December 14, 2023:Â Chalet Hotels and K Raheja Corp Homes, have entered into an alliance for the development of Raheja Vivarea, a luxury residential project, in the Koramangala micro-market of Bengaluru. Spread across an 8.25-acre land parcel owned by Chalet Hotels, the project will be exclusively marketed by K Raheja Corp Homes.
This project is focussed on delivering an ecosystem which will have 7.44 acre allocated for a hi-end gated residential development and 0.81 acre earmarked for a Grade A commercial development. This will be similar to Raheja Vivarea in Mumbai’s Mahalaxmi. With a total saleable area of 8.5 lakh sqft, the project encompasses a township of nine towers, each with 10 floors and two towers with 11 floors taking the total number of apartments to over 300. The development is underway with OC received for four towers.
The development is unique in the micro market, and one of the first hi-end gated communities in the Block 3 of Koramangala, with villa-sized floor plates.
Ramesh Ranganathan, CEO, K Raheja Corp Homes, said, “The Koramangala market, with limited green field land prospects, makes this project highly aspirational. By combining our respective domains of expertise, the group is strategically poised to create a distinctive offering that combines the opulence of hospitality with the comforts of home, delivering value for stakeholders. This marks the luxury residential foray of the group with our flagship Vivarea brand in the city of Bengaluru.”
The Raheja Vivarea apartments will offer residences ranging up to 4,006 sqft carpet, characterised by opulent 10.8 ft floor to floor height and decks extending up to 6.8 ft in width. Homes can be tailored to variants of 3, 3.5, 4 and 5 BHK apartments costing upwards of Rs 6 crore. According to the official statement, the project has over 40 amenities.
Koramangala has excellent connectivity and a well-developed social infrastructure and is one of the most aspired residential hubs in Bengaluru. It features numerous enterprises and businesses, making it a vibrant commercial centre. With the best schools, prominent healthcare facilities and shopping and entertainment options, Koramangala is a vibrant micro-market choice for home buyers.
Chalet Hotels Limited has presence in Bengaluru with projects such as Bengaluru Marriott Hotel Whitefield with 391 operational keys and 1msf of office development, in Marriott Complex, Whitefield.
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