 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
Realty firm Sanjeevini Group on Sunday said it is expecting a revenue of about ₹1,200 crore from its new housing project in Bengaluru.
The company has launched a luxury residential project "The Adwaith", spread over 8.3 acres and comprising 668 units, atGunjur in Bengaluru East.
The total sales potential of this project is ₹1,200 crore, the company said in a statement.
The project will be developed under a joint development model with landowner. The total built-up area is about 17 lakh sq ft. The units are priced upwards of ₹1.7 crore.
Umesh Gowda H A, Chairman and Founder of Sanjeevini Group, said the company has launched a new project at Gunjur, which is a growing micromarket in Bengaluru because of its good connectivity with other parts of the city.
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 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
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 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
The project is expected to be delivered in 30 months.
Sales of residential properties have risen sharply post-Covid pandemic on pent-up demand, growing preference of having home-ownership.
Sanjeevini Group has developed over 15 lakh sq ft of residential, commercial and mixed-use space since it began its operations in Bengaluru in 2010.
The company has in its pipeline over 30 lakh sq ft of upcoming development, including its new project in Gunjur.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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