Concorde acquires land parcel in Bangalore through Colliers India

The proposed project will comprise 2- and 3-BHK units, spread over a high-rise tower of 2.25 lakh sqft.

June 27, 2024: Real estate developer Concorde has acquired a 1.6-acre land parcel located on Sarjapur Road, Bangalore. Set to be a high-rise residential complex, this joint development will have a gross development value (GDV) of Rs 200 crore. The strategic acquisition was facilitated by real estate consulting firm Colliers India.

The Colliers team conducted a market analysis that assisted in identifying a suitable space that aligned with Concorde’s business objectives and vision. The firm held rounds of negotiation with all parties involved to arrive at a deal structure that served the best interests of the landowner and developer. 

The proposed project will comprise 2- and 3-BHK units, spread over a high-rise tower of approximately 2.25 lakh square foot (sqft). Its location on the Sarjapur main road ensures good connectivity to key IT hubs such as Whitefield, Electronic City, Outer Ring Road, Marathahalli and Koramangala. The area’s infrastructure is set to improve further with the completion of Namma Metro’s phases two and five, and the proposed 74 km Peripheral Road. The upcoming project will also include Concorde’s signature clubhouse – Evolve, with a myriad of amenities.

Nesara B S, chairman, Concorde, said, “This acquisition reinforces our commitment to delivering innovative and high-quality living spaces that meet the evolving needs of modern homebuyers in strategic locations. With the support of Colliers India, we were able to structure a deal that benefits both the landowners and our development goals.”

Piyush Gupta, managing director, capital markets and investment services, Colliers India, said,  “Concorde is building homes of the future with projects that boast modern architecture and tech-infused features, and our team is proud to have facilitated this transaction. By formulating the correct structure, we were able to meet the business requirements of the developer and landlord. With our strong industry relations and long-standing ability to deliver bespoke solutions, we consistently drive success for our clients and the overall real estate sector.”

 

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com

 

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