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Everything You Need To Know About The Guidance Value In Bangalore

Oct 23,2019 / By / No Comment
All about Guidance Value of Property in India

Guidance Value Of Property In Bangalore And Its Calculation:

Guidance Value is the minimum value below which no property transaction can be accomplished. It is the least value at which you can register a property. The Guidance Values are published by the Dept. of Stamps & Registration in every state and it gives the value based on locality and individual buildings/project names. Any changes in Guidance Value may increase or decrease property prices. It is a major source of generating revenue for the state. Property registrations can not go below that fixed price. A well-developed locality will have a higher Guidance Value while a least developed or under-developed locality has a lower Guidance Value.

The Stamp and Registration department performs an account of the Guidance Value in states. It is also known as Ready Reckoner Rate or Circle Rate in other states. Guidance Value is applicable to both plots and constructed properties. For plots in Bangalore, the Guidance Value is calculated on the grounds of the available land area excluding any constructed property while the value charged for the constructed properties including the land is known as a composite value.

As per the law, even if you buy a property at a lower price than the Guidance Value, you will still have to register the property at Guidance Value. If the sale value of a property is higher than Guidance Value then the property has to be registered at sale value.

The government always makes a plan to keep Guidance Value as close to market value as possible. This is prepared to control cash transactions which create black money and also to boost revenue for the state government.

However, it should be noted that Guidance Value is only the minimum price for registration and not the price at which the property would be sold. The market value of a property like other goods is changed and determined on the basis of a number of factors such as market forces, the proximity of the property to the different new developments being made in the city. For example, a property located near an upcoming airport will rise in property value.

How to calculate Guidance Value in Bangalore?

Steps To Calculate Online Guidance Value In Karnataka:

  • Visit KAVERI website
  • On the webpage, you will get two search options – Basic Search and Advanced Search
  • Now, you have to select ‘District’ from the drop-down menu provided
  • Enter three characters in the ‘Area Name’, and the system would suggest results matching your inputs. Select your Area.
  • With this, you will get more options to choose from – Property Usage Type, Total Area, and Measurement Unit.
  • In the Advanced Search mode, you will need to furnish extra details such as Registration District and SRO Office.

Below image will clear your points:

KAVERI Online Services in Bangalore

KAVERI Online Services in Bangalore

Latest Updates On Guidance Value In Bangalore:

In January 2019, the Karnataka Government has increased the Guidance Value of agriculture by 5% to 25% across Karnataka. It is certainly a welcome move and farmers have a reason to cheer. But at the same time, it is expected to hurt middle-class families who are looking to buy Budget Homes in Bangalore. The new Guidance Value in Bangalore revised after a gap of 2-years that came into effect from 1st January 2019.

The last time the guidance value had been increased was in March 2017. As per the Stamps and Registration Act, the guidance value has to be revised every year. But, due to several reasons, such as the demonetization and Assembly elections, the guidance value could not be revised. The state audit team reported that there is a huge gap between the guidance value and market rates.

To overcome the gap between Guidance Value and Market Value, the state government reviews the Guidance Value annually. The change in values helps the government to make higher revenue through stamp duty and registration fees. Reducing the gap between the Guidance Value and the Market Value also helps to control black money inflow in the real estate market.

Under the revised rates, the Guidance Value for agriculture land in Hunasemaranahalli on KIA Road in North Bangalore has hiked to a record Rs 6.5 crore/acre which is highest in the state so far. Similarly, the new Guidance Value has risen to Rs 1.8 crore per acre in some parts of Mysuru Rural Taluk, Rs 1.2 crore in parts of Bidadi Taluk in Ramanagara District, and up to Rs 80 lakh in the Hosabettu area in Dakshina Kannada.

The move is meaningful considering a person buying land will have to pay a minimum of 5.6% of Guidance Value as stamp duty.

In Bangalore (Urban), there are 42 Sub-Registrar Offices for estimating and regulating Guidance Value. For rural areas, the State government has set up five Sub-Registrar Offices.

List of Sub-Registrar Offices in Bangalore (Urban)

Rajajinagar District

Basavanagudi District

Shivajinagar District

Gandhinagar District

Jayanagar District

Rajajinagar

Basavanagudi

Shivajinagar

Gandhinagar

Jayanagar

Yashwanthpaura

Chamarajapete

Indiranagar

Malleshwaram

Santhinagar

Vijayanagar

Banashankari

Halsuru

Ganganagar

BTM Layout

Srirampuram

Anekal

Banasawadi

Hebbal

Kengeri

Peenya

Attibele

KR Puram

Kacharakanahalli

Rajarajeshwari Nagar

Laggere

Sarjapura

Mahadevapura

Byatarayanapura

JP Nagar

Nagarbhavi

Jigani

Bidarahalli

Yelahanka

Bommanahalli

Madanayakanahalli

Varthur

Jala

Begur

Dasanapura

Hesaraghatta

Tavarekere

List of Sub-Registrar Offices in Bangalore (Rural):

  • Nelamangala
  • Doddaballapura
  • Devanahalli
  • Hoskote

As per the revised Guidance Value, property prices along the sides of the road and park facing will see a maximum hike in property prices. Below is the Guidance Value for different areas of Bangalore.

New Guidance Value In Bangalore

Area

Rates (per sq.mt)

Vani Vilas Market to D. Banumalah Circle on Sayyaji Rao Road

Rs 32,000

Banumalah Circle to K.R. Circle

Rs 68,200

K.R. Circle to Ayurveda Hospital Circle

Rs 1.15 lakh

Ayurveda Hospital to RMC Circle

Rs 49,100

RMC Circle to Highway Circle

Rs 32,600

Kumbarakoppal Main Road

Rs.1,29,000

Kumbarakoppal Cross Roads

Rs 9,600

Kumbarakoppal Inner Cross Roads

Rs 9,900

Kumbarakoppal Colony

Rs 6,500

Kumbarakoppal South Side

Rs 13,000

Gokulam Main Road

Rs 38,400

Gokulam Cross Road

Rs 19,800

Gokulam Ist & 2nd Stage

Rs 25,000

Gokulam 3rd Stage

Rs 28,000

Gokulam 4th Stage

Rs 20,000

Contour Road EWS

Rs 19,700

Karnataka Slum Development Board Houses

Rs 8,600

Bogadi 1st & 2nd Stage

Rs 28,000

Janatanagar

Rs 11,800

Srirampura 1st Stage

Rs 23,000

Srirampura 2nd Stage

Rs 24,000

Metagalli Main Road

Rs 18,300

Hale Ooru

Rs 8,500

Ambedkar Colony

Rs 3,500

B.M Sri Nagar Main Road

Rs 10,100

B.M Sri Nagar Cross Road

Rs 8,300

Karakushalanagar

Rs 5,400

 

