JANUARY 26 , 2016

REPUBLIC DAYCONNECTKT

IndIa’s dIversIty and resIlIence are Its bIggest strengths

Nationonthemove

JANUARY 26, 2016 www.khaleejtimes.com

iNDiA REPUBL iC DAySpecial report

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| real eState

INDIA’s hi-tech capital, Ben-galuru, continues to grow at anamazing pace even as the infor-mation technology sector,whichfuels demand for commercial

and residential space, expands at abuoyant rate.

While areas such as Electron-ics City and Whitefield have excesssupply at present, newer areas in thenorth, especially Hebbal, have hugepotential to grow, says a leading realestate developer.

Arjun Aggarwal, Managing Direc-tor, Bhartiya City, points out that lo-calities in the north — on the way tothe international airport — are thenewdemand drivers in Bengaluru.

“The city’s infrastructure is im-proving gradually,” explains Aggar-wal. “TheKarnatakagovernmenthasnow appointed a Bengaluru develop-ment minister.” The government isalso taking up the Peripheral Ringroadproject,which could get fundingfrom the Japan International Coop-eration Agency.

According to Aggarwal, there hasbeen a lull in the Bengaluru real es-tate market over the past six months

erties across asset classes includingresidential, commercial, an IT SEZ,hotels, a convention centre and otherfacilities,” he explains.

Retail facilities would includesouks, high-street retail outlets andshopping malls. A seven-acre centralparkwill also behome for a centre forperforming arts.

Bhartiya City will include built-upspace of nearly 20million square feetto be executed over the next sevenyears.Currently, about 2,500housingunits are getting ready. Also, the firstbuilding is readyand in theprocess ofbeing occupied.

Aggarwal says the company,whichalso has a representative office inDubai, has drawn interested NRI

Developers Bhartiya City specialises inproperties across various asset classesincluding residential, commercial, an ITSEZ, hotels, etc.

Bengaluru sees demanddespite the lull

and some developers had come outwith schemes to attract buyers.

But Bhartiya City has been do-ing well, even exceeding its targets,he adds. Occupying a sprawling 134acres, Bhartiya City is located nearHebbal. “We are developing prop-

buyers from the Gulf, North Americaand Europe. Bhartiya City is the larg-est self-contained citywithin the lim-its of themunicipal corporation.

Bhartiya City launched Nikoohomes in November 2012, which be-came the fastest selling residentialhomes brand inBengaluru. The com-pany has now launchedNikoo homesII, offeringunitspricedbetweenRs3.3million andRs13million.

The company has also launchedThe Leela Residences at BhartiyaCity. The 172-room property willcomplement the 256-room luxuryhotel being developed beside it. Resi-

arjun aggarwal, ManagingDirector, Bhartiya city

Bhartiya city will include built-up space of 20million square feet.

Bhartiya city will comprise around 2,500 housing units andwill be surrounded by amenities. the first building is ready and in the process of being occupied.

dents of the private apartments willhaveaccess to all services at theLeelaHotel and enjoy breathtaking viewsof the central park.

Bhartiya is a diversified lifestylegroup founded in 1987. It consists oftwo verticals: Bhartiya Fashion (in-ternational manufacturing of leatherproducts and fur and a leather SEZ,which is a listed company) andBhartiya Urban (city development),which is developing Bhartiya City.

The company won the MIPIMAsia award in the best ‘futura megaproject’ category (Asia-Pacific re-gion) in 2013.Discovery centre.

the seven-acre central parkwill be a hub for performing arts.

Bhartiya City