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K Raheja Corp sees revenue of ₹1,700 crore from luxe project in Bengaluru

K Raheja Corp Homes, the residential vertical of developer K Raheja Corp group, has taken its luxury brand ‘Vivarea’ to Bengaluru with a project in Koramangala with a revenue potential of ₹1,700 crore.

Built on a 8.25-acre land parcel owned by group company Chalet Hotels, the luxury project has nine towers and 300 apartments.

The apartments are fairly large going up to around 3500-4000 square feet and configurations ranging from 3 to 5 bedrooms and a price ticket of over ₹6 crore. The average rate is around ₹26,000-27,000 per sq ft.

“The Koramangala market with limited greenfield land prospects, make this project highly aspirational,” said Ramesh Ranganathan, the chief executive officer of K Raheja Homes.

Source: businessline