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Arvind SmartSpaces sells plots worth Rs 100 crore within 7 hours in Bengaluru

Mar 27, 2023

By: BlinkX Research Team

Arvind SmartSpaces Limited (ASL), on Monday announced that it has sold out the entire launched inventory of 2nd phase of its residential plotted development project, Arvind Greatlands in Devanahalli, Bengaluru, within 7 hours of launch. It consisted of more than 150 units valued at more than Rs 100 crore.

According to the press release, Arvind Greatlands marked ASL’s entry into the plotted development segment in Bengaluru. The first phase of this project, with a saleable area of ~0.5 million sq. ft. amounting to a booking value of more than Rs 200 crore, was sold out in 10 hours in November 26, 2022. The first phase is under HDFC Platform 1. The second phase and all future phases are fully owned by Arvind SmartSpaces.

Arvind Greatlands is the ideal place for those seeking a luxurious lifestyle, replete with an opulent, executive-level golf course.

The project offers excellent infrastructure with RCC roads in the entire development Arvind Greatlands customers will also get a membership of Monogram Resort – Devenahalli offering various amenities including gymnasium, rooftop infinity pool, indoor games room, table tennis, jogging track, badminton court, spa, library, restaurant, executive business centre, multimedia theatre, discotheque, and yoga pavilion.

Arvind SmartSpaces entered the Bengaluru market in 2013 and has until now added 10 projects across the region with 4 projects having already been delivered and 6 in various stages of development.

Commenting on the launch, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, “We are elated to have received such a tremendous response from the Bengaluru homebuyers for successive launches in the micro market of Devenahalli. 

The successful launch of Greatlands phase 2, which followed the stellar launch of Greatlands phase 1, within just 4 months is testament to the growing equity and trust of the Arvind brand in our key market of Bengaluru. 

We look forward to build on this performance and have planned various launches and new project additions to further strengthen our presence in Bengaluru.”