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Lodha Developers has acquired a 100% stake in Chaitanya Bilva for ₹500 crore, making CBPL its wholly owned subsidiary.
Chaitanya Bilva Private, incorporated on November 17, 2021, operates in the development and construction of residential real estate projects.
The deets: It also gives Lodha direct access to CBPL’s prime land parcel of 8.37 acres in Bangalore. The move is a part of planned strategy by Lodha Developers to enhance presence in Tier 1 cities. Currently, Lodha has 4,400 acres of land under its ongoing and planned projects. This acquisition will add to that growing portfolio.
Zoom out: the real estate sector in India is poised to reach a market valuation of $1 trillion by 2030. This would largely be driven by the commercial and retail segments.
According to reports, India would need 25 million more units of affordable housing to meet its growing urban population’s demand. With projects like these, Lodha developers can tap on this opportunity and fill this infrastructure gap.
