Nitesh Estates signs JV for Rs.450 Crore Residential Project
• Project located off the Sarjapur- Marathahalli Outer Ring Road easily accessible to the IT& BFSI micro-market with the highest absorption rate in Bangalore
• Spread over 11 acres, the gated community will have villaments- the emerging and attractive residential segment that offers complete privacy of a villa and with the comfort and convenience of the high-end apartments
• Promises to be a an architectural landmark in the real estate segment
Bangalore, August 10, 2012: Committed to bring the best of international architecture and the classiest style of living, to the city of Bangalore, Nitesh Estates has signed a joint venture for development of villament project Nitesh Palo Alto, off the Sarjapur-Marathahalli Outer Ring Road, Bangalore. The project is located in the heart of the IT corridor in proximity and excellent connectivity to Electronic City, Whitefield, and other leading Tech Parks across Bangalore.
Nitesh Palo Alto revenue is expected to be Rs.450 Crores. The project size, in terms of area is 11 acres, with 70 percent of the land designated to landscaping and open spaces.
Speaking on the signing of the JV for Nitesh Palo Alto project, Mr. Ashwini Kumar, Executive Director and COO, Nitesh Estates said, “Nitesh Palo Alto is located off the Sarjapur-Marathahalli Outer Ring Road, and is a thoroughfare for at least five lakh people on a daily basis, who travel to and through the IT Hub for work. Around three lakh people work in the immediate vicinity of the upcoming development. Our previous launch in this locality has been Nitesh Cape Cod, which has seen overwhelming response, and we expect a similar response for Nitesh Palo Alto too,” revealed Mr. Kumar.