Realty firm Shriram Properties Ltd on Wednesday (March 13) said the company has launched a new residential project under the ‘Codename Ultimate,’ with a project revenue potential of ₹350 crore.
The Balinese-inspired project near Electronic City in Bengaluru has 414 units across six towers featuring integrated co-working spaces and ample open areas, Shriram Properties said in a regulatory filing.
The project is being developed under the joint development model, with an aggregate saleable area of around five lakh square feet. This 400+ unit Balinese-themed project prioritises open spaces, encompassing over 70% of the total area.
The development offers a selection of spacious two-bedroom and three-bedroom apartments, designed to reflect the essence of Balinese architecture and lifestyle. Situated just a few minutes from Electronic City, the project is designed to seamlessly integrate contemporary living with natural landscaping.
The project's centrepiece is 14,000-square feet clubhouse, designed to accommodate a variety of recreational and wellness activities. Boasting over 40 world-class modern amenities, the clubhouse caters to residents of all ages, providing a diverse range of options for leisure and well-being, the company added.
Vivek Venkateswar, Chief Sales and Marketing Officer of Shriram Properties, said, "Despite the prevailing focus on Electronic City, there's a rising demand for superior residences in adjacent regions. This spurred our decision to prioritise the launch of our project under ‘Codename Ultimate,’ addressing this market gap."
Shares of Shriram Properties Ltd ended at ₹96.75, down by ₹10.90, or 10.13%, on the BSE.
