February 6, 2024: Real estate developer Embassy Group has signed a joint development pact for 3.75 acre of land in Whitefield to launch a premium residential project, according to an official release. It will have an estimated revenue potential of around Rs 550 crore.
According to the developer, the land is located on Whitefield Main Road, close to Hoodi Junction and will cater to a global lifestyle with the area’s booming social infrastructure comprising of hospitals, schools, banks, employment hubs, and malls and shopping centres. With access to public transport and connectivity through the East-West corridor of the Metro Purple Line, the project is well-linked to the rest of the city.
The project has around 5.4 lakh square foot (sqft) of saleable area, including around 400 apartments of 2 BHK, 2.5 BHK and 3 BHK configurations. The project is expected to go live by Q4 FY24, the company said in its release.Â
According to the release, the company has over Rs 2,000 crore of OC-compliant projects ready for possession this year. It plans to launch around Rs 5,000 crore of inventory in the coming year to meet the existing demand for premium and luxury living spaces.
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