Embassy Industrial Park completes acquisition of 124 acre land near Bengaluru - Hindustan Times
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Embassy Industrial Park Hosur Pvt Ltd completes acquisition of 124 acre land parcel near Bengaluru

Dec 07, 2023 10:36 PM IST

The land parcel in Nelamangala Taluka, Bengaluru, was acquired by Embassy Industrial Park Hosur Pvt Ltd for ₹177 crore and registration completed in October.

Embassy Industrial Park Hosur Pvt Ltd, a subsidiary of Embassy Industrial Parks, has acquired a land parcel measuring around 124.21 acres from the Karnataka Industrial Areas Development Board for 176.57 crore, documents accessed by Propstack showed.

Embassy Industrial Park Hosur Pvt Ltd had been allotted a land parcel by Karnataka Industrial Areas Development Board for setting up an industrial and logistics park(Representational picture)
Embassy Industrial Park Hosur Pvt Ltd had been allotted a land parcel by Karnataka Industrial Areas Development Board for setting up an industrial and logistics park(Representational picture)

The amount was paid by the lessee to the lessor as premium and rent, the document showed.

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The transaction was registered on October 20, the document showed.

The land is located within the village limits of Baragenahalli, Sompura Hobli, Nelamangala Taluk, Bengaluru Rural District and measures close to 5.02 lakh sq m (124.21 acres) or thereabouts, the documents showed. 

Embassy Industrial Park Hosur Pvt Ltd had been allotted a land parcel by Karnataka Industrial Areas Development Board for setting up an industrial and logistics park, the document showed..

According to people in the know, 124 acres of land in Nelamangala Taluka, Bengaluru, was sanctioned in 2021 and may have already been factored in the portfolio of Blackstone since 2021. However, documentation work has been completed recently, they said.

Embassy Industrial Park Hosur is a subsidiary of Embassy Industrial Parks that was acquired by Blackstone in 2021.

There was no response from Blackstone.

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  • ABOUT THE AUTHOR
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    Vandana Ramnani is editor, real estate, HT Digital. She has reported extensively on residential and commercial real estate. She can be reached at vandana.ramnani@htdigital.in

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