Nitesh Estates signs up Rs300-crore project
Nitesh Estates has announced its Rs300 crore mid-income housing project, British Columbia in south Bangalore.
The project, coming up at Kanakapura Road in southern Bangalore, will house 500 apartments ranging from a large 900 sq. ft up to 1800 sq. ft. The configuration of apartments will be 2 BHK and 3 BHK. The apartment prices would between Rs35 lakh to Rs80 lakh, depending on the unit size.
The Nitesh Shetty-prompted company presently has 15 residential projects at various stages of construction, with a developable area of 11.82 million sq. ft and plans for future development of approximately 5.3 million sq.ft area for residential and commercial development in near future.
Ashwini Kumar, executive director and chief operating officer, Nitesh Estates said, “We have seen brisk take up of our middle income projects. We see this continuing in near future given the now established preference of the market for residential projects like British Columbia as these are not only accessible to their workplace, but also offers better connectivity and excellent features and amenities.”
The total project revenue potential will be around Rs300 crore, which will improve significantly the financials of the company. Nitesh Estates mostly execute projects through the joint development mode.