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Embassy Developments Bets on Green Design Amid Housing Stagnation
Embassy Developments has started building a large housing project in Bengaluru.
It is called Embassy Origins and will include villas and apartments.
The company wants to use the land’s lake, natural slopes and trees in its design.
It also plans to plant 4,000 local trees and reduce its need for water tankers.
Aditya Virwani said buyers may eventually pay more for cleaner air and healthier surroundings.
He said this change will likely happen after people live in such communities and share their experiences.
He also said home prices are currently staying mostly flat because many homes launched earlier are now being completed.
In his view, this oversupply could continue for another 6-7 years.
He said demand for very expensive homes remains strong despite concerns about artificial-intelligence-related job losses.
Embassy Developments launched Embassy Origins, an 85-acre project north of Yelahanka in Bengaluru.
The first phase has a gross development value of about Rs 4,500 crore, with 217 villas and 855 apartments.
Managing Director Aditya Virwani said environmental quality may influence prices more once residents experience completed communities.
Virwani expects residential price stagnation to continue until excess supply reduces, potentially for another 6-7 years.
The project plans to replace eucalyptus trees with 4,000 indigenous trees and use lakes for water filtration and recharge.
- Who
- Embassy Developments and its Managing Director Aditya Virwani.
- What
- The company launched Embassy Origins and discussed green housing, residential price stagnation, supply and luxury-home demand.
- Where
- The project is north of Yelahanka in Bengaluru, Karnataka.
- When
- Embassy Origins was launched on Tuesday; the article does not provide a calendar date.
- Why
- The development is intended to respond to interest in environmental quality while using the site’s water systems, contours and tree cover.
Key facts
- Project
- Embassy Origins
- Location
- 85 acres north of Yelahanka, Bengaluru
- First-phase value
- About Rs 4,500 crore gross development value
- First-phase homes
- 217 villas and 855 apartments
- Planned tree replacement
- 4,000 indigenous trees replacing eucalyptus trees
- Residential price outlook
- Virwani expects stagnation to potentially continue for another 6-7 years
- Launch pipeline
- Rs 50,000 crore in total gross development value; Rs 22,000 crore launched in the previous 10 months and another Rs 10,000 crore planned by the end of FY27
Sources
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