Sumadhura Group To Invest ₹2,000 Cr On Construction Of Housing Project In Bengaluru

Realty firm Sumadhura Group will invest around ₹2,000 crore to construct a housing project in Bengaluru.

The company has signed a Joint Development Agreement (JDA) with a land owner to build a residential project on a 17-acre land parcel in Whitefield-Kannamangala Corridor, East Bengaluru.

Sumadhura Group will invest around ₹2,000 crore on the construction of this project, a company official told PTI.

The project will have 2.5 million sq ft of saleable area.

Madhusudhan G, Chairman & Managing Director, Sumadhura Group, noted that there is a huge growth potential in Whitefield-Kannamangala Corridor.

Bengaluru-based Sumadhura Group has completed 56 projects, spanning over 17 million square feet. It has more than 40 million square feet in the pipeline.

Besides housing, the group is also present in office, retail, warehousing and co-living segments of the real estate sector.

In June, Sumadhura Group announced an investment of around ₹400 crore to develop the second phase of 'Sumadhura Panorama' in Devanahalli, North Bengaluru.

This new phase spans 34 acres and comprises around 450 villa plots, each costing more than ₹1 crore. In the first phase, the company had offered 550 plots across 50 acres.