Sumadhura Group Acquires 5-Acre Land in East Bengaluru for ₹500 Cr Residential Project

Bengaluru, June 13 Real estate developer Sumadhura Group has bought a 5-acre land parcel at Soukya Road on East in Bengaluru, a prominent new addition to its expanding land portfolio. A company spokesperson confirmed that the residential development on the plot is expected to fetch a revenue of ₹500 crore.

Commenting on the acquisition, Madhusudhan G, Chairman and Managing Director of Sumadhura Group, said, “The acquisition of this prime land on Soukya Road is a strategic one, reflecting our inherent knowledge of the changing real estate paradigm of East Bengaluru. We are proud to develop projects on such strategically positioned land banks, where not only heavy appreciation is but also an enhanced lifestyle is in store for our esteemed purchasers.”

Soukya Road is developing as a great real estate destination in East Bengaluru. The locality offers plots and villas at reasonable rates amidst a serene environment. The increasing popularity of these areas is driven by good proximity to metro stations, key IT zones and social infrastructure, thus making these destinations a lucrative investment option for both the end users and investors.

The new project is in line with Sumadhura’s overall approach for growth and growth plans to scale up its residential development presence across Bengaluru and Hyderabad’s high potential high growth corridors. (Take note, the developer has already completed more than 54 projects comprising in excess of 13 million square feet, with another 40 million square feet in the pipeline.)

Hoping to offer a wider range of services, earlier this year the company made a foray into the managed office space industry with the creation of its new brand Workship. Unveiled in May, the initiative seeks to lease out more than one million square feet and an excess of 10,000 seats over the next three years.

The acquisition reinforces Sumadhura’s crusade to shape the future of modern urban living with the development of high-quality housing and commercial projects for the discerning city dweller.