Wednesday, February 7, 2024

Embassy Group To Launch A Premium Residential Project In Bengaluru’s Prime Micro Market Of Whitefield

·         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

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.

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