Poulomi Lines Up Rs 800-cr Realty Project In Bengaluru
The premium residential project will come up in 9 acres with 4 towers, 850 apartments
Prashanth Rao, Director, Poulomi Estates, speaking to the media in Hyderabad on Thursday. M Maruthi Rao, Vice President-Strategy, also seen.
Hyderabad: City-based realty firm Poulomi Estates Private Limited on Thursday announced its new Rs 800-crore high-rise premium residential project that would mark its entry into highly-competitive Bengaluru real estate market.
The new residential project, which will come up on a 9-acre land parcel in Manyata Integrated Township Phase 2 in Northern Bengaluru, will comprise four towers of 35 floors each. The company is planning for a total of 850 apartments with flat sizes ranging from 1,450 sft to 2,550 sft. The sale price is expected to be around Rs 10,000 per sft.
“With this new project, we are entering Bengaluru market which offers high growth potential. This project is a part of our larger expansion strategy in South India, with plans to explore further opportunities in Bengaluru’s real estate market,” Prashanth Rao, Director, Poulomi Estates, told the media here.
The company will develop the project in two phases with two towers each. It will formally launch the first phase development in December this year after obtaining necessary approvals.
“Designed to cater to the modern urban lifestyle, our Bengaluru project will attract corporate professionals looking for luxury and convenience.
It will offer state-of-the-art amenities, including premium apartments with landscaped gardens, a rooftop infinity pool, smart home technology, and a fully-equipped fitness centre,” said M Maruthi Rao, Vice President-Strategy, Poulomi Estates.
Founded two decades ago, Poulomi Estates developed six premium residential projects of 2.25 million sft .and two commercial projects of about 1 million sft in Hyderabad till date. It is currently developing Poulomi Palazzo, a 55-storey luxury residential project, and Poulomi Infinity, a commercial real estate project. It will launch two more projects, both residential, in
Hyderabad early next year.
