Brigade Enterprises, one of the top real estate players in Bangalore, announced its plans to set up Brigade Bricklane, a low-rise apartment project at Jakkur in North Bangalore.
The flats will be priced at Rs 33 lakhs and above and will be constructed with lots of open space between each block.
“The apartments have been designed around a vertical & horizontal green axis – in a configuration of G+4 floors with inter spread gardens between each block of apartments. Each block overlooks into an open space that forms the network of visual connectivity,” it said.
The Indian real estate market has seen a drying up of demand in the premium segment (Rs 70 lakhs and above) due to a rapid increase in prices over the last 20 years or so.
As such, most of the new projects announced have been in the ‘affordable housing’ (Rs 10-40 lakh) category.
Bangalore has been the best performing market in the country, and practically the only one to escape steep price corrections in the last two years.
The Bricklane project is located on Kogilu Road on the way to the international airport.
It is also not far from Manyata Tech Park, one of the biggest IT office destinations.
The area around Manyata Tech Park is one of the most rapidly developing real estate zones in the city due to the relative ease of finding land for development and its proximity to the Airport.
Bricklane will offer facilities such as a swimming pool, gymnasium, tennis court, children’s play area, skating area, convenience store; amphitheatre and a meditation center.
The flats will be in the 1 and 2 bedroom configuration and will have areas ranging from 37.66 sq.m to 59 sq.m (carpet area).
Pavitra Shankar, Executive Director of Brigade Enterprises said her company is targeting “youngsters, trend-setters and game-changers” looking for “homes that suit their style” with the project.