Concorde, a Bengaluru-based real estate developer, has acquired a significant land parcel in Electronic City for a premium residential project with an estimated Gross Development Value (GDV) of around ₹600 crore.
The transaction includes an outright purchase of around two acres and one acre through a Joint Development Agreement (JDA).
The acquisition of the remaining one acre has been completed in principle, with documentation expected to be completed in the next few days.
Project to span 5.25 lakh sq. ft.
The proposed project is expected to have approximately 5.25 lakh sq. ft. of built-up area and will comprise premium 2 and 3 BHK apartments.
Concorde will invest approximately ₹56 crore towards the land cost. The residential development will also feature a range of amenities and lifestyle facilities.
Electronic City remains key market
Concorde, Managing Director, Anil RG, said the company’s growth strategy has been centred on identifying high-growth-potential micro-markets with strong fundamentals and sustained demand.
“Electronic City is one such market, and this land parcel fits well with our approach. Its location, scale and development potential make it particularly suited to Concorde’s philosophy of creating well-planned, quality homes in strategically chosen locations,” he said.
Focus on quality and customer experience
The company said the project will build on its focus on design, construction quality and customer experience across its Bengaluru developments.
“We will bring the same focus on design, construction quality and customer experience that has shaped our developments across Bengaluru to this project,” he said.
Strong presence in Electronic City
Concorde’s first project was in Electronic City, where it has since developed more than 4 million sq. ft. across over 10 apartment and villa projects.
The latest acquisition strengthens the developer’s presence in the micro-market and expands its residential development pipeline in one of Bengaluru’s established growth corridors.