Arvind SmartSpaces Ltd. announced that its wholly-owned subsidiary Arvind Homes Pvt. Ltd. launched and sold out the first phase of its residential plotting project Arvind Greatlands in Bengaluru on November 26.
The first phase of the project is located in the Devanahalli area of Bengaluru and comprises 400 plots with a saleable area of 0.57 million square feet. It generated a booking value of more than Rs 200 crore and the entire first phase of the residential project was sold out in 10 hours.
ASL had acquired 50 acres of land for the project under HDFC Platform 1, where HDFC has invested Rs 50 crore. The company acquired 18 acres on an outright basis adjacent to the Arvind Greatlands project with plans to expand it further.
The Arvind Greatlands project has excellent infrastructure with RCC roads throughout the entire project and also has an executive golf course.
Besides this, buyers will also get a membership to the Monogram Resort, Devenahalli, which offers amenities like a rooftop infinity pool, table tennis, badminton court, gymnasium, indoor games room, restaurant, library, spa, yoga pavilion, discotheque, multimedia theatre, and jogging track.
With Arvind Greatlands, ASL has now entered the plotted development segment in Bengaluru.
Arvind SmartSpaces has around 27 million square feet of real estate development across the country. It has developed projects in Gandhinagar, Ahmedabad, Pune, and Bengaluru.
The shares of Arvind SmartSpaces closed 7.30 percent higher at Rs 279.90.
(Edited by : Rukmani Krishna)
