Arvind Smart Spaces Announces Rs 400 cr Project on B'ghatta Rd

Bengaluru, NT Bureau: Leading real estate development company Arvind Smart Spaces Limited (ASL), part of the Lalbhai group, on Sunday announced that it has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of over 4.6 lakh sq. ft. and a top-line potential of over Rs. 400 Cr.

This project is located in Bannerghatta Road, Bengaluru. The project is acquired on an outright basis under the HDFC Platform 2. Bannerghatta is the fastest growing residential micro market located in the southern part of Bengaluru on SH87.

It has excellent connectivity to the Bannerghatta Main Road, IT/ITES belt in Electronic City and hosts numerous IT companies and tech parks.

The site is in close proximity to extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.

In addition, it is located close to picturesque hotspots MM Hills, Bannerghatta National Park, St. Marks Cathedral, the Pearl Valley, Meenakshi Mall etc. Commenting on this development, Mr. Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, “Our diversification initiatives addressing both horizontal and vertical developments across Bengaluru and Ahmedabad are progressing well. We are happy to add this high-rise project to our portfolio and this will deepen our presence in a key micro market in Bengaluru.

Bannerghatta Road is a well-established micromarket and this acquisition will further expand the company's presence in South Bengaluru.