Shriram Properties Launches New Balinese-Inspired Residential Project Near Bengaluru's Electronic City

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In a significant development that underscores the growing real estate market in Bengaluru, Shriram Properties Ltd announced the launch of its latest residential project, codenamed 'Ultimate.' Nestled close to the bustling Electronic City, the project promises a unique blend of Balinese architecture and contemporary living, with a revenue potential estimated at ₹350 crore.

The company revealed that this ambitious project would feature 414 residential units spread across six towers. Emphasizing a harmonious blend of work and leisure, the development integrates co-working spaces amidst extensive open areas, making up more than 70% of the total project area.

Designed to offer a tranquil living experience reminiscent of Balinese style, the project includes a mix of two-bedroom and three-bedroom apartments. Each unit is meticulously designed to embody the essence of Balinese architecture and lifestyle, offering residents a slice of paradise just minutes away from the tech hub of Electronic City. This strategic location ensures that homeowners enjoy the convenience of city life without sacrificing the peace and tranquility of a holiday retreat.

A standout feature of the project is its 14,000-square feet clubhouse, a testament to Shriram Properties' commitment to providing unparalleled amenities. The clubhouse boasts over 40 world-class amenities designed to cater to the diverse needs of its residents, offering a wide range of recreational and wellness activities that promise a well-rounded lifestyle.

Vivek Venkateswar, Chief Sales and Marketing Officer at Shriram Properties, commented on the launch, "The demand for superior residences near Electronic City is on the rise, despite the area's already prevalent focus. We launched 'Codename Ultimate' to meet this demand, offering an exceptional living experience that bridges the gap in the market."

However, the announcement came at a time when Shriram Properties Ltd witnessed a dip in its share prices. The shares closed at ₹96.75 on the BSE, marking a decrease of ₹10.90, or 10.13%, reflecting the volatile nature of the real estate market.

As Shriram Properties forges ahead with this project, it reflects the company's vision to create living spaces that offer a blend of luxury, convenience, and a touch of the exotic, catering to the evolving preferences of homebuyers in Bengaluru.