New Guidance Value for Agricultural Land (Per Acre)

Agriculture land (Kushki) at Ajjayyanahundi

Rs 51 lakh/acre

Thari land at Ajjayyanahundi

Rs 53 lakh/acre

House sites at Ajjayyanahundi

Rs 4,750/sq.mt

House sites approved by the Development Authority

Rs 10,900/sq.mt

Agricultural land (Kushki) at Chowdahalli

Rs 30 lakh/per acre

Agricultural land at Ayarahalli

Rs 8.5 lakh/acre

Thari land at Ayarahalli

Rs 9 lakh/acre

Govt Uthanahalli (MUDA limits)

Rs 32 lakh/acre

Inam Uthanahalli

Rs 8 lakh/acre

Amchawadi Village in Yelwal Hobli

Rs 3.50 lakh/acre

Anandur

Rs 20 lakh/acre

Yelwal Hobli MUDA limits, Mysuru-Hunsur Road

Rs 35 lakh/acre

Anaganahalli under Mysuru West Office limits

Rs 8 lakh/acre

Arasinakere

Rs 5 lakh/acre

Udbur (MUDA Limits)

Rs 22 lakh/acre

Kadakola

Rs 35 lakh/acre

 

New Guidance Value in Major Roads of Bangalore (per sq.mt)

Cunningham Road (Chandrika Hotel to Balekundri Circle)

Rs 2,78,600

Lavelle Road

Rs 2,07,900

M.G.Road, Brigade Road, Residency Road

Rs 1,95,500

12th Main, HAL 2nd Stage

Rs 1,11,800

Defense Colony, Indiranagar

Rs 1,71,800

CMH Road, 1st to 12th Cross

Rs 1,43,200

9th Main, Jayanagar

Rs 3,87,500

Dollars Colony, RMV 2nd Stage

Rs 1,84,000

Sampige Road, Malleshwaram

Rs 2,05,000

Sadashivanagar (C.V. Raman Avenue to Bhashyam Circle)

Rs 2,58,200

Sankey Tank Road

Rs 2,70,000

Dr. Rajkumar Road

Rs 1,61,500

ESI Hospital Road, Rajajinagar

Rs 1,10,000

Nandidurga Road

Rs 1,75,000

Bannerghatta Main Road (Hosur Road to Dairy Circle)

Rs 1,53,000

Vittal Mallya Road

Rs 2,08,900

The FAQ On Guidance Value:

Should we register our property at Guidance Value or Market Value? And how will Guidance Value affect the property prices?

For example, if the market value of a property in a particular area is Rs.6000/sq.ft. and the Guidance Value is fixed at Rs.4500/sq.ft. by the Revenue Department, then the homebuyers have a choice to register the property at a rate anywhere between Rs.4500/sq.ft and Rs.6000/sq.ft.

But, in case, if a property offers the market rate of Rs.5500/sq.ft and the Guidance Value is priced at Rs.8000/sq.ft, then a homebuyer can not register the property below Rs 8000/sq.ft.

So, the property can be registered at either the Guidance Value or Market Value whichever is lower. But, in case of registration on the market value, you will always have to pay higher stamp duty.

How can we get the latest Guidance Value of a property?

The latest Guidance Value of the property in a particular area in a city could be obtained from the Sub-register office.

How reduced Guidance Value impact both buyers and sellers?

Taking the current market condition, where the market value of a property is much lesser than the Guidance Value, even a small reduction in Guidance Value helps both buyers and sellers in a big way. Here are some important benefits of reduced Guidance Value:

  • It lowers capital gain tax for the seller
  • It also lowers stamp duty and registration charges for the buyer
  • It makes possible lower sale values for the buyer

Why did Guidance Value in Bangalore reduce? And how did it affect buyers, sellers, and the government?

There was a significant variation between market value and the Guidance Value. This means that very few buyers were willing to take the burden of additional stamp duty and registration charges. As a result, there were fewer transactions and hence loss of revenue for the government.

  • It lowers capital gain tax for the seller
  • It also lowers stamp duty and registration charges for the buyer
  • It increases revenue for the government
  • It makes possible lower sale values for the buyer

How the Guidance Value of a property fluctuates?

The guidance value fluctuates between localities as well as apartments or projects within the same locality. Here are a few steps that calculate the guidance value of a property for estimating your investment costs:

Prime Locality:

The current real estate trend and reputation of the developers, and the kind of upcoming projects ranging from affordable, mid-segment or luxury residences set guidance value. A locality that is recommended for luxury apartments and villas by famous builders will have a high guidance value.

Higher Floors:

The base guidance value remains the same until the 5th floor. The value rises from the 6th floor upwards.

No of Amenities:

In Bangaluru, the state government has set the lifestyle amenities given by residential properties into 14 categories varying from the clubhouse, kid’s play area, swimming pool, commercial spaces and more. The Guidance Value hike for 5 or more groups of amenity.

How to calculate the Guidance Value of property in Bangalore?

The Stamps and Registration Department of Karnataka has launched an online platform known as “KAVERI” where one can calculate the Guidance Value in Bangalore 2019.

What is the Guidance Value of commercial properties in Bangalore?

The Stamp & Registration Department has notified an increase of 50% in Guidance Value of Commercial Properties in the 11th Main, Jayanagar, 4th Block.

What is the Guidance Value of road facing properties in Bangalore?

The Stamp & Registration Department of Karnataka has revised the guidelines and mandated the Guidance Value of properties facing roads by 25%.

What is the Guidance Value of a park facing properties?

The new guidelines have imposed an additional 10% rise in Guidance Value for properties facing parks.

Why does the government raise the Guidance Value of a property?

The Guidance Value of a property is a major source of generating revenue for the state. By raising the Guidance Value, the govt expects higher revenue.

How does a hike in Guidance Value impact property prices and buyers?

After a hike of up to 25%, property rates in some parts of Bengaluru has increased significantly. Property markets of Bengaluru which is already counted among the most expensive ones in India. People find it the most expensive and holding their buying decision.

For example, the current property rate in Jayanagar is Rs 1,75,000/sq.mt based on Guidance Value. It is to be noted that a square meter is equal to 10.76 sq.ft. So, if you have 100 sq.mt (1,076 sq.ft) house in Jayanagar, the Guidance Value is Rs 17.50 lakh as per existing value. So, the recent hike in Guidance Value in Bengaluru means a significant increase in property cost.

