Savills India Facilitates Prime Land Deal for Inspira Builders in Bengaluru
Savills India, has facilitated over 2 acres of prime land deal with necessary approvals for Bengaluru based real estate developer, Inspira Builders in Electronic City to develop a residential township spanning over 2 lakh Sq. Ft. with an estimated valuation of Rs. 150 Crores. The land was to be developed by Sycon Construction earlier, and is now taken over by Inspira Builders to build a premium residential project. This prime land is located in Electronic City which houses major IT companies such as Infosys, Wipro, TCS, etc. and already has a well-developed infrastructure and connectivity via the elevated expressway and the NICE road. The upcoming metro rail under the Namma Metro Yellow line is set to boost the demand for residential housing in this micro-market. This stalled project had various stakeholders to deal with; Savills team was instrumental in settling with all pending issues and landowner concerns to seal the deal. Savills India has facilitated several key property and land transactions amid the ongoing pandemic. Speaking about the space take up, Aravind M S, Founder and MD, Inspira Builders said, “Electronic City has witnessed exponential growth over the years. This land acquisition and development of the project will be instrumental in increasing our geographic as well as brand presence in the residential segment of Bengaluru. Savills India ensured that we get a strategic land parcel and also eased the entire process for us with a great turn around”. Rajan Kumar Mishra, Senior Director, Land Advisory & Transactions, Savills India said, “The much awaited metro line connecting Electronic city to other important locations in Bengaluru and the ongoing Work from Home (WFH) policy have contributed to the rise in demand for residential projects in this micro-market. In the coming months, we anticipate more such residential projects gaining traction given the connectivity and infrastructure around Electronic city”.
Tags : News/Views Bengaluru Savills Land Deal Inspira Builders Residential Township Land Transaction Namma Metro