Mumbai:Birla Estates, the real estate arm of Century Textiles and Industries on Friday said it has entered into an agreement with MS Ramaiah Realty to jointly develop a mixed-use project in Bengaluru, having a revenue potential of Rs 3000 crore. Both the companies have entered into an agreement to jointly develop a prime 52-acre land parcel in North Bengaluru with MS Ramaiah Realty with a development potential of 4 million sqft and will comprise both high and low-rise residential developments, along with retail and commercial elements. “The project has a revenue potential of Rs 3000 crore. It will be an integrated mini township project with large green spaces, lifestyle amenities and curated homes,” the company said in a statement issued here. Commenting on the development, KT Jithendran, CEO, Birla Estates said, “Our partnership with M S Ramaiah Realty, to jointly develop a premium integrated township in North Bengaluru, will provide a comprehensive and established ecosystem of high-quality homes.” He further said that Kartanaka’s capital is a focus market for Birla Estates and this is its third project in the city. “It has been a great privilege for MS Ramaiah Realty to partner with renowned brand like Birla Estates for a high-end residential township,” Seetharam, Designated Partner, M S Ramaiah Realty said. UNI PSK GK
