Real estate in Bangalore continues to boast impressive growth, as SNN Builders recently demonstrated by finalizing possession of the 2 million square feet superior residential project known as Water’s Edge from the Essar Group. This significant project, located in the rapidly developing Hebbal locality, was secured at a total deal price of Rs 490 crore.
With the achievement of this contract, SNN Builders has solidified an agreement with IBROX Real Estate Development, a subsidiary of Essar Group, which will now take the lead in completing the Water’s Edge project. IBROX is tasked with fulfilling commitments under a prescribed timeline. An official statement from Essar Group clarified that the finalized price reflects the specific needs of their clientele.
Ramesh Agarwal, Managing Director of SNN Builders, commented, "Our company intends to relaunch and rebrand the project in a manner that ensures both existing customers and prospective clients can appreciate a product that distinctly excels in the Hebbal micro-market."
As construction progresses, the firm estimates an additional requirement of Rs 400 crore to fully realize the project. Currently, work has been completed on two towers, though progress has been temporarily halted due to challenges faced by the Essar Group, as noted by Ramesh Agarwal.
Agarwal further emphasized, "This luxury residential project features the tallest tower in North Bangalore. We anticipate its completion within the next three and a half years, accompanied by world-class amenities."