Homebuyers will lose interest in buying property paying more as Stamp Duty and Registration Charges for areas where the Guidance Value is higher than the Market Value.

Suppose, you are buying a property of Rs 1 crore based on Guidance Value and the stamp duty is charged at 5.6%, your total stamp duty comes to Rs 5.60 lakh.

Data & Image Sources: Google

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Should I Buy An Under-Construction Flat or Ready-T0-Move-In Bangalore?

Jul 31,2019 / By / No Comment
rtmv2

Why one should buy an under-construction flat over ready-to-move-in Bangalore?

Buying property is an important decision for all. It’s an emotional decision which can be taken very cautiously. You are not going to switch your home in the next few years after buying, rather you will not sell it off except you get a better deal or need a bigger home.

The resale housing market, especially the new, ready-to-move-in section, gives home-buyers a chance to avoid the risks of buying under-construction properties that are likely to extreme delays.

Ready-to-move-in properties reduce the chances of getting cheated, apart from offering other benefits.
Ready-To-Move-In flats are more expensive than an under-construction flat in the same locality. You should have a strong financial position for a ready-to-move-in flat, as you would have to pay the full cost of the property before the builder handovers you the keys. Your home loan should be sanctioned, and EMIs on the full loan amount will start instantly. On the other hand, an under-construction flat has an easier payment method, as you would have to make staggered payments spread over the years.

This is, perhaps, the only positive for an under-construction flat, however. “The price gap between RTM and under-construction apartments has narrowed considerably because of the supply overhang

If you are planning to buy a property, you would get lots of options. But there is an advantage in choosing a ready-to-move-in property. Below we are listing a few of its advantages and disadvantages:

Advantages of Ready to Move in Property:

  • Immediate Authority on Your Flat Purchase: In case of ready-to-move-in property, you can instantly move into your new house. You will immediately get the possession of your home, what you have paid for whereas for an under-construction property you have to wait for 3-5 years for the flat to be delivered.
  • Low-Risk Involvement: In a ready-to-move-in property there are no risks of delay possession. While in the case of under-construction property, project delays are much more common and there are many cases where a builder has duped buyers. So, you need to be cautious while choosing a builder for an under-construction property.
  • Instant Relief from Paying Rent: Once you relocate into your new home, you won’t have to pay any rent. All you have to pay is EMI for your home loan. While in an under-construction property, you will have to carry both EMI and Rent for a number of years.
  • You will get what you will see: An under-construction property is sold on papers. Sometimes, there can be some discrepancies in the final outcome and what you were promised. On the other hand, in the case of ready-to-move-in property, you will first see and inspect the product and then only you will decide to buy it or not.
  • Immediate Tax Benefits: In a ready-to-move-in property you can challenge tax exemption on your home loan on both principal and interest repayment instantly while tax benefits on home loan for an under-construction property can be claimed only after you get the flat possession.
  • Only EMI With No Down Payment: The most helpful thing about ready-to-move-in property is that you will have to pay EMIs on the home loan, and would include no other payments. In case of an under-construction property, EMI normally begins after completion of construction work. Despite this, if there is any delay in the construction, then the EMI will start once the home loan gets dispensed.
  • Check The Infrastructure And Other Facilities: When you are buying a ready-to-move-in property, you can check the infrastructure and other facilities around the flat before buying the property.
  • No increased cost: This is another advantage of buying a ready-to-move-in property as you are not supposed to pay the increased cost of the property after paying the booking amount. But in the case of under-construction properties, you have to bear the increased cost of the property.
  • Buy within Your Budget: In a ready-to-move-in property, you can select a property within your budget. If you have a lower budget, you can buy a home that fits into your budget. Whereas, when you buy an under-construction property if the project got delayed for three or more years the builder asked for increasing the cost of construction which you have to bear and it increases your overall budget.
  • No GST: Taxes play a crucial role in buying a property. Currently, a buyer does not pay any GST while buying a ready-to-move-in property. An under-construction flat, on the other hand, attract 12% GST. So, if you buy an under-construction flat worth Rs 60 lakh, you will have to pay Rs 720,000 as GST.
  • Rental income: If the flat you’ve bought as an investment and not for personal use or, if you are planning to move in later, you can rent it out and make some rental income. You can use the rental income to pay your EMIs or keep it as a rental income.
  • Ease of selling: It is difficult to sell an under-construction property, especially if its possession is delayed or it’s involved in litigation. In many cases, developers do not allow the transfer of apartments until the project is complete.

Disadvantages of buying a ready-to-move-in property:

  • High Property Cost: One of the major drawbacks of buying a ready-to-move-in property is the higher cost as compared to an under-construction property. The cost difference could be anywhere between 20-30%.
  • Construction Quality: It is very easy for an under-construction property to analyze the work progress and thus being aware of the quality of construction in terms of the material used, the strength of the foundations etc. But you can not conduct any such inspection in a completed flat.
  • Age of The Property: Buying a ready-to-move-in property might not always ensure you a brand new home like an under-construction property. The flat which you have bought might be up for sale for a long time. Therefore, if it has not been maintained properly, it might look old.
  • Exclusion from RERA: An old ready-to-move-in flats with Occupancy Certificate as on 1st May’ 2016 have not been included under RERA. Thus, its promoters are not accountable to make its information available on a public platform.
  • The under-construction projects are no less in terms of quality and cost if you do all your due diligence on the project such as price, location, developer, and other related aspects. The under-construction projects offer a higher return than a ready-to-move-in-property.

Advantages of buying an under-construction property:

  • Cost-effective: The cost of a property for the buyer is one of the most important things. An under-construction property is likely to cost less than ready-to-move-in properties. Buyer will get many options of under-construction properties. It is also true that possession gets delay but cost worth. With RERA in place, developers must deliver on time and if they don’t they are responsible for compensation to buyers. Post RERA, there is an added advantage of booking a unit in an under-construction for the buyers.
  • Good Appreciation on Investment: Since you are buying your property at a lower cost, the appreciation is expected to be higher. As the construction work in progress, the cost of your property also increases. For good returns on their investment, one should check the location, upcoming infrastructure and employment hubs situated nearby.
  • Payment Flexibility: While buying a ready-to-move-in property, a buyer has to pay the entire amount one chance. There are stamp duty, registration charges and other miscellaneous expenses as well. But at the initial stage for an under-construction property, you are paying 10-15% as a booking amount for under-construction properties. You pay EMIs to the bank in case the property is financed or else you pay as per the construction plan.
  • Discount and offers: It is very difficult to get a discount on a ready-to-move-in property. It is a complete house and you need to pay the cost as per the market and even more depending on the amenities. However, if you are buying in an under-construction project, there are several discounts and freebies offer such as gold coin, modular kitchen, air conditioner, gold coin, free car parking among others. You can also negotiate on the final price.

