Savills facilitates over two-acre land deal for Inspira Builders

International property consultant Savills India has facilitated over two acres of prime land deal with necessary approvals for Bengaluru based real estate developer Inspira Builders.

The deal, said a press release, is to develop a residential township spanning over 2 lakh Sq. Ft. with an estimated valuation of Rs. 150 crore. The land was to be developed by Sycon Construction earlier, and has now been taken over by Inspira Builders to build a premium residential project, said the release.

The prime land is located in Electronic City which houses major IT companies such as Infosys, Wipro, TCS, etc. and has a well-developed infrastructure and connectivity. The upcoming Metro will boost the demand for residential housing in this micro-market, added the release.

Aravind M S, Founder and MD, Inspira Builders, said, “Electronic City has witnessed exponential growth over the years. This land acquisition and development of the project will be instrumental in increasing our geographic as well as brand presence in the residential segment of Bengaluru. Savills India ensured that we get a strategic land parcel and also eased the entire process for us with a great turnaround”.

Rajan Kumar Mishra, Senior Director, Land Advisory & Transactions, Savills India, said, “The much awaited Metro line connecting Electronic city to other important locations in Bengaluru and the ongoing Work from Home policy have contributed to the rise in demand for residential projects in this micro-market. In the coming months, we anticipate more such residential projects gaining traction given the connectivity and infrastructure around Electronic city”.