Birla Estates ventures into the Bengaluru market

New Delhi, September 5 () B K Birla Group real estate firm Birla Estates said Thursday that it entered the Bengaluru market with a housing project.

Birla Estates, a subsidiary of Century Textiles and Industries Ltd, continues its national expansion by announcing its entry into the Bengaluru real estate market, the company said in a statement.

The 'Birla Alokya' project, located on Soukya Road, Whitefield, will feature 218 luxury apartments on 7.8 acres. The unit price starts from Rs 1.19 million rupees.

KT Jithendran, CEO of Birla Estates, said: Bengaluru, being the IT center, has great potential in terms of residential real estate development and offers a range of huge price appreciation in the near future, areas such as Whitefield have witnessed an increase in 33 percent in property prices in the last six years according to studies.

As part of its growth plans for the coming years, Birla Estates intends to develop a valuable portfolio of more than 200 acres owned by the group that includes the 30-acre plot of land strategically located in Worli Mumbai. The company also actively seeks joint ventures in the markets of the Metropolitan Region of Mumbai, Bengaluru and Delhi NCR. In July, Birla Estates had partnered with the real estate company Anant Raj Group to develop a housing project in Gurugram with an investment of Rs 760 crore. MJH BAL BAL