Sobha forays into affordable housing segment

Creates new brand name 'Sobha Dream Series' to launch a project spread over 81 acres at Bengaluru

Bengaluru-based property developer Sobha Ltd has created a new segment – Sobha Dream Series – to mark its foray into affordable housing segment. The company has launched Sobha Dream Acres, the first project under the new segment. Sobha will be selling apartment units ranging from 650 square feet to 1,200 square feet at a price of Rs 5,000 per square feet.

The project is located at Balagere on the outskirts of Bengaluru and closer to the city’s IT corridor at Whitefield. With a total developable area of 10.26 million square feet, ‘Sobha Dream Acres’ is spread on a total land area of 81 acres. It will comprise of 1 BHK and 2 BHK units. In the first phase, it will develop 2 million square feet and a total of 7,000 units in phases. The project will have 80 per cent green space for sports and recreational facilities as also natural lighting and ventilation, Ravi Menon, Chairman.

“We have been planning for this project for the past one and a half years and have drawn inspiration from Finland and Singapore developers. We will use precast technology and German machinery to build houses in lesser time. The execution of the project will be in-house as always, aligned with our ‘never compromise’ philosophy,” Menon said.

J C Sharma, Vice Chairman and Managing Director, Sobha Limited said, the project will be developed in 5 phases. The ‘Sobha Precast’ plant erected at the project site is probably one of the largest and most modern set up catering to the large scale construction, he said.

‘Sobha Dream Acres’ is located in the midst of the four major arterial roads in the city – the Outer Ring Road (ORR), Marathahalli road, Varthur road and Sarjapur road – aptly termed the ‘Golden Quadrilateral’.

“A unique feature of this project that makes it different from our other projects is the use of Precast technology. The ‘Sobha Precast’ plant will allow modular structures to be built and assembled with ease, by means of mechanisation and thus help reduce delivery timelines,” Sharma added.