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Bengaluru-based real estate developer Assetz has acquired an 11.5-acre land parcel in East Bengaluru, located on the Old Madras Road (OMR)/Hoskote Highway. The company plans to develop a new luxury housing project with a gross development value (GDV) of INR 400 crore on the site. This project, which will be a joint development with Vanshee Builders and Developers, is part of Assetz's strategy to expand its portfolio in the city's key growth corridors.
In a strategic expansion move, Assetz, a prominent Bengaluru-based real estate developer, has acquired a significant 11.5-acre land parcel in the eastern part of the city. The land, situated along the Old Madras Road (OMR) / Hoskote Highway, will be the site for a new luxury housing project. Advertisement
The planned development, which is a joint venture with Vanshee Builders and Developers, is expected to have a Gross Development Value (GDV) of INR 1,400 crore. The project aims to add approximately 1.4 million square feet of saleable area to Assetz's portfolio and will include the construction of more than 800 residential units.
This acquisition is backed by funding from Motilal Oswal Alternates, one of India's largest domestic real estate credit funds. The deal is part of Assetz's broader strategy to expand its development pipeline, following the acquisition of 17 million square feet across 19 projects over the last two years.
The company's continued focus on key growth corridors in Bengaluru highlights its confidence in the city's robust housing demand, particularly in the luxury segment.
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