Bengaluru’s real estate market received a major boost on Monday as shares of a prominent developer soared 10 per cent in intra-day trade, driven by news of a fresh joint venture to develop a large residential project in the city’s fast-growing northern corridor.
The developer announced a strategic partnership with KVN Property Holdings LLP to transform a 24.59-acre parcel of land in North Bengaluru, with a projected gross development value (GDV) exceeding ₹3,300 crore.The upcoming development, estimated to yield approximately 3.48 million sq. ft. of saleable space, is expected to be launched within the next six months. With residential demand surging in the region due to its proximity to Kempegowda International Airport and access to key infrastructure projects, the announcement marks a strategic bet on Bengaluru’s expanding urban frontier.This move comes at a time when North Bengaluru is emerging as a preferred destination for sustainable and integrated housing projects, particularly those with access to green infrastructure, employment hubs, and transport corridors.
Real estate analysts note that the project aligns with the broader urban development goals of building eco-conscious, well-connected, and inclusive communities in India’s tech capital.The land parcel earmarked for development is expected to support a mix of housing typologies, catering to a wide demographic spectrum while promoting walkability, accessibility, and environmental stewardship. This approach reflects an evolving market preference for housing that supports low-carbon lifestyles and community-oriented urban living.Alongside the project announcement, the company also initiated a leadership transition, appointing a new chief executive officer for its South India operations, pending regulatory approvals.
The previous CEO has stepped down from the role, marking a shift in operational leadership as the firm doubles down on its regional focus.The stock, which rose to a high of ₹241.55 during the day, remains significantly below its 52-week peak of ₹565 reached in July last year. Despite the recent rally, the scrip has been under pressure for much of the past year, declining 40 per cent year-on-year. However, signs of recovery are visible, with a modest 2 per cent uptick in May following a difficult start to the calendar year.Real estate observers suggest that the North Bengaluru project could serve as a bellwether for the city’s residential market, particularly as infrastructure investments and job creation continue to reshape urban settlement patterns.
With land availability tightening in central zones, large-scale developments in the periphery offer a promising solution for cities seeking to balance growth with sustainability.For Bengaluru, a city long known for its innovation economy, the focus is gradually shifting to how that growth is accommodated. Developments such as this new joint venture—if delivered responsibly—could reinforce the city’s journey toward becoming a more liveable, inclusive, and environmentally conscious metropolis.
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Bengaluru project drives real estate stock surge