Disadvantages of buying under-construction property:

  • Under-construction properties are usually in the under-developed parts of the city and therefore, the capability for price appreciation due to future development is always good. However, this is not true in each and every case. Earlier, buyers have stuck in lots of litigation cases after buying under-construction properties. Before buying an under-construction property, one must have to look at the location and coming plans around that area. Apart from that, in an under-construction project, a buyer also has flexibility in payments, with options like construction-linked plans, subvention schemes, flexible payment plans, etc. Below is the list of disadvantages for an under-construction property:
  • Delay Possession: This is one of the most common issues related to under-construction projects. In most cases, the project got delayed due to various reasons and in this situation, the buyers face the consequences. Generally, the builders projected a maximum of 3 years timeline to complete the project. But in maximum cases, the project got delayed for more than 3-5 years.
  • The increase in property costs: This is another common problem faced by the people who book an under-construction property. If the project got delayed for even 2-3 years, the builder asks for the increased cost for the property. It is a kind of burden on you as you were expecting a certain amount to be paid once you got the possession of the property, but because of the delay in the construction, you have to bear the increased cost of the property.
  • Compromise with quality: When the builder shows you the sample flat, it is usually built with all possible facilities and with the best quality products. With time, you make an expectation of getting the same quality of work done within your home, but when you get the real home you find that it is much different from the promised one as the builders don’t use good material in construction. This type of situation arises very rarely and with unprofessional developers. After the implementation of RERA, a builder cannot change the building approval plan once sanctioned and display the same on their website.
  • False projection & promises: This is one of the most common and biggest issues with under-construction properties. The builders make numbers of promised to the customers related to infrastructure and amenities within the society, but in most cases, you don’t receive what you have been promised. But after implementation of RERA, the builder has to offer what he has promised during the agreement. A builder cannot change the building approval plan once sanctioned and display the same on their website.

What does CommonFloor data say?

As per CommonFloor research and analysis, we have selected four top real estate destination of India and found that Under-construction property rates are cheaper than ready-to-move-in. Why? Our builder is busy constructing the apartment and the locality around this apartment also develops with time. A few years later your apartment is ready and you take possession of it in a posh locality.  Under-construction flats give you bargaining power. You can negotiate with the builder for a cheap flat. Here is the list of top 4 localities and its rate as per BSP:

Locality

City

Avg Sale Price (RTM)

Avg Sale Price (UC)

Sarjapur

Bangalore

4,615

4,494

Whitefield

Bangalore

6,556

6,345

Hi-Tech City

Hyderabad

6,015

5,873

Rajarhat

Kolkata

4,923

4,476

Sector 104

Gurgaon

5,671

4,397

Price analysis between Ready-to-move-in Vs Under-construction:

RTM vs Under-construction2

From the above data, we found that the rate of an under-construction property is much cheaper than a ready-to-move-in property.

While buying a ready-to-move-in property, a buyer has to pay the entire amount one chance. There are stamp duty, registration charges and other miscellaneous expenses as well. But at the initial stage for an under-construction property, you are paying 10-15% as a booking amount for under-construction properties. You pay EMIs to the bank in case the property is financed or else you pay as per the construction plan. There is flexibility in terms of payment and you do not need to arrange a huge amount to buy an under-construction property.

The interest burden on loan:

In an under-construction property, a bank dispenses the loan amount partly to the builder. However, you may be required to pay the EMI on the approved loan amount and not the disbursed loan amount.

EMI for under-construction property permits you to make payments through EMIs, in a partially dispensed loan for an under-construction project. The loan amount is partially dispensed and EMI is fixed as per the approved amount. The period of the loan continues moving up with an extra amount being dispensed. The EMI will continue constantly during the tenure of the loan. Save on interest and secure faster payment of the loan. As your EMI starts instantly after the 1st disbursement, your principal repayment also starts together, by that reducing your interest burden and tenure.

Month

Stage

Amount Disbursed

Pre-EMI

1st Jan

On agreement

Rs 10 L (20%)

Rs 8,750

1st July

On completion of foundation and ground floor

Rs 10 L (20%)

Rs 17,500

1st October

On completion of 1st and 2nd floor

Rs 10 L (20%)

Rs 26250

31st December

On completion of 3rd floor and possession

Rs 10 L (20%)

Rs.39935

As explained above, you would pay (8750 x 6) + (17500 x 3) + (26250 x 3) = Rs 2,36,250 as pre-EMI (interest) towards the dispensed loan amount. Your EMI of Rs 39,935 for the leftover 20 years starts from 01-Feb (i.e., a month after final disbursal).

Here are the tax benefits that you can avail when you take a home loan for an under-construction property:

1) As under-construction properties are relatively cheaper, the capitals required for them would be relatively low. Therefore, the EMI payable on the loan amount would also be lesser.

2) As the EMI on the loan is pretty fair, you can increase your monthly instalments to decrease the loan period. This will encourage you to save more on your total interest payment.

3) The person who is taking the home loan can refuse the deduction of the interest amount paid during the pre-construction phase.

4) One can get tax benefits for the stamp duty and registration fee on the property.

5) The interest amount paid earlier to the year of completion is collected and 1/5th of this amount is released as a deduction each year for 5 years from the year of completion. Simply, the interest paid on the home loan during the pre-construction phase can be taken for deduction in these 5 equal instalments.

Recommendation & Suggestion:

You must buy under-construction flats only from builders who have approved from state RERA with a good reputation and established projects. After the implementation of RERA, a builder is responsible to deliver the project on the mentioned time and if they don’t, they are liable to pay compensation to the buyers.

Since you are buying an under-construction property at a lower rate, the appreciation is expected to be higher. As construction progresses, the price of your property also increases.

If you’re planning for under-construction property, estimate your financial position, documents required to purchase and about the developers. It is essential to know your neighbourhood and the available infrastructure around the area such as nearby markets, common public areas and parks, connectivity issues, among others.

If the developer is appreciated, then banks will definitely request you to get yourself a loan. Buying a home can be a risky business, but buying after a good research and thinking about the long term return will be profitable.

