Realty firm Concorde on Thursday said it has acquired a 1.6-acre land parcel in Bengaluru to develop a housing project with a revenue potential of Rs 200 crore.
"Set to be a premium high rise residential complex, this joint development will have a gross development value (GDV) of Rs 200 crore," the company said in a statement.
The proposed project, located on Sarjapur road, will have a developable area of around 2.25 lakh square feet.
"This acquisition reinforces our commitment to delivering innovative and high-quality living spaces that meet the evolving needs of modern homebuyers in strategic locations," Nesara B S, Chairman at Concorde, said.
To expand business amid strong consumer demand, real estate developers are buying land outright and are also forming partnerships with landowners to develop projects.
Concorde is one of the leading real estate firms in the country.
