Logo of real estate developer Concorde
Bengaluru: Bengaluru-headquartered real estate developer Concorde on Wednesday announced a Rs 100 crore investment into a 4.5 acre land parcel in Thanisandra of the city’s northern corner.
The realty player plans to utilise the National Company Law Tribunal released property to develop a premium residential project with a revenue potential of around Rs 400 crore, per the company.
The project, which is expected to commence in July 2024, will comprise six towers housing a total of 424 two and three bedroom, hall and kitchen (BHK) units. The overall construction expenditure, inclusive of the land acquisition cost, will amount to Rs 251 crore.
“With its prime location, excellent connectivity, and burgeoning demand, Thanisandra presents a compelling opportunity for us to create a residential development that redefines urban living. Additionally, the region has well developed infrastructure including seamless connectivity to the rest of the city through the upcoming metro line.” Concorde Managing Director Anil R G said.
This is a part of a Rs 1,200 crore investment roadmap across a three year timeframe details of which Concorde Chairman Nesara BS had shared with DH in August last year.