BackYash Birla Group ventures into realty with Nayandahalli project
Birla Homes' first project is at Nayandahalli in Bengaluru, to be delivered next year
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Bengaluru: Birla Financial Services Pvt. Ltd, a subsidiary of the Yash Birla Group, has ventured into real estate with Birla Homes. Its first project is at Nayandahalli, on the Mysore Road.
The business model the company has chosen to adopt will see it take up a project as a financial partner and collaborate with a local developer for its execution.
In the Mysore Road project, Birla Homes has tied up with Bengaluru-based Apple Spire Pvt. Ltd in the latter’s under-construction project, which will now be branded Birla Apple Spire. The project will be delivered next year.
“We have a pipeline of projects in Bengaluru that we will develop with various partners through brand alliances. What will set us apart is that we will launch a project only when all approvals are in place," said Manoj Singh, managing director, Birla Homes.
For the other projects, Birla Homes plans to enter at an early stage where it identifies the right land parcel, is involved in the approval process and works closely with the developer.
After the Mysore Road project, where a three-bedroom flat costs upward of ₹ 1 crore, the firm plans to launch row houses, farm villas and apartments in various micro-markets of the city.
“Bengaluru is a stable real estate market, which even during a slowdown performed well," Singh said. “However, we will also look at project opportunities in Kochi, Mumbai and other cities too," he added.
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