MAIA Estates plans ₹3,000 crore investment to scale up its real estate presence in Bengaluru
Bengaluru-based real estate developer MAIA Estates plans to launch over 4 million sq ft of new housing and commercial projects this financial year, backed by an investment of ₹ 3,000 crore, founder and CEO of the company, Mayank Ruia told HT.com. Bengaluru-based real estate developer MAIA Estates plans to launch over 4 million sq ft of new housing and commercial projects this financial year, backed by an investment of ₹ 3,000 crore, founder and CEO of the company, Mayank Ruia told HT.com .
With this expansion, the company's total development footprint in Bengaluru is expected to exceed 2.5 million sq ft by year-end.
"The upcoming projects will span across a wide price range, starting from ₹ 2 crore and going up to ₹ 12 crore, with high-end residences priced above ₹ 15,000 per sq ft," Ruia said. Housing projects pipeline
Among the developer's recent highlights is the completion of its flagship residential asset, 27 Summit, delivered in 3.5 years. Positioned in the super-luxury segment, homes in the project are priced between ₹ 21 crore and ₹ 27 crore, with rates starting at ₹ 47,000 per sq. ft.
Currently, MAIA has 6 to 8 residential projects at various stages, from planning to sales and construction. The company expects to launch 1.5–2 million sq. ft. of new space in FY2026, targeting a cumulative footprint of 2–2.5 million sq. ft. in Bengaluru alone by year-end.
"Ticket sizes for its homes range between ₹ 2 crore and ₹ 12 crore, with select properties priced upwards of ₹ 12,000 per sq ft," Ruia said.
Nearly 50–60% of MAIA's residential inventory lies in North Bengaluru, where prices vary from ₹ 2.5 crore to ₹ 12 crore.
MAIA's developments are concentrated within Bengaluru's inner ring and fast-developing zones in the north. "While prime city-centre areas like Richmond Road and Basavanagudi are earmarked for ultra-luxury residential projects, eastern Bengaluru remains a cautious choice for the brand," he said.
Beyond Bengaluru, MAIA made its debut in Chennai in late 2024 with an ultra-luxury residential project comprising eight exclusive homes priced around ₹ 20 crore each. The project is nearly sold out, and additional launches are planned in the city.
"The company's development plans are projected to require around ₹ 3,000 crore in capital. Funding will be structured with a one-third split across equity, construction finance, and customer sales," Ruia said.
Also Read: Bengaluru's priciest real estate deal: Luxury penthouse in Central Business District sells for more than ₹ 54 crore Foray into commercial real estate
MAIA has already raised over ₹ 1,000 crore from CapitaLand for its commercial venture and secured over ₹ 300 crores in the past for residential development through internal accruals and partners
It entered the commercial real estate market in February 2025 through a marquee transaction with global real estate player CapitaLand.
'The move complements MAIA's traditionally residential-centric portfolio and is expected to significantly boost its long-term asset base. Plans are underway to triple the company's office footprint over the next 3–4 years, with key focus areas including Bengaluru's Central Business District (CBD), Hebbal, and the Outer Ring Road (ORR),' he said.
MAIA currently has 1.5 million sq. ft. of commercial space under development, with future growth pegged to the availability of high-potential land parcels. All ongoing office projects are standalone, and future developments are expected to follow an opportunity-led strategy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Showroom owners duped of Rs48L in bid to by scrap copper
Pune: An automobile showroom owner (30) from Satara Road filed a complaint with the Parvati police, stating that online fraudsters duped him of Rs 47.72 lakh between April and May by promising to sell him scrap copper. The victim is a resident of Satara Road. He stated that his partner wanted to buy large quantities of scrap copper. He conducted an online search for companies selling scrapped copper. An officer of the Parvati police said, "The complainant and his partner stumbled upon a link to a South Africa-based company. They contacted the company via email and put forth their requirement for the scrapped copper." You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "The company officials responded to the mail, claiming that the company could fulfil the requirement," police said. According to the police, the company demanded a 30% advance amount from the victim. The company stated that the remaining 70% would be taken post-delivery. "The complainant and his partner liked the idea and decided to go ahead with the deal," police said. "The victims took the banking details of the company and transferred 30% amount—Rs 47.72 lakh—as an advance payment," police said. "After the payment, the material did not reach Pune or Mumbai. The suspects kept promising the delivery. The complainant and his partner then decided to investigate the company's background. They visited several business sites in South Africa and realised that no such company existed. They realised it was a fake company," police said.
Time of India
an hour ago
- Time of India
2 held for 41L online share trading scam
Mumbai: The cyber police arrested two individuals in connection with a sophisticated online share trading scam linked to operatives based in Dubai that defrauded a Mumbai-based marketing professional of over Rs 41 lakh. Interestingly, the fraudsters even deposited Rs 1.18 lakh as profits to build trust. The two arrested accused have been identified as Ganesh Sarode (46), a resident of Kalyan, and Satish Baban Kotalwar (39) from Wagle Estate, Thane. Police said that Sarode opened the Swami Samarth Enterprises bank account and handed over the account welcome kit to Kotalwar in exchange for Rs 20,000 in cash. Kotalwar then forwarded the banking details to a suspected mastermind named Rana, currently residing in Dubai, through WhatsApp. — S Ahmed Ali You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai
Time of India
2 hours ago
- Time of India
Waste corp seeks new green nod for Verna plant
Panaji: After failing to get an environmental clearance (EC) to set up an integrated solid waste management and waste-to-energy plant at Verna for two years, the Goa Waste Management Corporation (GWMC) decided to speed up the process and file a fresh application before the state environment impact assessment authority (SEIAA). This plant would be the fourth plant in the state. There were some technical issues which led to the delay in the EC, but it has now been decided to clear all the queries and approach the authority for a fresh EC, a senior official said. The GWMC said that a waste-to-energy plant will be set up at Verna at an estimated cost of Rs 500 crore and will generate 16MW electricity and 38MW heat while processing 250 tonnes of waste per day (TPD). The project is the first of its kind in Goa, and since the non-biodegradable waste is continuously generated, the project will sustain itself, a senior govt official said. The electricity department will procure the power, and the steam generated at the plant will be supplied to industries to be utilised in manufacturing processes, the officer said. 'The objective of the plant is to generate electricity and steam from the non-biodegradable waste by adopting environment-friendly processes, and the outcome of the project includes long-term management of non-biodegradable waste without harming the environment,' the officer said. The non-biodegradable waste is stored in sheds in the panchayat jurisdiction, where the recyclable fraction of non-biodegradable waste is recovered and sent for recycling. The non-recyclable waste is stored in the shed and is collected by the GWMC. The corporation then bales this non-recyclable waste and sends it to various cement plants in Karnataka to be used as a fuel alternative in kilns, thus making it refuse derived fuels (RDF). 'The cost of transportation of such RDF is almost Rs 1,000 per tonne. The state is fully dependent on the Karnataka-based cement plants for the disposal of RDF,' the senior official said. He said that if there is a direction in the near future by the Karnataka state pollution control board for the stoppage of transportation of interstate waste, it will lead to the accumulation of RDF in water bodies and thereby affect aquatic life and also the flora and fauna. 'So, in order to have our own facility in Goa, it is proposed to establish a 250 TPD waste-to-energy plant,' he said. The plant at Verna will cater to the waste generated in Mormugao taluka and some parts of Salcete taluka. The plant will be set up on an area of 1 lakh sqm, and the environment impact study for the plant has already been done.
