Luxury Player Embassy Group Set To Focus On Mid-Income, Affordable Homes


    Share post:

    Bangalore-based luxury homes giant Embassy Group is now set to shift its focus to affordable homes instead of uber-luxury. The declaration came from the company’s newly appointed chief operating officer Aditya Virwani who declared the company will not build above Rs 2-crore property anymore.

    “The company has decided not to build anymore above Rs 2-crore property as there is an oversupply in this segment. Also, with real estate regulatory coming in, buyers want to see the product before investing in such high-end assets,” Virwani told ET Realty.

    Embassy Group will soon foray into mid-income housing sector with several housing projects of up to Rs 80 lakh. The firm will also venture into affordable homes costing about Rs 30 lakh.


    The group’s new projects will be spread over 800-1,300 sq ft in 1-, 2-, and 3-bhk configurations. The company is also planning to launch large commercial projects to cater to the demand from large companies for big offices spaces across the southern cities.

    The company’s CEO, who is also part of the recently constituted real estate investment trust board, also revealed that Embassy Group has around 200 acres of residential and commercial projects in the planning stage around the Bangalore airport.

    “We have around 200 acres of residential and commercial projects in the planning stage around the Bangalore airport. The commercial component in it will be 10 million sq ft,” said Virwani.


    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Ghaziabad Indirapuram Handover: Progress Update and Prospects for End-July Transition

    GHAZIABAD, India — Officials from the Ghaziabad Development Authority (GDA) have hinted at the imminent handover of the...

    Yeida to Implement New Land Allotment Guidelines Following M3M Dispute

    NOIDA, India — The Yamuna Expressway Industrial Development Authority (Yeida) plans to introduce new guidelines for land allotment,...

    Real Estate Sector Pins Hopes on Modi 3.0: Focus on Infra Development and Affordable Housing

    NEW DELHI — The real estate sector is optimistic that Prime Minister Narendra Modi's third term will bring...

    Suraksha Group to Pay YEIDA in Jaypee Infratech Acquisition

    India (June 11, 2024), a Mumbai-based real estate conglomerate — The Suraksha Group has taken control of debt-laden...