Tata Realty acquires 25.3 acres of Prime Bengaluru Land for Rs 9.86 bn

According to a legal application on August 8, Tata Realty and Infrastructure (TRIL), the real estate development arm of the Tata Group, has acquired a 25.3 hectare plot in Bengaluru for an amount of Rs 9.86 billion. The seller in this transaction is Graphite India. The acquisition was carried out through two wholly owned subsidiaries of TRIL, TRIL Bengaluru Real Estate Five and TRIL Bengaluru Real Estate Six.

Located in Doddanekundi Village adjacent to KR Puram Hobli in the northeastern part of Bengaluru, the land area is highly regarded by real estate experts due to its proximity to Whitefield's IT center. The prevailing land values in this area range between Rs 250 million and Rs 300 million per hectare.

Tata Realty has ambitious plans in the pipeline. It plans to introduce a total of 5 million square meters of office space in Bengaluru, including two IT parks. These upcoming ventures require an investment of Rs 40 billion and are expected to be launched by the end of this year.

The upcoming plans for Tata Realty include the launch of at least two IT parks focused on office spaces in Bengaluru. These projects will cover about 30 acres, spread across the northern region of the city, such as Hebbal, and the eastern IT corridor around Whitefield.