Concorde Group acquires 4.5-acre land in Bangalore

BENGALURU: Concorde Group, a leading real estate development firm, has successfully acquired 4.5 acres of prime land in Thanisandra, North Bengaluru for a sum of Rs 100 crore from National Company Law Tribunal.

The company plans to develop high-end residential development, with a projected revenue potential of around Rs 400 crore.

“With its prime location, excellent connectivity, and burgeoning demand, Thanisandra presents a compelling opportunity for us to create a residential development that redefines urban living. Additionally, the region has well developed infrastructure including seamless connectivity to the rest of the city through the upcoming metro line.” said Anil R G, managing director of the company.

According to the company, the estimated cost of land acquisition and construction for the upcoming project is approximately Rs 251 crore. The construction is expected to begin in July 2024. The project will offer a total of 424 residential units available in configurations of 2 and 3 bedrooms.

Thanisandra, a locality situated in the northern part of Bengaluru, has emerged as a prime location for real estate investment. Its strategic location in close proximity to major IT and business hubs of the city, such as Manyata Tech Park, makes it a preferred choice for professionals working in these areas.

Additionally, the Kempegowda International Airport is also located nearby, which further adds to the convenience factor. This has led to a surge in the demand for residential properties in Thanisandra, with many reputed developers offering a range of options to choose from. The area also boasts of good social infrastructure, including schools, hospitals, shopping malls, and entertainment centers, making it an ideal choice for families as well.

Concorde has successfully developed 25 million square feet of residential and commercial properties, and currently has several projects in the planning and development stages, totaling a land area of 3.1 million square feet.

Roy Walsh

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