K Raheja Corp Anticipates ₹1,700 Crore Revenue from Upscale Project in Bengaluru

K Raheja Corp Homes, the residential arm of the K Raheja Corp group, has extended its luxury brand 'Vivarea' to Bengaluru, unveiling a prestigious project in Koramangala with a potential revenue of ₹1,700 crore. Situated on an expansive 8.25-acre land parcel owned by group company Chalet Hotels, the luxury project comprises nine towers and features a total of 300 spacious apartments.

The residences, characterized by their generous size ranging from 3,500 to 4,000 square feet, offer configurations of 3 to 5 bedrooms, commanding a premium price starting at over ₹6 crore. With an average rate of ₹26,000-27,000 per square foot, the project caters to the high-end real estate market.

Ramesh Ramanathan, CEO of K Raheja Homes, emphasized the aspirational nature of the project, noting that the Koramangala market, characterized by limited greenfield land prospects, adds to its allure. The development is poised to become a sought-after address in Bengaluru's real estate landscape.

The Koramangala project stands out not only for its residential offerings but also incorporates a commercial development within the premises. The strategic inclusion of commercial spaces adds a multifaceted dimension to the project, catering to both residential and business needs.

Given the current scenario in Bengaluru's real estate market, industry experts point out a limited housing stock, with existing inventory likely to be depleted within a year. This scarcity, coupled with constraints on available land, particularly in central Bengaluru, presents a favorable opportunity for builders like K Raheja Corp Homes, as demand for quality residences continues to rise in the city. The luxury project in Koramangala is well-positioned to capitalize on this demand, offering a unique blend of upscale living and strategic commercial spaces.

HBL