Bengaluru-based Century Real Estate is set to expand its portfolio with the development of eight housing projects spanning over 55 acres in the next 18 months. This announcement was made by the company’s director for sales, marketing, and CRM, Maninder Chhabra, in an interview with HT.com. The projects will be spread across North and East Bengaluru and will offer homes starting from ₹1.4 crore.
Century Real Estate is known for bringing in financial partners based on the needs of each project. However, the company has not disclosed the expected revenue or the gross development value for these new ventures. Two of the eight upcoming projects, Codename Built Rare in Indiranagar and Codename UnbeLivable in Yelahanka, have already raised ₹650 crore during their pre-launch phase. These projects are slated for an official launch in the next two months. Notably, Codename Built Rare is expected to set a new price benchmark in Bengaluru’s residential real estate market.
The pricing for Codename Built Rare will range from ₹5.5 crore to ₹25 crore, with a total estimated revenue of ₹2,200 crore. This 8.5-acre project will consist of 345 three- and four-bedroom apartments, imperial units, townhouses, and penthouses. The company aims to capitalize on the growing demand for luxury living in Bengaluru.
Century Real Estate has ambitious financial goals for the ongoing financial year, with plans to double its turnover to ₹2,100 crore, following a successful first half where it crossed ₹1,024 crore. The company intends to continue growing by strategically utilizing its land bank and entering into joint development agreements.
In addition to its residential projects, Century Real Estate is also considering foraying into the senior living category in the coming year, marking another step in its expansion strategy.
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