Bengaluru (Karnataka) [India], September 23 (ANI/BusinessWire India): Century Real Estate, a leading real estate developer and one of the largest landowners in South India, today announced that over 75% of inventory, in their plotted development project Century Seasons, has been sold in just a quarter.
The company's other plotted development project, Century Greens, sold out entirely within two quarters.
The Bengaluru real estate market has witnessed tremendous demand for investments in plots & housing despite the second wave and two-month lockdown in May and June. Industry experts predict the sector to be a $1 trillion opportunity by 2030, across segments - with plotted taking reign.
"Quick monetization of land, faster sales, better cash flow generation, and quick exits are now attracting large-format real estate developers into the plotted space. Century Real Estate has been at the forefront of plotted developments for many years now, and it is heartening to see many other players joining in. Century Seasons, our recent launch, is themed on the four seasons with the design and aesthetic developed to bring alive the theme. An additional advantage for consumers is that of the proprietary CenturyMark, carrying the trust, transparency, build quality and professionalism that marks Century Real Estate as one of the most trustworthy and respected brands in Indian real estate. From plot purchase to home interiors, complete turnkey solution services are additionally provided to the buyer," opined Maninder Chhabra, Chief Strategy Officer - Sales, Marketing and CRM.
"The plotted development segment has been seeing bullish demand - with customers being a mix of investors and end-users. More and more people have realized the need to invest in land, as cities are getting denser and the economic value of land is significantly increasing. In addition to this, we see new-age customers choosing to invest in plots as unlike earlier, these plots have modern amenities and give buyers greater flexibility to build their dream homes as per their choice," said Ajay Singh, Vice President - Sales.
Century Real Estate is a pioneer of plotted development projects in the Bengaluru real estate market and has created landmark projects. The company's plotted developments have stood out in the market and always performed well owing to its large format, theme-based approach. One such success was the Century Sports Village at Devanahalli - a 55 acre plotted development project with 7-acres dedicated to sports.
The company is set to launch new projects in various formats in Q3 and Q4 of this year. The projects in the pipeline will cover 1.15 mn sq ft of development.
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