Bengaluru based Krishna Priya Estates Private Limited and Micro Labs Limited have successfully executed a joint development agreement with Brigade Enterprises Limited.
The joint development will build around 2 million square feet of residential housing, which is spread over 14 acres, in one of the fast-growing residential hubs of Bengaluru. The project will be designed and executed in state of art quality and sustainability.
Poovayya & Co advised Krishna Priya Estates and Micro Labs on this joint development agreement. The Firm advised on the entire life cycle of this real estate transaction, from structuring, preparation of transaction documents, negotiation support and successful closure.
The transaction team was led by Savitha K G (Partner) and consisted of Swarna Shenoy (Principal Associate) and Mohan Krishna (Associate).
The 14-acre land parcel is located at Yelahanka in North Bengaluru. It is a highly sought-after destination for real estate investments, its strategic location, robust infrastructure, and rapid urban development.
It is projected to yield a gross development sales value of about INR 2,100 Crores (USD 303 million approx..). The transaction marks a union of Micro Labs and Krishna Priya Estates with the Brigade Group – one of the leading real estate property developers in India.
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