Birla Estates, M S Ramaiah Realty to co-develop land parcel in Bengaluru
Birla Estates, the real estate arm of Century Textiles and Industries Limited (CTIL), has agreed to co-develop a 52-acre land parcel in North Bengaluru with M S Ramaiah Realty.
According to Birla Estates, the project has a revenue potential of INR 3000 crores and a development potential of four million square feet.
M. R. Seetharam — Designated Partner of M S Ramaiah Realty said: “It has been a great privilege for M S Ramaiah Realty to partner with renowned brand like Birla Estates for a high-end residential township. We, along with Birla Estates will deliver world class living space.”
The project will include both high and low-rise residential developments along with retail and commercial elements.
Birla Estates said that it will be an integrated mini township project that will have lifestyle amenities, large green spaces, and curated homes.
KT Jithendran — CEO of Birla Estates said: “We are pleased to announce our partnership with M S Ramaiah Realty LLP to jointly develop a premium integrated township in North Bangalore that will provide a comprehensive and established ecosystem of high-quality homes.
“The location offers a lucrative real estate market opportunity for employment, excellent connectivity and variety of housing amenities across various segments. Bengaluru is a focus market for Birla Estates and we are happy to be announcing our 3rd project in a short span of time.”
The property is in close proximity to the Kempegowda International Airport and is at a distance of two kilometers from the proposed Airport Metro Station.
Presently, Birla Estates has a couple of projects in Bengaluru, namely the Birla Alokya villament project at Whitefield and the Birla Tisya luxury residential project in Rajajinagar.