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Birla Estate to build 10-acre housing project

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Birla Estate to build 10-acre housing project

A housing project will be built by Birla Estates on a 10 acre Bengaluru land piece. According to K T Jithendran, CEO of Birla Estates, it is situated in Raja Rajeshwari Nagar in South Bengaluru and requires a development capacity of 1 million square feet with a revenue potential of 900 crore. With new projects planned in each of these markets, Birla Estates now has five residential developments under construction distributed across the National Capital Region (NCR), Bengaluru, and the Mumbai Metropolitan Region (MMR). Real estate developers are purchasing property and entering into joint development agreements (JDAs) with landowners in order to grow their business as a result of the second wave of the COVID pandemic’s recovery in housing demand.

Housing sales in seven major cities, including Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, and Pune, are predicted to surpass the pre-pandemic level of 2,61,358 units recorded in 2019 but fall short of the record-breaking 3.43 lakh units sold in 2014, the most in the previous ten years.

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