Latest news with #BijayAgarwal
Hindustan Times
10-07-2025
- Business
- Hindustan Times
Sattva Group to develop 30-acre mixed-use project in Vizag with ₹1,500 crore investment
Bengaluru-based real estate developer Sattva Group has announced a ₹1,500 crore investment for its upcoming 30-acre mixed-use project in Visakhapatnam, Andhra Pradesh, the company said in a statement. Bengaluru-based real estate developer Sattva Group has announced a ₹ 1,500 crore investment for its upcoming 30-acre mixed-use project in Visakhapatnam, Andhra Pradesh. (Representational Image)(Unsplash) Named Sattva Vantage Vizag Campus, the development will feature a blend of Grade A office spaces, premium residential units, and integrated urban infrastructure, with a focus on sustainability and smart living. The announcement follows a high-level meeting between Sattva Group and Nara Lokesh, Andhra Pradesh's Minister for Information Technology, Electronics and Communications, on July 8. According to the statement issued by Sattva, the group acknowledged the Minister's leadership and vision to transform Vizag into a premier IT and innovation hub. Read More: Bengaluru bucks national trend as mid-premium housing demand surpasses luxury: Sattva Group MD Bijay Agarwal Once operational, the campus is expected to generate over 25,000 direct employment opportunities, accelerating the socio-economic development of the region. 'We are proud to partner with Andhra Pradesh in shaping the future of Visakhapatnam,' Sattva Group said in a statement. 'This campus will not only offer world-class infrastructure but also support inclusive economic growth and vibrant urban living.' Read More: Bengaluru-based Sattva Group to invest ₹12,000-14,000 crore in three years, mulls IPO for Simpliwork Sattva aims for ₹ 6,000 crore in FY26 sales across Bengaluru, Goa, Hyderabad and Mumbai Overall, Sattva Group plans to clock ₹6,000 crore in home sales for FY26, up from ₹3,500 crore in the previous fiscal, Sattva Group MD Bijay Agarwal previously told The real estate developer plans to launch around 18 million sq ft of residential space by the end of the financial year across key cities including Bengaluru, Hyderabad, and Goa. "Of this, 2.3 million sq ft has already been launched, while more than 11 million sq ft is currently under construction. To date, we have delivered over 31 million sq ft of homes across about 50 residential projects across cities," Agarwal said. "The steady year-on-year growth is being driven by a combination of strong project execution and timely launches in high-demand micro-markets," he said.
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Business Standard
09-07-2025
- Business
- Business Standard
Sattva Group to invest ₹1,500 crore in 30-acre mixed-use project in Vizag
Bengaluru-based realty firm Sattva Group will invest ₹1,500 crore to develop a 30-acre mixed-use project in Vizag, Andhra Pradesh as part of its expansion plan. Sattva Group, which is one of the leading real estate firms in South India, decided to develop this project following a detailed discussion on Tuesday with Nara Lokesh, Minister for Information Technology, Electronics and Communications, in the Andhra Pradesh government. In a statement on Wednesday, Sattva Group said it will develop a 30-acre mixed-use project, 'Sattva Vantage Vizag Campus'. "With a planned investment of ₹1,500 crore, the project will feature a blend of Grade A office spaces, premium residential developments, and integrated urban infrastructure, all designed to global standards of sustainability and smart living," it said. Sattva Group said it intends to contribute to Andhra Pradesh's growth story, and the campus, once operational, is expected to generate over 25,000 direct employment opportunities. It is already developing an integrated township in Andhra Pradesh. Earlier this week, Sattva Group Managing Director Bijay Agarwal said the company would invest about ₹800 crore over the next two years in the Goa property market as it sees huge business opportunities in this coastal city. In the last three decades of its operation, Sattva Group has completed 74 million square feet area across various residential and commercial projects. More than 75 million sq ft area is under various stages of planning and development. Besides South India, Sattva Group has a presence in Pune, Goa and Kolkata markets, and it is planning to enter Mumbai. The Group also has a presence in other verticals of real estate, including co-working, co-living, data centres and warehousing. It is also in hospitality and education. In early March, Sattva Group and Blackstone-sponsored Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with Sebi to launch an Initial Public Offering (IPO) for raising₹ 6,200 crore and list the REIT on stock exchanges. Through this REIT public issue, Sattva Group and Blackstone want to monetise 30 prime office assets across major cities.
