SOURCE : NEW18 NEWS
Last Updated:May 06, 2025, 16:16 IST
Umesh Gowda H.A, chairman & founder of Sanjeevini Group, shares the company’s plans and real estate potential of Gunjur, which has seen 2.5x jump in housing prices since 2020.
Umesh Gowda H.A, chairman and founder of Bengaluru-based real estate developer Sanjeevini Group.
Gunjur, located in the east of Bengaluru, has seen 2.5x jump in housing prices since 2020. The micro market has emerged as a preferred choice for tech professionals looking for homes closer to their workplace in Whitefield, Brookfield and Bellandur. The proposed infrastructure development like 45 Mts. CDP Road and Peripheral Ring Road will further enhance its connectivity to the international airport and other employment hubs in the city. In an interview with news18.com, Umesh Gowda H.A, chairman and founder of Bengaluru-based real estate developer Sanjeevini Group, shares the company’s future plans and real estate potential of Gunjur. Edited excerpts:
The residential real estate sector has witnessed some slowdown in launches and sales in 2024. What is your assessment of what the sector is going to be like going forward?
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The real estate sector may have come down from the highs witnessed in the past three years after the pandemic but the market with its inherent strengths will continue to attract investors. The massive infrastructure development across States, rising homeownership sentiments, real estate as a preferred asset class for wealth creation and income generation, rising investment by domestic and global companies in India leading to demand for office spaces and creation of jobs and India’s strong economic growth and low interest rate regime will positively impact real estate demand going forward. I am confident that housing sales in top 9 cities will stay around 5 lakh unit mark in 2025.
How do you see the Bengaluru real estate market which off late has performed extremely well as compared to other regions?
Bengaluru has emerged as the top real estate market in terms of housing supply in 2024. The city continues to drive demand from tech professionals with office leasing at record high in the city. GCCs have increased their presence and that has also played a key role in driving housing demand. In fact, with majority of the homes being sold were priced Rs 1 crore and above reflects the growing preference for premium and luxury homes. Micromarkets like Sarjapur Road, Whitefield, Gunjur etc. have emerged as the preferred destination for housing in the city owing to the accessibility to offices, malls, schools and hospitals.
The Eastern part of Bengaluru, especially Gunjur and Varthur have evolved into a very sought-after residential hotspot. What are the demand drivers for this region?
Gunjur has witnessed 2.5X growth in housing prices since 2020 with prevailing average housing prices at Rs 11,000-12,000 per square feet. The large-scale infrastructure development like 45 Mts CDP Road, which connects to the Outer Ring Road and Varthur–Sarjapur/Chennai Highway; and Peripheral Ring Road will be game-changers for the real estate market in Gunjur. The area enjoys the geographical advantage as it is in close proximity of major office hubs including Whitefield, Brookefield and Bellandur which employ close to 8 lakh people.
Its connectivity to Kempegowda International Airport has also transformed the market. Besides, the presence of world-class schools, hospital and malls make it convenient for homebuyers. As a result, the micro market has attracted top developers to meet the increasing housing demand which in the last five years has grown by over 100%.
What is the group’s plan for entry into the Gunjur market?
Sanjeevini Group, after developing luxury projects in Eastern Bengaluru, is planning to enter the Gunjur market with a group housing project. We are currently awaiting RERA approval and once we receive the same, we shall go ahead with the formal announcement. We are hopeful that with our past record of quality and delivery, our project will do well and find acceptance amongst the tech professionals willing to stay close to their workplace and in an environment of tranquillity and modernity. Gunjur presents limitless potential and will continue to be a preferred destination for working professionals.
What projects have the company developed in the past?
Since 2010, the company has consistently created exceptional spaces in residential, commercial, and hospitality sectors. We have built a strong relationship with our partners in architecture, construction, landscaping and sales associates that have helped us drive this growth. We have delivered luxury villa plots and apartments like Sanjeevini Vaibhav, Sanjeevini Sanctuary, Sanjeevini Srushti, Sanjeevini Srushti Srigandha in Eastern Bengaluru. We are currently developing a luxury apartment Sanjeevini Aarna in Old Madras road.
- First Published:
May 06, 2025, 16:11 IST