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Top 10 Richest Realty Developers of India

Jun 5,2019 / By / No Comment
Richest builders

Top 10 Real Estate Tycoons: India

The real estate sector is one of the most acknowledged sectors in the world. It consists of 4 sub-sectors namely housing, hospitality, commercial, and retail. The growth of this sector is well supported by the growth of the corporate setting and the demand for office space as well as urban and semi-urban housing.
At the same time, it is expected that this sector will incur more non-resident Indian (NRI) investment in both the short and long term. Bengaluru is expected to be the most preferred property investment address for NRIs, followed by Ahmedabad, Pune, Hyderabad, Chennai, Delhi/NCR, and Goa.

India is home to almost 245,000 capitalists, according to the latest report, and the number is assumed to touch 372,000 by 2022. Furthermore, India’s wealth growth of $451 billion signifies the 8th largest wealth gainer world-wide by country.

From a city-wise aspect, Mumbai is the most favored city of residence for the real estate capitalists with the city being home to 35 of them, followed by Delhi (22) and Bengaluru (21) and Pune which is home to 5 of the richest 100 realtors.

Here is the list of top 10 richest Indian Real Estate Builders as per Grohe Hurun India real estate rich list 2018

 

 

1) Mangal Prabhat Lodha: Lodha Group, Mumbai: Rs 27,150 crore

Mangal Prabhat Lodha, 62, with a net worth of Rs 27,150 crore, who is also a senior BJP leader is the richest real estate developer in the country. He laid the foundation of the Lodha Group. Lodha group is currently developing One Grosvenor Square, which is a premier property and home to the former Canadian embassy. He is followed by Jitendra Virwani of the Bengaluru-based Embassy Group with a total wealth of Rs.23,460 crore in 2018.

The city-based Lodha was at the second position last year with a wealth of Rs 18,610 crore, while DLF’s Kushal Pal Singh, who had topped the list last year with a wealth of Rs 23,460 crore, does not figure in the year’s top 10 list. However, his son Rajiv Singh comes third with a wealth of Rs 17,690 crore Lodha this year.

Residential Ongoing Projects: The Park, Amara, Upper Thane, World View, Lodha Venezia, Codename Smartmove, Lodha Seamount, Lodha Bel Air, Lodha Primo, Lodha Sterling, Lodha Altia, Codename Golden Ticket, Lodha Parkside, Lodha Marquise, Lodha Kiara, Lodha Panacea, Lodha Belmondo, Trump Tower Mumbai, Lodha Allura, Codename MoveUp, Casa Viva, Lodha Eternis, Lodha Splendora, The Reserve, and Codename Bullseye.

Residential Completed Projects: Lodha Fiorenza, Codename Golden Dream, World One, Lodha Evoq, Lodha Splendora, World Crest, The Reserve, Lodha Estrella, and Lodha Bellezza.

Commercial Projects: Lodha Supremus, Andheri, One Lodha Place, Lodha Supremus, Thane, iThink by Lodha, Thane, iThink by Lodha Palava, and Lodha Excelus New Cuffe Parade.

Retail: Xperia Mall, Palava.

Industrial Park: Palava.

 

2) Jitendra Virwani: Embassy Group, Bengaluru: Rs 23,160 crore

Jitendra Virwani, 52, is considered South India’s largest office space landlord with a fortune of Rs 16,700 crore. He is currently the chairman of the Embassy group and has been a pioneer in building industrial parks and warehousing spaces. He owns the Stone Hill International School, one of India’s largest privately owned academies. He is also a member of the equestrian federation of India.

Residential Ongoing Projects: Embassy Edge, Four Seasons Private Residences, Embassy Lake Terraces, Embassy Grove, Embassy Springs, and Embassy Residency.

Residential Completed Projects: Embassy Boulevard, Embassy Pristine, KCN Mansion, The Embassy, Embassy Oasis, Embassy Woods, Embassy Tranquil, Embassy Place, Embassy Palace, Embassy Orchid, Embassy Meadows, Embassy Highstreet, Embassy Heritage, Embassy Habitat, Embassy Grace, Embassy Espana, Embassy Eros, Embassy Crown, Embassy Court, Embassy Corner, and Embassy Casabella.

Ongoing Commercial Projects: Embassy Golflinks Business Park, Embassy Manyata Business Park, Embassy Techvillage, Embassy Knowledge Park, Embassy Tech Zone, Embassy Taurus Techzone, Trivandrum, Embassy Splendid Techzone, Chennai, and Phoenix Embassy.

Completed commercial Projects: Kirloskar Business Park, Embassy Square, Embassy Icon, Embassy Diamante, Embassy Galaxy, Embassy Point, Embassy Icon Annexe, Embassy Prime, Embassy Star, Embassy Paragon, Embassy Classic, and Embassy Chambers.

Ongoing Industrial Parks: Embassy Industrial Park, Hosur, Embassy Industrial Parks, Kolkata, Embassy Industrial Parks, Farukhnagar, Embassy Industrial Parks, Bilaspur, Embassy Parks, Sriperumbudur, and Embassy Industrial Parks, Chakan, Pune.

 Ongoing Hospitality Projects: Hilton Hotels and Resorts & Hilton Garden Inn and Four Seasons Hotel.

Completed Hospitality Projects: Lounge Hospitality, Hilton Bangalore Embassy Golf Links, BLVD Club, and Le Meridien Bangalore.

Ongoing Integrated Township: Embassy Springs and Embassy Residency

Ongoing Retail Projects: Embassy Mall

Completed Retail Projects: Victoria Embassy

Completed Educational Projects: Embassy International Riding School and Stonehill International School.

 

 3) Rajiv Singh: DLF Limited, New Delhi: Rs 17,690 crore

Rajiv Singh, 33, is an Executive Vice Chairman of the Board of DLF Limited. He is currently the richest real estate rival in India, ranked 3rd in the list with a wealth of Rs 17,690 crore. The owner of Delhi Land and Finance (DLF) is one of the largest real estate developers, who is a pathfinder in developing Gurugram the leading Financial and Industrial Hub in the country. The only real estate company that collected the largest IPO and developed 27 million sq.ft to date. It can be noted that senior Kushal Pal Singh has moved out of daily operations of DLF and has transferred his shares to his son Rajiv and daughter Piya. Now, Rajiv Singh has taken the position of Kushal Pal Singh and operating the company.

Ongoing Residential Projects: DLF The Crest, DLF Garden City Plot, DLF Park Place, and DLF Garden City.

