Assetz, one of Bengaluru’s leading real estate developers, has acquired an 11.5-acre land parcel on the Old Madras Road (OMR)/Hoskote Highway in East Bengaluru to develop a luxury residential community. The project, backed by Motilal Oswal Alternates, carries an estimated Gross Development Value (GDV) of over Rs1,400 crore and will span 1.4 million sq. ft. of saleable built-up area, housing approximately 800 units.
Part of the acquisition includes a joint development agreement with Vanshee Builders & Developers Pvt. Ltd. The move strengthens Assetz’s presence in East Bengaluru, where it has already delivered successful projects like Marq, Bloom & Dell, Sun & Sanctum, 66 & Shibui.
Sunil Pareek, Executive Director, Assetz, said: “Strategic land acquisition has always been fundamental to our development approach, laying the groundwork well before execution begins. The association with Motilal Oswal Alternates aligns with our philosophy of partnering with institutions with deep understanding of real estate to back high-quality real estate developments. In the past 2 years alone, we have secured a pipeline of 17 million square feet across 19 projects with the potential to deliver 9,000 homes. With 10 launches this year, we are committed to delivering homes that offer long-term value to our buyers and communities alike.”
Anand Lakhotia, Managing Director & Co-Head (Real Estate), Motilal Oswal Alternates, added: “Having recently announced the final close of our sixth real estate fund, through which we raised INR 2,000 crore, we are well-positioned to support quality land acquisitions. This association reflects our belief in Assetz’s vision of a professional residential platform with established execution capabilities. Their emphasis on good governance, supported by a steady track record, is in line with our strategy of investing in top-performing developers.”
Dympna Reddy, Director, Vanshee Builders & Developers Pvt. Ltd, said: “Looking from the lens of our commercial and hospitality experience, Assetz stood out for their professionalism, design sensibilities and a strong track record, aligning to our values, which made Assetz our natural choice for the transaction.”
The project is expected to offer highway-facing support amenities and cater to the growing demand for upscale housing in East Bengaluru, further fueled by infrastructure growth and connectivity improvements.