Hindustan Times
08-07-2025
- Business
- Hindustan Times
Bengaluru techies on home buying: Purchase a flat to live, not show; think Android, not Rolex
For many young professionals in Bengaluru, buying a home is about more than just affordability; it's also about maintaining flexibility and not getting 'stuck'. On Reddit, several techies discussed the trade-offs between owning a home and staying mobile in a city known for its long commute. For many young Bengaluru techies, buying a home is about more than affordability; it is also about staying flexible in a city with long commutes and job shifts. (Representational Image)(Souptik Datta ) The conversations reflect a growing sentiment among Bengaluru's young workforce, which lives in a fast-moving city where real estate decisions need to be as agile as their careers. One user expressed concerns about getting stuck after buying a home, only to be advised to opt for smaller, more practical apartments over large luxury units. "I am just unable to figure out whether I should buy a flat or not. I am an NRI and moved to Bangalore 2 years ago. Previously, I rented an apartment closer to my workplace, I changed my company which is 7-8 km from my apartment now," one of the Redditors wrote. Also Read: Bengaluru real estate: Millennials fuel demand for ₹1–2 crore homes in the tech capital "So I shifted closer to my new office. I am thinking of buying an apartment but if I change again, I will be stuck. How are people buying apartments in Bangalore? It becomes a liability more than an asset," he said. He emphasised function over prestige and ease of resale or rental if life circumstances change. 'Buy an apartment like you'd buy an Android phone, not a Rolex.' 'If you switch jobs, rent out your apartment and move closer to work.' Another suggested a more strategic approach, buying two 2BHKs instead of a single 4BHK. Smaller units, they argued, are easier to rent or sell. 'When you're done with the city or your job, just rent it out or sell it. Don't wait for the perfect price,' the user wrote. Also Read: Bengaluru bucks national trend as mid-premium housing demand surpasses luxury: Sattva Group MD Bijay Agarwal Buy a ready-to-move-in flat near your workplace and opt for movable furniture to make relocation easier Several Redditors shared their experiences of navigating job changes after buying a home. One user said they purchased a 3BHK, later switched jobs, and found the commute too long. Instead of selling, they rented out the flat and moved closer to work, earning an extra ₹20,000 from the rent difference. 'Sometimes you have to make tough decisions for better work-life balance,' the user wrote. Another Redditor recommended a practical strategy: buy ready-to-move-in flats within a 13-kilometre radius of the IT corridor and use movable furniture to simplify relocation. 'If you change jobs again, just rent out your apartment and move closer to work. It's that simple,' he advised.
Hindustan Times
08-07-2025
- Business
- Hindustan Times
Bengaluru bucks national trend as mid-premium housing demand surpasses luxury: Sattva Group MD Bijay Agarwal
Bengaluru's real estate market is defying the national shift toward luxury housing, with growing demand focused on the mid-premium segment. According to Sattva Group Managing Director Bijay Agarwal, homebuyers are showing strong interest in properties priced between ₹1 crore and ₹4 crore, indicating a clear preference for practical, premium mid-segment homes over ultra-luxury offerings. Sattva Group MD Bijay Agarwal says demand is rising for ₹ 1–4 crore homes, signaling a shift toward premium mid-segment over ultra-luxury housing (File Photo ) To meet this rising demand, the company plans to launch 9 million sq ft of mid-premium housing and select luxury projects in key growth corridors such as Mysuru Road and Old Madras Road. "The real estate sector in the city is largely a consumer-driven market, not dominated by investors. So most of the demand we see isn't speculative. NRIs are coming in a big way, especially to Bengaluru and Hyderabad. For most NRIs, Bengaluru is the first choice; it's a startup hub, a tech capital, and a truly cosmopolitan city. Here, luxury housing demand remains limited, largely due to low supply in that segment. What we consistently see is strong demand in the mid and upper-mid segments,' he said. Agarwal pointed out that property prices in the city have surged by 40–60% over the past two years, but a more moderate 20% increase this year suggests a stabilising market. 