Arvind SmartSpaces signs new residential project in Bengaluru

Arvind SmartSpaces (ASL) announced that it has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of ~4.2 lakh sq. ft. and a top-line potential of ~Rs. 600 crore. This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on joint development basis.

This addition follows the acquisition of the Bannerghatta high-rise project signed in FY24. This would be ASL's 12th overall and 8th high rise project in Bangalore.

ITPL Main Road, near Whitefield is one of the most established residential micro markets in Bengaluru. It boasts excellent connectivity with a metro station nearby and seamless access to the IT/ITES hub in Whitefield, which is home to numerous IT companies and tech parks. The site benefits from well-developed social and civic infrastructure, including prominent schools, hospitals, retail, residential, and commercial spaces in close proximity. Additionally, the area offers quick access to popular hotspots such as the Phoenix Marketcity, Forum Shantiniketan, Inorbit Mall, and the Whitefield Railway Station, making it a highly desirable location for residential development.