4 days ago
Assetz acquires 11.5 acres land in East Bengaluru
NEW DELHI: Bengaluru-based
Assetz
has acquired a 11.5-acre land parcel on the Old Madras Road (OMR)/Hoskote Highway in East
Bengaluru
.
The company plans to develop a luxury residential community with an estimated gross development value (GDV) exceeding ₹1,400 crore.
This strategic acquisition, which includes a portion of joint development with Vanshee Builders & Developers, is supported by a funding partnership with
Motilal Oswal Alternates
.
The development will span 1.4 million sq ft of saleable built-up area (SBA) housing approximately 800 units.
Sunil Pareek, executive director of the company said, "In the past 2 years alone, we have secured a pipeline of 17 million square feet across 19 projects with the potential to deliver 9,000 homes. With 10 launches this year, we are committed to delivering homes that offer long-term value to our buyers and communities alike.'
Anand Lakhotia, managing director & co-head (Real Estate), Motilal Oswal Alternates said, "Having recently announced the final close of our sixth real estate fund, through which we raised ₹2,000 crore, we are well-positioned to support quality land acquisitions."
