Tata Realty & Infra Expands its Footprint in Bengaluru
Tata Realty and Infrastructure Ltd (TRIL), the real estate development arm of Tata Group. It has made a big move in the Bengaluru property market. The company has acquired a land parcel spread over 25.3 acres. The location is in Doddanekundi near Whitefield locality for over Rs 986 crore.
Graphite India, a leading manufacturer of graphite electrodes and carbon products,. They have sold the land parcel to TRIL through its wholly owned subsidiaries. They are TRIL Bengaluru Real Estate Five Ltd and TRIL Bengaluru Real Estate Six Ltd. The deal was finalized in July, and the registration process was completed recently. The land parcel has a development potential of about 4 million sq ft. Furthermore, it is expecting to be used for mixed-use development. Including residential, commercial and retail segments.
TRIL is one of India’s leading players in the real estate sector. With a portfolio of over 70 million sq ft across various asset classes. The company has projects in Mumbai, Pune, Chennai, Bengaluru, Gurugram, Noida, Bhubaneswar and Goa.
The Bengaluru property market has witnessed a strong recovery in the last few quarters. It is driven by robust demand from end-users and investors. The city has also attracted large-scale investments from domestic and foreign players. Such as Blackstone, Brookfield, Embassy Group, Prestige Group and Godrej Properties.
One of the main attractions of the Doddanekundi-Whitefield belt in Bengaluru. It is the availability of large land parcels at competitive prices. The belt offers ample scope for real estate development. The area is also home to some of the reputed IT companies in the world. Such as IBM, SAP, Accenture, Dell and Oracle, which provide employment opportunities and boost the demand for housing. Moreover, the area boasts of quality educational institutions. Such as Vydehi Institute of Medical Sciences and Research Centre, Gopalan International School and Ryan International School, which cater to the needs of the residents.
The area also offers a variety of shopping and entertainment options. Including Phoenix Marketcity, VR Bengaluru and Inorbit Mall, which enhance the quality of life. Furthermore, Outer Ring Road, Metro Rail and Peripheral Ring Road (under construction) connect the area well to other parts of the city, which ensure smooth and hassle-free commute. TRIL is strengthening its presence in the Bengaluru market with this acquisition. It is expecting to launch a premium project on the land parcel soon. The project will cater to the city’s growing demand for high-quality living and working spaces.
