Campan valley developers BP Kumar Babu of Cornerstone Group, the largest landholder in Bengaluru, has acquired a 10,000-sqft plot opposite UB City for Rs 45 crore. At Rs 45,000 per sqft, the deal has dwarfed all other recent transactions, including Flipkart cofounder Binny Bansal’s residence buy in Koramangala last year.
Confirming the deal, Kumar Babu, CMD Cornerstone said he was planning to build a corporate office on the land.Earlier owned by Philips and his family , the land will be converted into 35,000-sqft office. Babu completed the registration two weeks ago.
Cornerstone owns 2,300 acres of land worth more than Rs 10,000 crore in Bengaluru and its outskirts, especially in north and east of the city. That makes the company a prime provider of real estate to most leading developers in the city.
The area is one of the sought after in the city, which, apart from UB City, also houses JW Marriott hotel. It also boasts of showrooms of fancy vehicles such as BMW, Porsche and Harley Davidson. Builder Nitin Bag mane’s residence, through a joint development with the landowner, is adjacent to Babu’s latest buy . In 2013, Sobha Developers sold low-cost aviation pioneer Capt Gopinath’s 16,200-sqft home in the same vicinity to the Goenkas of Texport Overseas, a garment manufacturing company , for Rs 55 crore, pegging the per-square-foot value at around Rs 34,000 sqft.Last year, Flipkart’s Binny Bansal acquired a 10,000sqft home in Koramangala’s 3rd block -a coveted neighborhood of self-made billionaires -for Rs 32 crore.
Campan Valley : Campan Valley, in the heart of Varthur near Whitefield, is Cornerstone’s flagship project in its home city of Bengaluru.
Campan Valley is spread over more than 46 acres of verdant land, dotted with one-of-a-kind villa plots to offer residents a lifestyle beyond compare, The project blends quality residential living options and infrastructure with world-class community and leisure facilities to create a truly unique, international quality, living experience.
Cracknell, the renowned Landscape Architect from United Kingdom has partnered Cornerstone to work on landscaping and planning Campan Valley.
Cracknell has been at the forefront of award winning landscape architecture, planning and urban design practices for clients across the globe and their projects include the BurjKhalifa Promenade and Jumeirah Beach Hotel in the UAE.
About Cornerstone group : Cornerstone is a leading property group that has partnered India’s top real estate developers in becoming a significant part of the development ecosystem. Regarded a pioneer in land holding, the company holds the distinction of being counted among the largest owners of real estate in Bengaluru with a development portfolio that will total over 15 million square feet within the next 6 years.
Cornerstone is the first land holding firm to corporatize its business and transform into a ONE-STOP-SOLUTION-PROVIDER for land banking.
Cornerstone’s underlying framework is rooted within the perspectives of strong knowledge driven processes, robust partnerships and deep business insight. Each endeavor is based on transparency, trust and safeguarded by the company’s high standards of professionalism and ethics. With focused capabilities and unmatched competencies, the company’s vision is to deliver vibrant, new, living and working environments that are ‘Beyond Standards’.
Mr.V. Madhu (Popularly known as Metro Madhu ) former IAS officer responsible for rolling out Metro train in Bangalore also works in Cornerstone group as Project director, he was also The Principal Secretary to Government of Karnataka in the Infrastructure Development Department
Chairman and Managing director : Mr. B.P Kumar Babu is a first generation entrepreneur who has successfully helmed Cornerstone Properties Pvt. Ltd. and a host of other enterprises within the real estate sector. Ethics, values and foresight have underpinned all land and development initiatives within his purview.
Mr. Kumar Babu hails from a family that has been involved in land banking for over three decades. This wellspring of knowledge across generations has contributed to his innate business acumen and abilities. Cornerstone’s business advantage bears testimony to his single-minded dedication and an unrelenting commitment to his goals. As Chairman and Managing Director, Mr. Kumar Babu brings to the table an entrepreneurial approach, which consistently provides fresh thinking and strategic solutions.
His comprehensive background includes complex stakeholder engagement and value driven negotiations. He is equally skilled at leveraging industry knowledge and strong business acumen to identify new opportunities and see them through to completion. Further, he is a well-known and respected member of the professional community.
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