Macrotech Developers Expands Footprint in Bengaluru with a 20 Acre Land Acquisition

Macrotech Developers Expands Footprint in Bengaluru with a 20 Acre Land Acquisition

Macrotech Developers Expands Footprint in Bengaluru with a 20 Acre Land Acquisition

Macrotech Developers, a leading real estate company under the Lodha brand, has acquired nearly 20 acres of land in Bengaluru for a new housing project worth 2800 crores. This acquisition aligns with the company’s strategic expansion beyond its strongholds in the Mumbai Metropolitan Region (MMR) and Pune.

The Bengaluru acquisition involves both outright purchases and a joint development agreement with landowners, showcasing Macrotech's versatile approach to land acquisition. With this addition, the company now has five key project locations in Bengaluru, positioning it to achieve significant pre-sales growth starting next fiscal year.

Expansion Driven by Demand

Macrotech entered the Bengaluru market a few years ago and received an encouraging response to its debut project in the IT hub. This success motivated the company to expand its presence in the city, capitalizing on the increasing demand for premium residential properties.

Sales Milestones and Growth Projections

Macrotech has been on an upward trajectory, recording a 20% growth in sales bookings for FY 2023-24, achieving 14520 crores compared to 12060 crores in the previous year. The company aims to reach 17500 crores in sales this fiscal year, backed by strong market performance and robust demand. In the December quarter alone, it reported a 32% year-on-year increase in sales bookings, totaling 4510 crores.

Broader Developments and Future Plans

With a portfolio encompassing over 100 million square feet of delivered real estate and ongoing projects spanning 110 million square feet, Macrotech is also focusing on industrial and logistics parks across various states. This diversified approach ensures a balanced growth trajectory across multiple sectors.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/