Completed Residential Projects: DLF The Skycourt, DLF The Primus, DLF New Town Heights, Kolkata, DLF Ultima,, DLF The Summit, DLF Bella Greens, DLF Exclusive Floors, DLF Westend Heights, DLF Carlton Estate, DLF Royalton Towers, DLF Trinity Towers, DLF The Belaire, DLF Westend Heights New Town, DLF Park Place, DLF Princeton Estate, DLF Wellington Estate, DLF Ph-5, DLF New Town Heights, Kakkanad, Kochi, DLF Regal Gardens, DLF Valley Plots, DLF Kings Court, DLF Hyde Park Bungalows, DLF Woodland Heights at My Town, DLF Garden City, Indore, DLF Commanders Court, DLF Hyde Park Terraces, DLF Select Homes, DLF Hyde Parks, Mohali, DLF Gardencity, Chennai, DLF Garden City Plots, Gurgaon, DLF New Town Heights, Gurgaon, DLF Belvedere Tower, DLF Park Place, Jalandhar, DLF Belvedere Park, Gurgaon, DLF valley, Panchkula, DLF Garden City, Lucknow, DLF Express Greens, Gurgaon, DLF Kings Court Villa, Delhi, DLF Chisholm Apartments, Gurgaon, DLF Richmond Park, Gurgaon, DLF Maiden Heights at My Town, Bangalore, DLF Magnolias, Gurgaon, DLF Queens Court, Delhi, DLF Oakwood Estate, Gurgaon, DLF The Icon, Gurgaon, DLF Silver Oaks, Gurgaon, DLF Regency Park, Gurgaon, DLF Windsor Court, Gurgaon, DLF Regency Park-2, Gurgaon, DLF Beverly Park, Gurgaon, DLF Pinnacle, Gurgaon, DLF Hamilton Court, Gurgaon, DLF The Aralias, Gurgaon, DLF Beverly Park-2, Gurgaon, DLF Hyde Park Plot, Mohali, DLF Ridgewood Estate, Gurgaon, DLF Alameda, Gurgaon, DLF Colony Old, Gurgaon, DLF Phase-3, Gurgaon, DLF Capital Green Ph-3, Delhi, DLF Capital Green Ph-1, Delhi, DLF Capital Green Ph-2, Delhi, DLF Garden City, Hyderabad, DLF Phase-2, Gurgaon, DLF Ph-1, Gurgaon, DLF Phase-4, Gurgaon,

 

4) Chandru Lachmandas Raheja: K Raheja Corp, Mumbai: Rs 14,420 crore

Chandru Lachmandas Raheja, 78, manages the privately-owned commercial developer in Mumbai with a wealth of Rs 14420 crore. K Raheja Corp has holdings of fully leased 20 million sq.ft office spaces across Mumbai, Navi Mumbai, Hyderabad, and Pune. K Raheja Corp developed the first planned suburban business park, Mindspace, in Mumbai’s Malad suburb.

Ongoing Residential Projects: Artesia-Mumbai, Vivarea-Mumbai, Vistas premiere-Pune, Viva-Pune, and Vistas-Hyderabad.

Completed Residential Projects: Viva-Goa, Quiescent Heights-Hyderabad, and Vistas-Mumbai.

Completed Commercial Projects: Mindspace IT Park-Malad, Mindspace SEZ & IT Park-Airoli East, Mindspace SEZ & IT Park-Airoli West, Mindspace SEZ & IT Park-Juinagar, Mumbai, Commerzone IT Park-Yerawada, Mindspace SEZ & IT Park-Bengaluru, Gera Commerzone SEZ & IT Park-Kharadi, Pune, Mindspace SEZ & IT Park-Madhapur, Hyderabad, Mindspace SEZ & IT Park-Pocharam, Hyderabad, Mindspace SEZ & IT Park-Shamshabad, Hyderabad, Commerzone Knowledge City (SEZ & IT Park)-Hyderabad, Commerzone IT Park, Porur-Chennai, Commerzone IT Park, Pallikaranai-Chennai, and Mindspace SEZ & IT Park-Gandhinagar, Gujarat.

Completed Hospitality Projects: Chalet Hotels-Renaissance, Mumbai, Lakeside Chalet, Marriott Executive Apartments, Mumbai, Four Points By Sheraton Navi Mumbai, Vashi, The Westin Hyderabad Mindspace, Inorbit Mall, Whitefield, Bengaluru, Bengaluru Marriott Hotel Whitefield, Whitefield Bengaluru – Commercial, JW Marriott Mumbai, Sahar, and The Orb Retail, Sahar And Business Centre And Office, Sahar, Mumbai.

Groups Hotels: The Resort, Madh-Marve-Mumbai, and J W Marriott Juhu.

Retails: Shoppers Stop, and Crossword.

Shopping Malls: Inorbit-Malad.

 

5) Vikas Oberoi: Oberoi Realty, Mumbai: Rs 10,980 crore

Vikas Oberoi, 48, who runs the Oberoi Realty, has a capital of Rs 10,980 crore. He took the controls of the company begun by his father Ranvir Oberoi. His corporate policy and diversification plan have seen huge growth for Oberoi Realty in nine folds with a net profit of 40%. Under his leadership, the company has developed 22 million sq.ft in progress and brands such as Ritz Carlton.

Ongoing Residential Projects: Sky City-Borivali East, Enigma, and Eternia in Mulund West, and Three Sixty West in Worli.

Completed Residential Projects: Oberoi Splendor, Splendor Grande, and Prisma in Andheri East, Oberoi Sky Gardens, Sky Heights, and Springs in Andheri West, Oberoi Esquire, Exquisite, Seven, and Woods in Goregaon East, Oberoi Beachwood House-Juhu, Oberoi Gardens, and Parkview in Kandivali East, Oberoi Crest-Khar, Priviera-Santacruz West,

Completed Commercial Projects: Oberoi Chambers in Andheri West, and Commerz and Commerz II in Goregaon East.

Completed Retail Project: Oberoi Mall in Goregaon East.

Completed Social Infrastructure: Oberoi International School – JVLR Campus, and Oberoi International School – OGC Campus.

Completed Hospitality Projects: The Westin Mumbai Garden City, Goregaon East.

 

 6) Niranjan Hiranandani: Hiranandani, Mumbai: Rs 7880 crore each

Niranjan Hiranandani, along with his brother Surendra Hiranandani, established the Hiranandani group in the late 1970s by. The Mumbai-based developer has presence across commercial, residential, hospitality and education segments. The group is one of the early developer’s to undertake township development projects, such as Hiranandani Gardens in Powai and Hiranandani Meadows and Hiranandani Estate in Thane.

