Realty firm Sumadhura Group will invest Rs 250 crore to develop a housing project in Bengaluru. In a statement on Tuesday, the company said it has entered South Bengaluru with the launch of project 'Codename Uru' located in Kenchanhalli. Spread over 3.25 acres of land, this landmark project is expected to generate a topline of Rs 500 crore.
The project, which is expected to be completed by December 2029, will have 297 homes across two towers of 28 floors each.
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The company will invest about Rs 250 crore over the next four years to develop this housing project.
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Madhusudhan G, Chairman and managing director of Sumadhura Group, said, "South Bengaluru has emerged as a vibrant growth corridor...we see this expansion as a natural step in our vision to create strategically developed and lifestyle-focused communities across Bengaluru." In the past 30 years, the company has delivered 54 projects comprising over 130 lakh square feet, and up to 400 lakh square feet area is in the pipeline. The company has a presence across all major verticals of real estate, including housing, commercial and warehousing parks.
The company acquires land outright and also partners with landowners to develop projects.
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