'In Bengaluru, over the last 2-3 years, property prices have gone up by 40–60%. This year, the increase is around 20-25%, and the growth rate has begun to stabilise with a gradual increase in prices. We're seeing a slight deceleration in the rate of price growth this year, and the market is maturing, which is actually a healthy sign,' Agarwal said. In Bengaluru, the company plans to develop premium to luxury residential projects, sprawling 9 million sq ft, with ticket sizes between 1-4 crore in western parts of the city, like Mysuru Road and Old Madras Road, in the west and eastern parts of the city. Sattva Group has already launched a residential project near Kempegowda International Airport and another large-scale development in North Bengaluru spanning 5.9 million sq ft and comprising 3,900 flats. "We are also preparing to launch an additional project in the airport corridor. Further expansions are planned across key growth zones, including a 1 million sq ft development on Mysuru Road towards the western part of the city and a 1.2 million sq ft project on Old Madras Road in the east, scheduled to launch between June and September this year," he said. Also Read: Bengaluru-based Sattva Group to invest ₹12,000-14,000 crore in three years, mulls IPO for Simpliwork Sattva aims for ₹ 6,000 crore in FY26 sales across Bengaluru, Goa, Hyderabad and Mumbai Overall, Sattva Group plans to clock ₹6,000 crore in home sales for FY26, up from ₹3,500 crore in the previous fiscal, Agarwal told The real estate developer plans to launch around 18 million sq ft of residential space by the end of the financial year across key cities including Bengaluru, Hyderabad, and Goa. "Of this, 2.3 million sq ft has already been launched, while more than 11 million sq ft is currently under construction. To date, we have delivered over 31 million sq ft of homes across about 50 residential projects across cities," Agarwal said. "The steady year-on-year growth is being driven by a combination of strong project execution and timely launches in high-demand micro-markets," he said. Also Read: Sattva Group, Blackstone sponsored REIT raises ₹1,400 cr in pre-IPO round Mumbai and Hyderabad in focus This year, Sattva Group expanded its footprint into Mumbai and is set to launch a project in the first quarter of the next financial year in south Mumbai, with land acquisition already completed. This upcoming development will cater to the luxury segment, with homes priced between ₹4 crore and ₹8 crore. Hyderabad will see 5–6 million sq ft of luxury and ultra-luxury launches later this year. According to Agarwal, the company is targeting prime micro-markets like Kokapet and HITEC City, driven by robust infrastructure, a thriving IT ecosystem, and strong demand from both NRIs and domestic buyers. These factors, he noted, make the region an attractive destination for high-end residential investment. "Homes in Hyderabad will be priced between ₹3 crore and ₹10 crore, surpassing Bengaluru's range of ₹1 crore to ₹4 crore," he said. In Goa, a market that Agarwal considers a niche but a promising luxury destination, the company is following up on its recently launched phase 2 of the villa project with two more projects in the pipeline, one plotted development and an apartment project. These new projects are expected to launch within the next 6-8 months.
The Print
06-07-2025
- Business
- The Print
Sattva Group to invest Rs 800 cr in Goa property market to expand business
It has already developed the first phase of its maiden housing project 'Sattva Water's Edge' and recently launched the second phase comprising villas and apartments. Bengaluru-based Sattva Group, which is one of the leading real estate firms in South India, entered Goa market few years back. New Delhi, Jul 6 (PTI) Realty firm Sattva Group will invest about Rs 800 crore over the next two years in Goa property market as it sees huge business opportunities in this coastal city, a top company official said. Sattva Group is planning two more projects in Goa, including a gated community where it will offer residential plots. 'We will invest around Rs 800 crore over the next two years in Goa,' Sattva Group Managing Director Bijay Agarwal told PTI. Sattva Group is expanding its presence in Goa property market to tap rising demand because of its improved infrastructure and better connectivity with other cities of India. Bullish on the potential of Goa market, Agarwal noted that there is a huge demand for first as well as second homes in this popular tourist destination. There is a huge interest of NRIs in the Goa market, he added. In the second phase of Sattva Water's Edge project which is located near Dabolim airport, the company will develop 10 signature villas and 24 boutique apartments. According to PropEquity data, housing sales in Goa rose 5 per cent to 3,585 units in 2024 as compared to 3,430 units in the same period last year. Sales in value terms rose 32 per cent annually to Rs 5,726 crore in 2024 calendar year, the PropEquity data showed. In the last three decades of its operation, Sattva Group has completed 74 million sq ft area across various residential and commercial projects. More than 75 million sq ft area is under various stages of planning and development. Besides South India, Sattva Group has a presence in Pune and Kolkata markets and it is planning to enter Mumbai. The Group also has presence in other verticals of real estate including coworking, coliving, data centres and warehousing. Sattva Group is also into hospitality and education. In early March, Sattva Group and Blackstone sponsored Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch an Initial Public Offering (IPO) for raising Rs 6,200 crore and list the REIT on stock exchanges. Through this REIT public issue, Sattva Group and Blackstone want to monetise 30 prime office assets across major cities. PTI MJH HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
