NEW DELHI: Umiya Buildcon has acquired a 20,000 sq ft plot in Bengaluru’s central business district (CBD), located off Cunningham Cross Road, for a residential development.
The site offers a built-up potential of approximately 55,600 sq ft, and, upon completion, the project is anticipated to contribute nearly ₹200 crore to Umiya’s financial standing.
The acquisition coincides with a period of projected steady growth in Bengaluru’s residential market. A recent analysis by ICRA indicates that the city’s housing market is set to see a 3–5% increase in area sold in FY2026, primarily driven by sustained demand in mid-income and luxury segments. Bengaluru, which represents 14–15% of residential sales across India’s seven major metros, reached a decade-high of 102 million sq ft in sales during FY2024, before experiencing a slight decline in FY25.
In the first half of FY26, Bengaluru recorded 52 million sq ft in residential sales, marking a 14% year-on-year increase, signifying ongoing buyer interest despite a slowdown in the affordable housing sector. On the supply side, new launches remain robust, with 124 million sq ft introduced in FY25 and an additional 63 million sq ft launched in the first half of FY26. ICRA anticipates a further 10–12% increase in launches this fiscal year, supported by healthy inventory levels and demand for premium properties.
A significant trend influencing the market is the rise in luxury housing. In H1 FY26, luxury launches accounted for 49% of all new supply, surpassing the mid-income segment for the first time. While sales velocity in the ultra-luxury segment has recently declined, ICRA observes that overall inventory health remains stable, with the years-to-sell (YTS) metric at a favorable 1.1 years as of September 2025.
