Umiya Buildcon acquires 20,000 sq ft plot in Bengaluru

Umiya Buildcon has secured a 20,000 sq ft plot located in Bengaluru’s central business district (CBD), near Cunningham Cross Road, for the purpose of developing a residential project. This plot has a potential built-up area of approximately 55,600 sq ft.

Once completed, this project is anticipated to contribute nearly ₹200 crore to Umiya’s financial statements. The acquisition occurs at a time when Bengaluru’s residential market is expected to experience steady growth.

A recent analysis by ICRA indicates that the city’s housing market is projected to achieve a 3–5% increase in area sold in FY2026, primarily driven by sustained demand in the mid-income and luxury segments.

Bengaluru, which represents 14–15% of all residential sales across India’s top seven metropolitan areas, recorded a decade-high of 102 million sq ft in sales during FY2024 before experiencing a slight moderation in FY25. In the first half of FY26 alone, the city has already recorded 52 million sq ft of residential sales, reflecting a 14% year-on-year increase, which demonstrates ongoing buyer interest despite a slowdown in the affordable housing segment.

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 that launches will increase by another 10–12% this fiscal year, bolstered by healthy inventory levels and demand for premium residences.

A significant trend influencing the market is the rise in luxury housing. Luxury launches accounted for 49% of all new supply in H1 FY26, surpassing the mid-income segment for the first time. Although the sales velocity in the ultra-luxury category has recently slowed, ICRA observes that the overall inventory health remains stable, with the years-to-sell (YTS) metric maintaining a comfortable level of 1.1 years as of September 2025.