Arvind Smartspaces sells Phase 1 of Arvind Greatlands in 10 hours

29 Nov 2022 , 09:15 AM

Arvind SmartSpaces Limited (ASL), one of India’s leading real estate development companies, announced that it’s 100% wholly owned subsidiary Arvind Homes Pvt. Ltd. has launched and sold the entire first phase of its residential plotting project, Arvind Greatlands, in Devanahalli, Bengaluru, which will be completed on November 26, 2022.

The first phase of this project, which included 400 plots with a total saleable area of 0.57 million square feet and a booking value of more than Rs200 crore, was sold out in 10 hours.

This project marked ASL’s entry into the Bengaluru plotted development segment. HDFC Platform 1 originally acquired 50 acres of the project, in which HDFC invested Rs50 crore. Furthermore, ASL has purchased 18 acres adjacent to this project on an outright basis, with the potential to expand further.

Arvind Greatlands has excellent infrastructure, including RCC roads throughout the development, as well as an executive golf course.

Customers of Arvind Greatlands will also receive a membership to the Monogram Resort – Devenahalli, which has a gymnasium, rooftop infinity pool, indoor games room, table tennis, jogging track, badminton court, spa, library, restaurant, executive business centre, multimedia theatre, discotheque, and yoga pavilion.

Arvind SmartSpaces entered the Bengaluru market in 2013 and has since added 10 projects across the region, with four completed and six in various stages of development/launch.

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