Bengaluru, India, 28 June 2024: Concorde, a leading Bengaluru-based real estate developer has acquired a prime 1.6-acre land parcel located on Sarjapur Road, Bengaluru. Set to be a premium residential complex, this joint development will have a gross development value (GDV) of ₹200 crores. The strategic acquisition was facilitated by well-known real estate consulting firm, Colliers India, and marks a significant milestone for Concorde as it continues to expand its footprint in the city.

The Colliers team was instrumental in conducting a market analysis that assisted in identifying a suitable space that aligned with Concorde’s business objectives and vision. The leading real estate consulting firm held strategic rounds of negotiation with all parties involved to arrive at a deal structure that served the best interests of the landowner and developer.

The proposed project will comprise 2 & 3 BKH units, spread over a high-rise tower of ~2.25 lakh sq.ft. Its strategic location on the Sarjapur main road ensures excellent connectivity and convenience for residents. The upcoming project will feature smart and tech-enabled elements for enhanced security and energy conservation through home automation. Additionally, it will include an Evolve signature clubhouse with world-class amenities, adhering to Concorde’s SMART philosophy.

Commenting on the initiative, Nesara B S, Chairman, Concorde said, “We are thrilled to bring another landmark development to Sarjapur Road. This acquisition reinforces our commitment to delivering innovative and high-quality living spaces that meet the evolving needs of modern homebuyers in strategic locations. With the support of Colliers India, we were able to structure a deal that benefits both the landowners and our development goals.”

“Concorde is building homes of the future with projects that boast modern architecture and tech-infused features, and our team is proud to have facilitated this transaction. By formulating the correct structure, we were able to meet the business requirements of the developer and landlord. With our strong industry relations and long-standing ability to deliver bespoke solutions, we consistently drive success for our clients and the overall real estate sector.” added Piyush Gupta, Managing Director, Capital Markets & Investment Services, Colliers India.

Sarjapur Road boasts excellent connectivity to key IT hubs such as Whitefield, Electronic City, Outer Ring Road, Marathahalli, and Koramangala. The area’s infrastructure is set to improve further with the completion of Namma Metro’s phases two and five, and the proposed 74km Peripheral Road. This region has experienced the highest growth in connectivity, making it an ideal location for residential and commercial development.

By Sujata