New high-rise project near Bengaluru's ITPL Road aims for ₹600 crore revenue: Report

Arvind SmartSpaces launches new premium residential project in Bengaluru, expanding its real estate presence with a 2.9-acre development.

Published on: Oct 9, 2024, 18:00:05 IST

By Yamini C S

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Realty firm Arvind SmartSpaces Ltd has announced the launch of a new premium residential project in Bengaluru, further strengthening its presence in the city’s thriving real estate market. Located on the bustling ITPL Road, the new development spans 2.9 acres and boasts a total saleable area of around 4.2 lakh square feet, a report said. With a projected revenue of ₹600 crore, this marks the company's 12th overall project and the eighth high-rise venture in Bengaluru.

The project offers 4.2 lakh square feet and projects a revenue of ₹600 crore. (HT FILE)

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The project, which is being developed on a joint development basis, benefits from a prime location in one of Bengaluru's most well-connected residential neighborhoods. It offers easy access to key IT hubs and tech parks in Whitefield, making it an ideal choice for professionals working in the area, the report stated. The development is also well-linked to public transport, with nearby metro stations, hospitals, schools, and shopping centers, including Phoenix Marketcity and Whitefield Railway Station.

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Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed excitement about the new launch. “We are pleased to add another high-rise project, reinforcing our position in one of India’s largest real estate markets. The ‘Arvind’ brand continues to be trusted by homebuyers and landowners, and we are on track to achieve our business goals,” he said, as quoted in the publication.

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The launch adds to the firm’s growing portfolio, with the company projecting a total new business development potential of ₹1,010 crore this year. The company continues to focus on expanding its footprint across major cities like Bengaluru, Ahmedabad, and the Mumbai Metropolitan Region (MMR). This follows their earlier announcement in July about plans to launch projects worth ₹2,300-2,500 crore by the end of FY25.

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

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