Bengaluru — KVN Properties LLP, a real estate investment platform led by former Prestige Group CEO Venkat K. Narayana, has entered into a strategic Development Management Agreement (DMA) with Assetz Group for a premium residential project in North Bengaluru. The development will span approximately 1 million square feet and is expected to generate a gross development value (GDV) of ₹1,000 crore.
Project Highlights
- Scale & Timeline: The project will be completed in a single phase over the next 3–4 years, subject to obtaining all necessary regulatory approvals and RERA registration.
- Financial Structure: Under the DMA, KVN Properties will fund land acquisition and construction with an estimated investment of ₹500 crore. Assetz Group will manage the project’s execution, design, and development.
- Strategic Growth: With this agreement, KVN’s total residential development commitments for FY 2025–26 have reached 4.4 million square feet. This follows a previous partnership with Puravankara for a 3.4 million square foot project worth ₹3,300 crore. KVN aims to scale up to 10 million square feet of development within the fiscal year.
Leadership Insight
Venkat K. Narayana, Promoter of KVN Properties LLP, said:
“Our DMA with Assetz is a strong statement of our capital strength and commitment to delivering high‑quality urban communities. As we scale to 10 million square feet this fiscal, our goal remains clear — to create exceptional living spaces in high‑growth corridors with the right partners and a disciplined investment approach.”
Sunil Pareek, Executive Director at Assetz Pvt Ltd, stated:
“North Bengaluru is a high‑growth corridor with a discerning buyer base. This partnership allows us to co‑create a landmark project that reflects KVN’s commitment to community‑focused development and our passion for design‑driven living.”
He added that this project is likely the first in a broader series of collaborations between Assetz and KVN across Bengaluru.
Market Context & Outlook
- Growth Corridor: North Bengaluru has witnessed a 14% year-on-year increase in residential property prices in the first half of 2025. The surge is attributed to rapid infrastructure development, job creation in the tech sector, and enhanced connectivity.
- Land Aggregation Model: KVN’s strategy focuses on institutional funding, land acquisition, and partnerships with established developers. The company is also exploring expansion opportunities in other major metros, including Mumbai, Pune, Hyderabad, and Chennai.
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