Chalet Hotels Ltd. and K Raheja Corp Homes Team-Up for Gated luxury Residential Offering across an 8-acre land parcel in Bengaluru’s Koramangala market

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Mumbai, December 15,  2023 : Chalet Hotels Ltd. and K Raheja Corp Homes, have entered into a strategic alliance for a luxury residential development, in the Koramangala micro-market of Bengaluru. Spread across an expansive 8.25-acre premium land parcel owned by Chalet Hotels Ltd., the project will be exclusively marketed by K Raheja Corp Homes. This project is focussed to delivering an ecosystem which will have 7.44 acres allocated for a hi-end gated residential development, and 0.81 acres earmarked for a Grade A commercial development. This endeavour represents probably one of the finest greenfield residential projects in the area. Named Raheja Vivarea, the residential offering will be similar to the much-touted Raheja Vivarea in Mumbai’s Mahalaxmi, which has congregated the who’s who of Corporate India. With a total saleable area of 8.5 lakh sq. ft., the project encompasses a township of 9 towers, each with 10 floors and 2 Towers with 11 floors taking the total number of apartments to over 300. The development is underway with OC received for 4 towers.

 The collaboration between Chalet Hotels Ltd. and K Raheja Corp Homes exemplifies the alignment within the K Raheja Corp group, where diverse yet complementary strengths synergize to yield business outcomes. Chalet Hotels Ltd., with its proficiency in hospitality and asset development, effectively combines its capabilities with K Raheja Corp Homes, which plays a pivotal role as the project’s marketing partner, capitalizing on its rich experience in residential development and market acumen. The partnership is further fortified by the group’s thriving office venture, seamlessly complementing, and effectively meeting the demand generated by the evolving ecosystem. This allows individuals to live, work, and play, creating a holistic and compelling value proposition that not only maximizes the potential of each entity but also offers a thriving space for the entire community to flourish. The development is unique in the micro market, and one of the first hi-end gated communities in the prestigious Block 3 of Koramangala, with villa sized floor plates.

 Speaking on the project launch, Ramesh Ranganathan, CEO – K Raheja Corp Homes said, “The Koramangala market, with limited green field land prospects, makes this project highly aspirational. By combining our respective domains of expertise, the group is strategically poised to create a distinctive offering that combines the opulence of hospitality with the comforts of home, delivering value for stakeholders. This synergy is a testament to the group’s cohesive vision and collective pursuit of excellence in real estate development. This marks the luxury residential foray of the group with our flagship Vivarea brand in the city of Bengaluru.”

The Raheja Vivarea apartments will offer residences ranging up to 4,006 sq.ft. carpet, characterised by opulent 10.8 ft. floor to floor height and spacious decks extending up to 6.8 ft in width.  Homes can be tailored to variants of 3, 3.5, 4 and 5 BHK apartments costing upwards of INR 6 cr.

Intended to cater to the distinguished tastes of Leaders and CXO’s, Raheja Vivarea has also integrated various sustainability options and wellness elements into its design and operations. Initiatives include intelligent apartment orientation for fresh air and natural daylight, reflective paint on rooftops to manage heat insulation, electrical charging points for vehicles, wastewater treatment and reuse, low-flow water fixtures, solar panels for reduced electricity consumption, organic waste conversion on-site, and waste segregation and recycling, all aimed at minimizing the project’s ecological footprint and providing a greener and more sustainable living environment.

 With over 40 amenities spread across the central courtyard, lobby level, and clubhouse, comprising of sports and fitness zone, wellness zone, community space, leisure zone, kid’s arena, and a convenience space to ensure a perfect balance of fitness, recreation, rejuvenation, and social well-being of residents. The central courtyard is dedicated to being a vehicle-free zone and are oriented to look over this tranquil space.

Koramangala has excellent connectivity and a well-developed social infrastructure and is one of the most aspired residential hubs in Bengaluru. It features numerous enterprises and businesses, making it a vibrant commercial centre. With the best schools, prominent healthcare facilities and shopping and entertainment options, Koramangala is a vibrant micro-market choice for home buyers.

 Chalet Hotels Limited has a presence in Bengaluru with projects such as Bengaluru Marriott Hotel Whitefield with 391 operational keys and ~1msf of office development, in Marriott Complex, Whitefield. 

Corporate Comm India (CCI Newswire)