. Additionally, they are looking to launch around Rs. 5,000 crore of inventory in the coming year to meet the existing demand for premium and luxury living spaces.
About Embassy Group
Embassy Group is a leading real estate developer. The over 70 million square feet of commercial, residential, industrial and warehousing, hospitality, services, retail, and education spaces we have delivered emphasise high standards of quality, world-class services, environmental management, and safety. Founded in 1993, our operations now span the Indian and international markets of Bengaluru, Chennai, Hyderabad, Thiruvananthapuram, Mumbai, Pune, the NCR, Serbia, and Malaysia. Our 45 million sq. ft. of ready and ongoing residential developments encompass branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments, senior living, and contemporary homes. Embassy was a sponsor of India’s first publicly listed and Asia Pacific’s largest Real Estate Investment Trust (REIT). We strive to build a resilient ecosystem and proactively foster the social, economic, and environmental developments of the communities we work in. Further information is available at www.embassyindia.com.