April 2024: Real estate developer Sumadhura Group has acquired 40 acre of land in Bengaluru, setting the stage for a revenue potential of up to Rs 6,000 crore residential project pipeline.
The properties, acquired as four land parcels recently, are a combination of both solely owned and joint-development projects strategically located in emerging areas in east and south-west Bengaluru.
Sumadhura Group has plans to develop four residential projects on these sites – three in the east and one in south west Bengaluru over the next five years with an estimated potential of attaining 6 million sqft (msf) of saleable area.
Madhusudhan G, chairman and managing director, Sumadhura Group, said, “Our experience of over two decades in Southeast Bengaluru has provided invaluable insights into the region’s growth trajectory. That knowledge, coupled with the booming demand in the residential market fuelled majorly by the IT sector, gives us the required push and enough confidence to strengthen our footprint in this emerging high-promise market. We look forward to launching the projects in the next three quarters and completing them in the next 3-5 years. As highlighted in our recent acquisition of nearly 40 acre for residential development, Sumadhura Group remains committed to identifying growth opportunities. The current expansion allows us to plan strategically alongside the East Bengaluru corridor.”
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