Nitesh Estates through its 100% wholly owned subsidiary company - Nitesh Urban Development has signed a joint development agreement (JDA) for development of an area admeasuring 11.15 acres of land parcel located at Marathahalli - Sarjapur Outer Ring Road, a prominent IT hub in Bangalore.
The project will have 750,000 square feet of saleable area developed into residential villament giving the company revenue of Rs 450 crore over a period of 42 months. The company will commence the project in next 90 days.
Nitesh Estates is in the business of real estate development and is primarily engaged in the development of residential projects in Bangalore. It is also developing a hospitality project in Bangalore, a residential and an office project in Kochi.
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