NBR Group purchases 9.65 acre in Bengaluru for residential project
ECONOMY & POLICY

NBR Group purchases 9.65 acre in Bengaluru for residential project

NBR Group, a real estate developer based in Bengaluru, has acquired a 9.65-acre land parcel in the Sarjapur-Mullur suburb of the city. This acquisition is strategically important as it opens the door for the development of a high-rise residential project covering 9 lakh square feet. The project is expected to generate a gross development value exceeding Rs 12 billion for the company.

Nagabushana Reddy, the Managing Director of NBR Group, noted that this area represents a mature market characterized by strong demand for residential real estate and a limited supply of land. He mentioned that this project signifies a significant expansion for NBR Group in the luxury housing segment, addressing the high demand for premium residential spaces in Bengaluru.

Sarjapur-Mullur has become one of Bengaluru's most sought-after residential destinations due to its strategic location between key hubs such as Whitefield, Electronic City, and the Outer Ring Road. Infrastructure developments, including the extension of the metro line and improved road connectivity, have led to a surge in housing demand in this region. The area is witnessing a boom in residential projects, particularly in the mid to high-end segment, as tech professionals and families seek affordable yet well-connected alternatives to central Bengaluru. Furthermore, the proximity of Sarjapur-Mullur to IT parks, educational institutions, and the upcoming peripheral ring road has enhanced its attractiveness as a promising residential area.

Additionally, Bengaluru's residential real estate market continues to grow robustly, fueled by sustained demand from homebuyers and investors. According to Square Yards, an integrated real estate prop-tech marketplace, Bengaluru's registered home sales value saw a substantial 30% increase over the previous quarter during the second quarter (Q2) of 2024, reaching Rs 196.31 billion by the end of June. The report indicated that the city experienced a significant 19% rise in registered residential transactions, totalling 28,356 units during the same period.

NBR Group, a real estate developer based in Bengaluru, has acquired a 9.65-acre land parcel in the Sarjapur-Mullur suburb of the city. This acquisition is strategically important as it opens the door for the development of a high-rise residential project covering 9 lakh square feet. The project is expected to generate a gross development value exceeding Rs 12 billion for the company. Nagabushana Reddy, the Managing Director of NBR Group, noted that this area represents a mature market characterized by strong demand for residential real estate and a limited supply of land. He mentioned that this project signifies a significant expansion for NBR Group in the luxury housing segment, addressing the high demand for premium residential spaces in Bengaluru. Sarjapur-Mullur has become one of Bengaluru's most sought-after residential destinations due to its strategic location between key hubs such as Whitefield, Electronic City, and the Outer Ring Road. Infrastructure developments, including the extension of the metro line and improved road connectivity, have led to a surge in housing demand in this region. The area is witnessing a boom in residential projects, particularly in the mid to high-end segment, as tech professionals and families seek affordable yet well-connected alternatives to central Bengaluru. Furthermore, the proximity of Sarjapur-Mullur to IT parks, educational institutions, and the upcoming peripheral ring road has enhanced its attractiveness as a promising residential area. Additionally, Bengaluru's residential real estate market continues to grow robustly, fueled by sustained demand from homebuyers and investors. According to Square Yards, an integrated real estate prop-tech marketplace, Bengaluru's registered home sales value saw a substantial 30% increase over the previous quarter during the second quarter (Q2) of 2024, reaching Rs 196.31 billion by the end of June. The report indicated that the city experienced a significant 19% rise in registered residential transactions, totalling 28,356 units during the same period.

Next Story
Real Estate

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Next Story
Infrastructure Transport

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

Next Story
Infrastructure Urban

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?