by THO
Sobha Limited will be developing a 26-acre row housing project in Bengaluru. The company’s estimated total revenue potential for the project stands at approximately ₹2700 to 2800 crore, the company told HT Digital.
The project will be launched on April 20, 2024, the company said.
The project is RERA certified. The construction is expected to begin soon, the company said.
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Sobha Crystal Meadows will be developed in five phases. The first phase will be completed by December 2029, second phase by December 2031, the third phase by December 2032, the fourth phase by December 2033 and the fifth phase by December 2035, the company said.
Sobha Ltd’s estimated total revenue potential for Sobha Crystal Meadows stands at approximately ₹2700-2800 crore considering that the per unit price starts at ₹10.5 crore, the company said.
The project comprises 290 English-themed row houses in Bengaluru. These will be located off Sarjapur Road. These are 4 BHK row houses with a super built-up area ranging from 4237 to 4815 sq. ft. spread across G+3 levels, along with a terrace.
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“Sobha Crystal Meadows is a row-house project crafted to cater to Bengaluru’s C-suite executives, aimed at addressing the scarcity of high-end residences off Sarjapur Road—the heart of Bengaluru’s bustling commercial hub. The project draws inspiration from Victorian architectural style, and its prime location advantage will provide unparalleled convenience and access to the city’s vibrant pulse,” said Sumeet Chunkhare, chief marketing & communications officer at SOBHA Limited.
Founded in 1995, SOBHA Limited has cumulatively delivered over 133.58 million square feet of developable area across 27 Indian cities.
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Besides Sobha Crystal Meadows, the company has also launched Sobha Elysia which are luxury apartments spread over 2.65 acres in GIFT City, with a total saleable area of 1,249,984.98 sq ft. The project comprises two towers with 572 units (configurations of 3 and 4 BHK) with sizes ranging from 1,870 sft to 2,625 sft, the company said in its operational update on April 4.
Sobha Ridge was also launched on 2.78 acres, with a saleable area of 232,441.26 sft comprising 110 apartments (3/3.5/4 BHK configurations) with sizes ranging between 1,750 sft to 2,759 sft. The company has also launched Sobha Atlantis Phase 2 which is a luxury apartment project in Kochi being developed in 2.35 acres.
The company posted a 28 per cent growth year-on-year in sales bookings during the last financial year to ₹6,644.1 crore on the back of strong consumer demand. It had clocked sales bookings of ₹5,197.8 crore in the year-ago period, the company said in its operational update.
