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KVN Properties is partnering with Assetz Group to develop a residential project in North Bengaluru, with an estimated Gross Development Value (GDV) of INR 1,000 crore. KVN Properties will invest INR 500 crore in the project, which spans nearly 6 acres and covers 10 lakh sq ft of developable area. This marks KVN Properties' second project, following a tie-up with Puravankara Ltd for a INR 3,300 crore GDV project.
KVN Properties has recently formed a partnership with Assetz Group for a new residential development in North Bengaluru. This collaboration aims to contribute to the city's housing market with a specific estimated project value, initiated through a Development Management Agreement. Advertisement
KVN Properties will invest around INR 500 crore in this project. This investment includes both land procurement and all construction expenses. The upcoming project spans nearly 6 acres of land and is designed for 10 lakh square feet of developable area. The estimated Gross Development Value (GDV) for this project is INR 1,000 crore.
Under the Development Management Agreement (DMA), KVN Properties will undertake the project's development costs, while Assetz Group will serve as the Development Manager, contributing its brand equity, market reputation, design-led development expertise, and execution capabilities.
This project marks KVN Properties' second venture. It follows a previous joint venture with Puravankara Ltd in May, also in North Bengaluru, for a housing project with a total revenue potential of more than INR 3,300 crore (approximately 3.4 million sq ft development).
This new agreement with Assetz contributes to KVN's total tied-up residential development for fiscal year 2026, which is now approximately 4.4 million square feet. KVN Properties aims to develop 10 million square feet of residential real estate within the current fiscal year.
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