BENGALURU — In a significant development, Tata Realty and Infrastructure Ltd (TRIL), the real estate development arm of the esteemed Tata Group, has successfully secured a substantial 25.3-acre land parcel in Bengaluru. The acquisition, valued at a staggering INR 986 crore, was formalized through a regulatory filing on August 8, as reported by Money Control. This strategic move reinforces Tata Realty’s commitment to expanding its footprint in the dynamic real estate landscape.
The land parcel is strategically situated in Doddanekundi Village, adjacent to KR Puram Hobli in northeastern Bengaluru. This prime location places it in proximity to the bustling IT corridor of Whitefield, rendering it an appealing prospect in the realm of real estate. Notably, the seller of the property is Graphite India Ltd. The transaction was executed through wholly owned subsidiaries of TRIL, namely TRIL Bengaluru Real Estate Five Ltd and TRIL Bengaluru Real Estate Six Ltd.
Experts within the real estate domain highlight the significance of Doddanekundi Village, emphasizing its position as a prime locale in the northeastern precincts of Bengaluru. This area is in close proximity to the IT hub of Whitefield, and land valuations in the vicinity hover around the range of INR 25-30 crore per acre.
Tata Realty has officially confirmed this strategic acquisition to Moneycontrol. It is pertinent to note that while the regulatory filing has been completed, the finalization of the sale deed and associated documentation is still pending.
Venturing Forward
Looking ahead, Tata Realty has charted an ambitious trajectory. The company’s plans encompass the launch of a substantial 5 million square feet of office space within Bengaluru. This includes the establishment of two IT parks, with a resounding investment commitment of INR 4,000 crore slated for realization by the close of this year. Bengaluru, known for its technological prowess, will witness the inception of at least two IT parks as part of Tata Realty’s vision. These ventures will be sprawled across a sprawling expanse of 30 acres, strategically spanning the northern precincts of the city, such as Hebbal, and the thriving eastern IT corridor of Whitefield.
This strategic move by Tata Realty underscores the company’s resolute pursuit of growth and its alignment with the promising avenues presented by Bengaluru’s real estate landscape.