Birla Estates buys 10 acre land in Bengaluru; eyes revenue worth ₹900 Crores

Birla Estates Pvt. Limited, a 100 per cent wholly owned subsidiary and the real estate arm of Century Textiles and Industries Limited (CTIL), announced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru.

Published on: Sep 28, 2022, 12:33:51 IST

ANIPosted by Yamini C S

Prefer HTon Google

Share via

Copy link

Birla Estates Pvt. Limited, a 100 per cent wholly owned subsidiary and the real estate arm of Century Textiles and Industries Limited (CTIL), announced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru.

The project has a development potential of 1 Mn sq. ft. with a revenue potential of ₹900 Crores.

The land parcel is located in a well-developed neighbourhood that is easily accessible from the Outer Ring Road as well as the 10-lane Bengaluru-Mysore Highway. It is one of the largest land parcels available for vertical development in the vicinity, dominated by plots and individual houses and Birla Estates plans to launch a premium residential development. This is in line with other land parcels developed by Birla Estates across the company's key markets.

READ | Housing prices in Bengaluru up by 4% in April-June quarter: Report

Commenting on the company's new project, K.T Jithendran, CEO, Birla Estates said, "We are delighted to announce our fourth project in Bengaluru at Raja Rajeshwari Nagar. Being one of the largest land parcels in this location, it is a perfect fit for our vision to create LIFEDESIGNED(c) urban premium options for residents of south Bengaluru. This outright acquisition is in line with our aggressive expansion plans across key markets of Bengaluru, MMR, Pune and NCR regions."

To date, Birla Estates has launched two projects in Bengaluru - Birla Alokya at Whitefield and Birla Tisya in Rajajinagar. The third project, announced in early 2022 is an integrated mini-township project in North Bengaluru. Both the projects are expected to be launched in the next financial year.

READ | Is Bengaluru's Real Estate sector in a freeze?

Currently, Birla Estates has five ongoing residential developments spread across the Mumbai Metropolitan Region (MMR), Bengaluru, and the National Capital Region (NCR) - with new projects planned in each of these markets.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

Get the latest City News, local updates, weather alerts and breaking stories from Bengaluru, Delhi, Mumbai, Hyderabad and other major cities across India on Hindustan Times.