Tata Realty & Infra acquires 25-acre Bengaluru land for Rs 9.86 bn
10 Aug 2023
2 Min Read
CW Team
Tata Realty and Infrastructure (TRIL), which is the real estate development arm of the Tata group, has announced its intention to procure a land parcel that spans 25.3 acres in Doddanekundi, located near the Whitefield area in Bengaluru. This acquisition comes at a substantial cost of more than Rs 9.86 billion.
The entity is in the process of acquiring this land parcel from Graphite India. This transaction is being carried out through two wholly-owned subsidiaries, namely TRIL Bengaluru Real Estate Five and TRIL Bengaluru Real Estate Six.
The transaction's definitive documents were formalised on the preceding, and it is anticipated that the finalisation of the deal's registration will take place in the near future, as indicated by a filing made to regulatory authorities.
The financial assessment of this deal places the value of the land at approximately Rs 400 million per acre. This valuation sets a new record as the most expensive land parcel transaction within this vicinity.
Professionals within the industry hold the belief that the ongoing consolidation of the market, which favours well-established and larger developers, will continue to gain momentum. This preference is attributed to their enhanced capacity to execute projects and their access to liquid assets.
Land transactions have once again started to gather pace, encompassing various deals such as outright acquisitions and collaborative ventures. These activities are centered around prominent property markets such as Mumbai, Pune, Chennai, Hyderabad, and Bengaluru. Many of these deals have either been finalized or are anticipated to conclude shortly.
A land transaction executed by the government in Hyderabad surpassed a value of Rs 1 billion per acre.
The current upward trend in the housing market segment is inspiring a growing number of real estate developers to consider and propose residential projects on land parcels that are either part of their existing land holdings or are currently being procured.
Also read:
Eastern Freight corridor set to commence by year-end
Pune Metro phase 2 proposal gets PMC approval
Tata Realty and Infrastructure (TRIL), which is the real estate development arm of the Tata group, has announced its intention to procure a land parcel that spans 25.3 acres in Doddanekundi, located near the Whitefield area in Bengaluru. This acquisition comes at a substantial cost of more than Rs 9.86 billion.
The entity is in the process of acquiring this land parcel from Graphite India. This transaction is being carried out through two wholly-owned subsidiaries, namely TRIL Bengaluru Real Estate Five and TRIL Bengaluru Real Estate Six.
The transaction's definitive documents were formalised on the preceding, and it is anticipated that the finalisation of the deal's registration will take place in the near future, as indicated by a filing made to regulatory authorities.
The financial assessment of this deal places the value of the land at approximately Rs 400 million per acre. This valuation sets a new record as the most expensive land parcel transaction within this vicinity.
Professionals within the industry hold the belief that the ongoing consolidation of the market, which favours well-established and larger developers, will continue to gain momentum. This preference is attributed to their enhanced capacity to execute projects and their access to liquid assets.
Land transactions have once again started to gather pace, encompassing various deals such as outright acquisitions and collaborative ventures. These activities are centered around prominent property markets such as Mumbai, Pune, Chennai, Hyderabad, and Bengaluru. Many of these deals have either been finalized or are anticipated to conclude shortly.
A land transaction executed by the government in Hyderabad surpassed a value of Rs 1 billion per acre.
The current upward trend in the housing market segment is inspiring a growing number of real estate developers to consider and propose residential projects on land parcels that are either part of their existing land holdings or are currently being procured.
Also read:
Eastern Freight corridor set to commence by year-endPune Metro phase 2 proposal gets PMC approval
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