Arvind SmartSpaces sells 220 residential plots in Bengaluru for over ₹160 crore

The project is an orchard-themed plotted development located in Doddballapur Road, Devenahalli. This is Arvind SmartSpaces' second plotted township in Bengaluru

Updated on: Feb 20, 2024, 08:39:10 IST

By HT News Desk

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Listed real estate company Arvind SmartSpaces Limited (ASL) has sold more than 220 housing units valued at over ₹160 crore in its residential plotted development project, Arvind Orchards in Devanahalli, Bengaluru, the company said in a regulatory filing on February 19.

Arvind SmartSpaces Limited (ASL) has sold more than 220 housing units valued at over ₹160 crore in its residential plotted development project in Bengaluru. (Picture for representational purpose only) (Pixabay)

In a regulatory filing, the company said that "it has sold out the entire inventory released for sale in the 1st phase of its residential plotted development project, Arvind Orchards in Devanahalli, Bengaluru, within 7 hours of launch."

Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, “We are delighted to have received an overwhelming response from the Bengaluru homebuyers once again. We have been able to create a strong presence in Bengaluru market with a focus on designs that are inspired by the evolving preferences of our customers. ”

Also Read: Over 4.35 lakh homes completed in 2023 across top seven cities, 59% in MMR and NCR

The project is housed under HDFC Platform 2. Arvind Orchards, is an orchard-themed plotted development in Doddballapur Road, Devenahalli. This would be ASL’s second residential plotted township in Bengaluru, the company said.

Devanahalli is an established residential plotting micro-market near the Bengaluru International Airport and is home major economic hubs such as Aerospace SEZ and KIADB IT Park.

Also Read: Bengaluru real estate: 70% realty assets in the city developed through joint development agreements

Arvind SmartSpaces entered the Bengaluru market in 2013 and has till date added 11 projects across different micro-markets in the city.

The company is headquartered in Ahmedabad. It has approximately 75 million square feet of real estate development across the country. It has real estate developments across Ahmedabad, Gandhinagar, Bengaluru and Pune.

Also Read: Housing sales may increase by 38% in 2023 to touch ₹4.5 lakh crore across top 7 cities

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