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Business Standard

KVN Properties, Assetz Group join hands for ₹1,000 crore Bengaluru project

KVN Properties, an institutionally backed real estate investment platform led by former Prestige Group CEO Venkat K Narayana, has entered into a strategic Development Management Agreement (DMA) with Assetz Group to develop a premium residential project in North Bengaluru. The collaboration will span approximately 1 million square feet, with an estimated Gross Development Value (GDV) of ₹1,000 crore, according to a statement. Further, KVN said the agreement boosts its total tied-up residential development for FY 2025–26 to approximately 4.4 million square feet, building on its May 2025 joint development announcement of 3.4 million square feet with Puravankara Group. The partnership with Assetz Group further strengthens KVN's strategic roadmap towards developing 10 million square feet of residential real estate within the current fiscal year. "This is a high-conviction investment backed entirely by KVN Properties where we are not only aggregating land but building a portfolio of end-to-end residential developments that combine intelligent planning, financial discipline, and customer-centricity. As we scale to 10 million square feet this fiscal, our goal remains clear: create exceptional living spaces in high-growth corridors with the right partners and a disciplined investment approach," said Venkat K Narayana, Promoter, KVN Properties. The Bengaluru-based KVN noted that the project is planned as a single-phase development spanning 3–4 years, commencing after securing all necessary approvals, including RERA registration. The Development Management Agreement outlines detailed specifications for unit types, sizes, and amenity planning, ensuring the final offering aligns with evolving buyer preferences while preserving brand identity and differentiation. "North Bengaluru is a high-growth corridor with a discerning buyer base. This partnership allows us to co-create a landmark project that reflects KVN's commitment to community-focused development and our passion for design-driven living. The 5.6-acre parcel in North Bengaluru aligns well with our strategy to deliver quality residential apartment development in high-growth markets backed by strong economic drivers," added Sunil Pareek, Executive Director, Assetz. KVN caters to Bengaluru while actively exploring expansion into Mumbai, Pune, Hyderabad, and Chennai. The company's expansion occurs against the backdrop of a buoyant Bengaluru residential market, which posted 14 per cent year-on-year price growth in H1 2025, the highest in India alongside NCR.