Tata Realty acquires 25.3 acres of Prime Bengaluru Land for Rs 9.86 bn

As per a regulatory filing on August 8, Tata Realty and Infrastructure (TRIL), the real estate development arm of the Tata Group, has acquired a 25.3-acre land parcel in Bengaluru for a sum of Rs 9.86 billion. The seller in this transaction is Graphite India. The acquisition was carried out through two wholly-owned subsidiaries of TRIL, namely TRIL Bengaluru Real Estate Five and TRIL Bengaluru Real Estate Six.Situated in Doddanekundi Village adjacent to KR Puram Hobli in the northeastern part of Bengaluru, the land area is highly regarded by real estate experts due to its proximity to the IT hub of Whitefield. The prevailing land values in this area range between Rs 250 million and Rs 300 million per acre.Tata Realty has ambitious plans in the pipeline. It intends to introduce a total of 5 million square feet of office space in Bengaluru, encompassing two IT parks. These forthcoming ventures will require an investment of Rs 40 billion and are scheduled to be launched by the conclusion of this year.The forthcoming plans for Tata Realty encompass the launch of at least two IT parks focused on office spaces within Bengaluru. These projects will span approximately 30 acres, spanning across the northern region of the city, such as Hebbal, and the eastern IT corridor around Whitefield.