Ongoing Residential Projects: Hiranandani Lake Enclave-Thane, Hiranandani Glenwood-Thane West, Hiranandani Glenridge-Thane West, Hiranandani Eagleridge Wing B-Thane West, Hiranandani Eagleridge Wing A-Thane West, Hiranandani Flamingo-Thane West, Hiranandani Barca-Thane West, Hiranandani Athena-Thane West, Hiranandani Eagleton-Thane West, Hiranandani Pelican-Thane West, Hiranandani Castle Rock A, and B Wing-Powai, Hiranandani Castle Rock C and D Wing-Powai, Hiranandani Obelia B-Thane West, Hiranandani Fortuna B-Thane West, Hiranandani Solitaire C-Thane West, Hiranandani Obelia A-Thane West, Hiranandani Barrington-Thane West, Hiranandani Preston-Thane West, Hiranandani Clifton-Thane West, Hiranandani Fairway-Thane West, Hiranandani Glendale-Thane West, Hiranandani Cloverdale-Thane West, Hiranandani Willowcrest-Thane West, Hiranandani Solitaire B-Thane West, Hiranandani Atlantis A And B Wing-Powai, Hiranandani Atlantis C Wing-Powai, Hiranandani Hampton-Thane West, Hiranandani Waldorf-Thane West, Hiranandani Senina-Thane West, Hiranandani Gardens Florentine-Powai, Hiranandani Gardens Lake Castle-Powai, Hiranandani Gardens Tulip-Powai, Hiranandani Canosa-Thane West, Hiranandani Park Plaza A-Thane West, Hiranandani Polaris-Thane West, Hiranandani Leonardo-Thane West, Hiranandani Gardens Birchwood-Powai, Hiranandani Gardens Odyssey II-Powai, Hiranandani Gardens Odyssey I-Powai, Hiranandani Oyster-Thane West, Hiranandani Casa Marina CHS-Thane West, Hiranandani Greenwich-Thane West, Hiranandani Capri-Thane West, Hiranandani Carrara Apartment-Thane West, Hiranandani Phoenix-Thane West, Hiranandani Villa Royale-Thane West, Hiranandani Palladio CHS-Thane West, Hiranandani Crown-Thane West, Hiranandani Caviana-Thane West, Hiranandani Princeton CHS-Thane West, Hiranandani Northside-Thane West, Hiranandani Estate Penrose-Thane West, Hiranandani Shree Sarnam-Thane West, Hiranandani Garden Eternia-Powai, Hiranandani Valentina-Thane West, Hiranandani Greenwood-Thane West, Hiranandani Fedora-Thane West, Hiranandani Chelsea-Thane West, Hiranandani Fiona-Thane West, Hiranandani Srushti CHS-Thane West, Hiranandani Penrith-Thane West, Hiranandani Garden Eldora-Powai, Hiranandani Glen Croft-Powai, Hiranandani The Walk-Thane West, Hiranandani Maple A B and C Wing-Powai, Hiranandani Flora-Panvel, Hiranandani Orion-Panvel, Hiranandani Selene-Panvel, Hiranandani Artemis-Panvel, Hiranandani Zeus-Panvel, Hiranandani Hera-Panvel, Hiranandani Venus-Panvel, Hiranandani Vesta-Panvel, Hiranandani Aura-Panvel, Hiranandani Atlas-Panvel, Hiranandani Minerva-Panvel, Hiranandani Clio-Panvel, Hiranandani Mellona-Panvel, Hiranandani Helios-Panvel, Hiranandani Argus-Panvel, Hiranandani Aurora-Panvel, Hiranandani Hermes-Panvel, Hiranandani Nebula-Andheri West, Hiranandani Regent Hill-Powai,

Completed Residential Projects: Hiranandani Gardens-Powai, Hiranandani Estate-Thane West, Hiranandani Rodas Enclave-Thane West, Hiranandani The Walk-Thane West, Hiranandani Cardinal-Thane West, Hiranandani Lavinia-Thane West, Hiranandani Canary-Thane West, Hiranandani Crystal Court Co-Operative Housing Society-Kharghar, Hiranandani Meridian-Thane West, Hiranandani Estate Brentford-Thane West, Hiranandani Villa Grand-Thane West, Hiranandani Estate Hill Grange-Thane West, Hiranandani Woodrose-Thane West, Hiranandani Casa Blanca-Thane West, Hiranandani Evelina-Thane West, Hiranandani Arlington-Thane West, Hiranandani Acacia-Thane West, Hiranandani Tiara-Thane West, Hiranandani Estate Queens Gate-Thane West, Hiranandani Meadows-Thane West, Hiranandani Paloma-Thane West, Hiranandani Astra-Thane West, Hiranandani Brookhill-Thane West, Hiranandani Tribeca-Thane West, Hiranandani Brentwood-Powai, Hiranandani Evita-Powai, Hiranandani Seawood-Navallur, Chennai, Hiranandani Garden Eden IV-Powai, Hiranandani Avalon-Powai, Hiranandani Glen Dale-Thane West, Hiranandani Gardens Glen Ridge-Powai, Hiranandani Maitri Park-Chembur, Hiranandani Loftline Plot-Shankarpalli, Hyderabad, Hiranandani Heritage-Kandivali West, and Hiranandani Castalia-Thane West.

Ongoing Commercial Projects: Hiranandani Business Park-Thane, and Hiranandani Solus-Thane.

Completed Commercial Projects: Hiranandani Zenia-Thane.

Health Care: Dr. L H Hiranandani Hospital-Powai.

Educational Institutions: Hiranandani Foundation School-Powai, and HFS International-Powai, and Hiranandani Foundation School-Thane.

Hospitality: Meluha-The Fern-Powai, and Rodas-An Ecotel Hotel-Powai.

 

 7) Surendra Hiranandani: Hiranandani, Singapore: Rs 7880 crore each

Niranjan Hiranandani, along with his brother Surendra Hiranandani, established the Hiranandani group in the late 1970s by. The Mumbai-based developer has presence across commercial, residential, hospitality and education segments. The group is one of the early developer’s to undertake township development projects, such as Hiranandani Gardens in Powai and Hiranandani Meadows and Hiranandani Estate in Thane.

All residential, commercial, Hospitality, Educational, Retail, and health-care projects are mentioned above will be the same for Surendra Hiranandani.

 

 8) Ajay Piramal & Family: Piramal Realty, Mumbai: Rs 6,380 crore

Ajay Piramal, 62, who leads the Piramal Group, has a fortune of Rs 6,380 crore. He grew the textile business to a conglomerate with diversified business interest. His corporate policy and reshaping plan have seen huge growth for Piramal Realty. Under his guidance, the company has developed over 10 million sq.ft. This company has developed India’s first mall, Crossroads, at South Mumbai.

