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Concorde Bengaluru buys 4.5 acre land for Rs 1 billion

2024-03-29

Bengaluru-based real estate developer, Concorde, has announced the acquisition of a 4.5-acre land parcel in Thanisandra, a micro market of North Bengaluru, for a sum of Rs 1 billion. The purpose behind this acquisition is to develop a residential project with potential revenue of Rs 4 billion.

According to the company, Thanisandra's strategic location, in proximity to IT and business hubs as well as the Kempegowda International Airport, makes it an ideal choice for this venture.

Managing director of Concorde, Anil R G, expressed, "This project aligns with our strategic goal of expanding our presence in Bengaluru while offering enhanced services to our customers. It presents itself as a lucrative investment opportunity for rental yield and as a residential option, especially due to its proximity to major IT corridors such as Manyata Tech Park and Whitefield."

Furthermore, he emphasized the company's commitment to home automation, citing it as a pivotal aspect of their safety and energy conservation initiatives.

Concorde, known for its extensive real estate portfolio in Bengaluru, boasting 25 million square feet of developed residential and commercial spaces, is determined to continue its growth trajectory.