Prestige ties up with Disney for branded homes
Dec 30, 2013
Source : The Times of India
BANGALORE: Southern real estate major Prestiqe Estates Projects is collaborating with Disney India to develop its largest residential township project spanning 102 acres in Bangalore's IT hub of Whitefield.

The 8 million-sqft development will feature Disney-inspired residences consisting of 3,400 apartments and over 200 villa units. The project will be officially launched next fiscal year.

Disney licenses the rights of its iconic characters, and allows developers to create various exterior and interior Disney theme palettes, as well as buy in to Disney home decor products and furnishings, including fixtures , kitchenware, furniture, beddings, rugs, tableware, fans, wall coverings, ceiling paints, and bath accessories.

In the past two years developers such as Sunteck Realty of Mumbai, Akshaya of Chennai, and Supertech of Noida have partnered with Disney India to create themed residences in a bid to differentiate products in a highly evolving and competitive real estate market.

"This is the largest development by the company till date, in terms of acreage and the total number of residences ," said Irfan Razack, CMD, Prestige Estates Projects. Expected to generate a turnover in excess of Rs 5,000 crore, the project is a joint development between the Prestige Group and Prakash Shetty of MRG Group, owners and operators of the Goldfinch brand of boutique hotels.

Razack added that Prestige holds exclusive rights for developing Disney's themed residences in Bangalore, Hyderabad and Kochi.

Bangalore's top developers are increasingly focusing on mega residential townships in upcoming suburbs of the city, tracking the fast growth of commercial office spaces in these areas . Recently TOI reported that global investor Xander and Bangalore-headquartered Mantri Developers struck an equal joint venture to build the city's largest residential township of 13 million sqft, located in the northern suburb of Hebbal.

While some of the planned townships in Bangalore consist only of residential units, others sport a mix of residential, commercial office and IT SEZ spaces, schools, hotels, retail, and hospitals. Some of the big townships under development include Sobha City, on Thanisandra Main Road, Brigade Orchards in Devanahalli , Divyasree's 77 East off Old Airport Road, Bhartiya City on Thanisandra Main Road, Provident Welworth City on the Yelahanka-Doddaballapur Road, Patel Neotown in Electronics City, and Karle Town Centre near Hebbal.

Prestige, which had given Bangalore one of its first mixed-use gated township, Shantiniketan, in Whitefield , is launching another mega township Falcon City, on Kanakapura Road.



Latest Realty News

High-end homes gain prominence in East Bangalore
Dec 28, 2013
BANGALORE: In the mid-1990s when the road to far-off Whitefield was upgraded, it was rumoured that a delegation visiting the site that ITPL was to come up on had agreed to put up the tech park in the location only if the road infrastructure was upgraded to reduce travel time from the Vidhana Soudha to ITPL, to 10 minutes. From then on, there has been a focus to upgrade civic infrastructure in the east – the widening of several key roads, the completion of the Outer Ring Road (ORR) and ongoing wo
Green tribunal asks industries in TG Halli zone to pack up
Dec 26, 2013
BANGALORE: The National Green Tribunal (NGT), Southern Zone, Chennai, has asked over a dozen industrial units to move out machinery and materials from Zone-3 of Thippagondanahalli reservoir catchment area (TGR) within three months. This eco-sensitive zone has a number of granite units.
Bangalore corners 42% of Rs 4,716 crore realty funding
Dec 24, 2013
BANGALORE: The country’s IT capital has attracted the lion’s share of private equity (PE) investments in the real estate sector, approximately 42% of Rs 4,716 crore (roughly $755 million) of the investment that has flowed in between January and September this year.
Office space absorption in Bangalore lower in 2013
Dec 22, 2013
BANGALORE: Bangalore witnessed a large drop in office space absorption of 39 per cent in 2013 as compared with last year. The city office space absorption this year is around 45.76 lakh square feet as against 75.17 lakh square feet last year.
BDA: 146 unauthorized layouts have sprung up at TG Halli
Dec 21, 2013
BANGALORE: The BDA on December 17 informed the Karnataka high court that 146 unauthorized layouts have come up in 23 villages in Tippagondanahalli reservoir zone – III area, 1km on either side of the Arkavathy river.
Panel to monitor action on TG Halli encroachments in Bangalore
Dec 21, 2013
BANGALORE: The Karnataka high court on December 18 constituted a seven-member special committee headed by V Umesh, additional chief secretary, to monitor action on encroachments in Zone-III of Tippagondanahalli reservoir (TGR) catchment area.
Mid-range and budget homes market expands in Bangalore North
Dec 21, 2013
BANGALORE: In the early 2000s, Bangalore north beyond Anandnagar was still largely unexplored. Vast tracts of barren land laden with trees lined the highway leading towards Andhra Pradesh, and the only known landmark in the area was the Devanahalli fort. The relocation of the airport brought the north into focus and over the last five years, residential property development has taken off, with a host of housing options coming up in this region.
India Property raises Rs 74.67 crore in second round of funding
Dec 20, 2013
BANGALORE: Online real estate classified portal India Property Online Pvt Ltd raised $12 million (Rs 74.67 crore) in a second round of funding led by Bertelsmann India Investment along with existing investors Canaan Partners and Mayfield Fund.
Bangalore IT investment region plan hit by rising land price
Dec 20, 2013
BANGALORE: Karnataka's plan to build a new information technology hub close to the new international airport on the outskirts of Bangalore is yet to take off, with slow pace of land acquisition exacerbated by rising land costs.
‘Some steps to revive the market’
Dec 16, 2013
BANGALORE: The State Government last month approved registration of ‘B’ khata certificate (title deeds) buildings constructed on revenue land in the Bruhat Bangalore Mahanagara Palike (BBMP) limits.

Latest Realty News Of State

Realty Talk's