Ongoing Residential Projects: Piramal Revanta Tower 1-Mulund West, Piramal Vaikunth Cluster 4A-Thane West, Piramal Revanta-Mulund West, Piramal Vaikunth Cluster 4-Thane West, Piramal Vaikunth Cluster 2-Thane West, Piramal Vaikunth Cluster 1-Thane West, Piramal Mahalaxmi Central Tower 2-Mahalaxmi, Mumbai, Piramal Mahalaxmi-Mahalaxmi, Mumbai, Piramal Revanta Tower 3 And 4-Mulund West, Piramal Revanta Tower 2-Mulund West, Piramal Aranya Wing C-Byculla, Mumbai, Piramal Aranya Arav Tower-Byculla, Mumbai, and Piramal Aranya Wing A-Byculla, Mumbai.

 

 9) Manoj Menda: RMZ Corp Holdings Private Limited, Bengaluru: Rs.5900 crore

Manoj Menda is the company’s Co-Owner, Co-Founder and Corporate Chairman. He manages the company’s projects, including policy development, capital allocation, portfolio management, growth, and partnership development. He acts on the Investment and Advisory Committees of all RMZ private fund plans.

Ongoing Residential Projects: RMZ Azure-Hebbal, Bangalore

Completed Residential Projects: RMZ Galleria-Yelahanka, Bangalore, RMZ Sawaan-Bangalore near Yelahanka, Bangalore, RMZ Latitude-Hebbal, Bangalore, RMZ Woodsvale-Frazer Town, Bangalore,

Commercial Projects: RMZ Ecoworld-Bellandur, Bangalore, RMZ Ecoworld Series 20-Bellandur, Bangalore, RMZ Ecoworld Series 30-Bellandur, Bangalore, RMZ Ecospace – Marathahalli – Sarjapur Outer Ring Road, Bangalore, The Millenia-Ulsoor, Bangalore, RMZ Infinity-Old Madras Road, Bangalore, RMZ NXT-Whitefield, Bangalore, RMZ Centennial-Whitefield, Bangalore, RMZ Millenia Business Park-Chennai, One Paramount-Chennai, RMZ Washington-Chennai, The Skyview-Hyderabad, RMZ Nexity-Hyderabad, and RMZ Infinity-Gurgaon.

 

10) Raj Menda: RMZ Corp Holdings Private Limited, Bengaluru: Rs.5900

Mr. Raj Menda is the Co-owner & Founder of RMZ Corp, a leading commercial and residential real estate firm in India. He has been remodeling RMZ Corp into a progressive, ambitious and customer-driven company. As the Chief Administrator of RMZ Corp, his duties include managing the company’s performance, forming business plans and strategies, defining the field of the company, initiating business aims, developing new businesses, forecasting and analyzing investment for projects.

All ongoing and completed residential as well as commercial projects mentioned above will be the same for Raj Menda.

GROHE Hurun India Real Estate Rich List 2018 by city:

Rank

City

No of Individuals

Richest Individual

Net Worth (Rs-Crore)

1

Mumbai

35

Mangal Prabhat Lodha

27,150

2

New Delhi

22

Rajiv Singh

17,690

3

Bangalore

21

Jitendra Virwani

23,160

4

Pune

5

Atul Chordia

1,810

5

Hyderabad

4

Rameshwar Rao Jupally

3,370

6

Noida

2

RK Arora

510

6

Chennai

2

M Arun Kumar, KR Anerudan

680

6

Gurgaon

2

Roop Kr Bansal

1,990

6

Cochin

2

KV Abdul Azeez & Family

650

10

Kolkata

1

Harshvardhan Neotia & Family

1,880

10

Thane

1

Shailesh Puranik and family

370

10

Ahmedabad

1

Gautam Adani and family

2,720

Data source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

Top Property Developers in Residential Category 2018:

Rank

Name

Company

Net Worth (Cr)

City of Residence

1

Mangal Prabhat Lodha

Lodha Group

27,150

Mumbai

2

Vikas Oberoi

Oberoi Realty

10,980

Mumbai

3

Surendra Hiranandani

Hiranandani

7,880

Singapore

3

Niranjan Hiranandani

Hiranandani

7,880

Mumbai

5

Ajay Piramal and family

Piramal Realty

6,380

Mumbai

Data source:

GROHE Hurun India Real Estate Rich List 2018

The Biggest Real Estate Gainers in 2018:

No

Name

Wealth (Cr)

% Change

Company

Segment

1

Manoj Menda

5,900

122%

RMZ

Commercial

2

Raj Menda

5,900

122%

RMZ

Commercial

3

Ajay Piramal & Family

6,380

75%

Piramal Realty

Residential

4

Harshavardhan Neotia and family

1,880

66%

Ambuja Neotia

Residential

5

Jude Romell and Dominic Romell

720

61%

Romell Real Estate

Commercial

6

Sunil Mittal and family

1,230

54%

Bharti Realty

Commercial

7

Boman Rustom Irani

1,150

52%

Keystone Realtors

Residential

8

Percy Sorabji Chowdhry

580

52%

Keystone Realtors

Residential

9

Chandresh Dinesh Mehta

580

52%

Keystone Realtors

Residential

10

Jitendra Virwani

23,160

39%

Embassy

Commercial

Data Source: GROHE Hurun India Real Estate Rich List 2018

 Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be held legally responsible for any actions taken based on the information provided.

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TVS Emerald enters into Bengaluru Realty Market

May 30,2019 / By / No Comment
BUDGET HOME

TVS Emerald Forays into Bengaluru’s Realty Market

TVS Emerald, the real estate wing of TVS Group publicized its entry into the Bengaluru realty market with the acquisition of two land parcels. As part of the company’s plan to spread out its business in the South. As per TVS Emerald Executive Vice President, over the last 6 years, the company has been developing project across Chennai and is developing more or less 6 million sq.ft. They are happy to bring the same values to Bengaluru and develop projects. south, the property developer acquired two land parcels at Hosur Road and Kanakpura Road.

The land parcel on Hosur Road, near Manipal Country will be developed into an ambitious high-rise apartment over 6-acres aimed to target young professionals. The major USP of this development is – it is close to office spaces as well as the proposed Namma Metro Line Phase-2 (Puttenahalli – Anjanapura (6.29).

On the other hand, at Kanakpura Road, the company will carry out a gated community, consisting of villas and row houses, span across 6.4-acres. This gated community will have world-class amenities, offering an exclusive lifestyle and superb connectivity.

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