Assetz Property Group has been operating in Bangalore since its founding in 2006 — first as a commercial developer, then expanding steadily into residential land. The group is headquartered in Singapore and operates across four verticals: commercial, residential, warehousing, and fund management. Its early commercial work in Bangalore set a distinct institutional tone: Vrindavan Tech Village (now Embassy Tech Village), India's first Platinum LEED-certified IT SEZ, housed tenants including Cisco, Flipkart, Sony, and JP Morgan. Global Technology Park followed. Together, these two assets represent over 4.5 million square feet of Grade A office space with a realised asset value exceeding USD 500 million.
That commercial foundation is directly relevant to understanding what Assetz is doing in Devanahalli today. The group has leased 1 million square feet of warehouse space to Amazon in the North Bangalore corridor, giving it first-hand operational knowledge of how this part of the city functions — its logistics networks, its employment profile, and its infrastructure trajectory. When Assetz began acquiring land in Devanahalli for plotted residential communities, it was not entering unfamiliar territory.
Assetz has established a clear and deliberate pattern of plotted community development in Devanahalli and its adjoining roads. The group has launched or pre-launched multiple projects in this micro-market:
This is not a developer experimenting with a single land parcel. Assetz has made Devanahalli's IVC Road and NH 44 belt a primary growth corridor within its residential portfolio, applying the same planning approach — wide internal roads, underground utilities, Miyawaki-style tree cover, clubhouse-led amenities, and meaningful open-space ratios — across successive launches.
Assetz Codename Palmscape is the group's most recent plotted community on IVC Road, Devanahalli, and opened for Expression of Interest on 21 March 2026, with a formal public launch expected in May 2026. The project is positioned at Doddacheemanahalli, Devanahalli, approximately 3 minutes from the Satellite Town Ring Road (STRR) and 15–20 minutes from Kempegowda International Airport.
| Parameter | Detail |
|---|---|
| Total land area | 35 acres (642 plots) |
| Plot sizes | 1,200 sq ft to 2,400 sq ft |
| Pre-launch pricing | ₹1.08 crore onwards |
| Open space | 60%+ of total land area |
| Tree cover | 1,000+ trees across the layout |
| Clubhouse | 20,000 sq ft |
| Amenities count | 45+ |
| Possession timeline | April 2030 |
| Road connections | IVC Road, NH 44, NH 75, SH 104, STRR, PRR |
The layout prioritises low density and green infrastructure: over 77% open space by some planning metrics, tree-lined avenues, underground electrical lines, water supply and storm-water drainage built into the base infrastructure. Assetz has applied the same low-density, clubhouse-anchored planning philosophy here that defines its other Devanahalli communities. Nearby social infrastructure includes Harrow International School, Stonehill International School, and the Padukone-Dravid Centre for Sports Excellence — all within the IVC Road belt.
The IVC Road corridor sits between the KIADB Aerospace Park, which spans 980 acres and hosts operations from Boeing and Airbus, and the 413-acre Devanahalli Business Park, designed to attract multinational corporate tenants. A Foxconn global manufacturing hub is among the major industrial anchors in the zone. These employment generators create sustained residential demand at the city's northern edge — the same demand pattern that Assetz has been building for since its first land acquisitions in this micro-market.
Flat prices in Devanahalli have appreciated by approximately 57% over three years and 72.7% over five years, according to transaction data sourced from Karnataka government records. Land rates in the area currently range between ₹2,100 and ₹8,500 per sq ft depending on exact location and access. Against that backdrop, Assetz Codename Palmscape's pre-launch entry of ₹1.08 crore for a 1,200 sq ft plot represents roughly ₹9,000 per sq ft — a pricing level consistent with branded, amenity-rich plotted communities in the immediate corridor.
Infrastructure projects that directly affect the IVC Road belt include the Satellite Town Ring Road (STRR), already partially operational, and the proposed Namma Metro Phase 2B extension toward Devanahalli. The Peripheral Ring Road (PRR) will add another arterial connection when completed. NH 44 links the area to Hebbal and central Bangalore in approximately 25 minutes. This combination of existing and incoming connectivity is a principal reason Assetz has concentrated successive launches along this specific stretch rather than dispersing across North Bangalore more broadly.
Assetz's fund management vertical has completed 13 private equity investments and delivered nine exits, with backers that have included J.P. Morgan India Property Fund, Pramerica, Mapletree, and the World Bank. The residential business now spans 18+ projects across more than 20 million square feet and 10,000+ units in Bangalore. The group's philosophy, internally described as "Better Design," governs both layout planning and infrastructure specification — underground utilities, sustainability features such as rainwater harvesting and solar integration, and IGBC-certified green practices appear across its residential portfolio.
For buyers evaluating Assetz Codename Palmscape, the Devanahalli pattern is instructive: the group has successfully launched, executed, and delivered plotted communities in this same corridor — Atmos and Aura, Promise of Spring, and The Secret Lake — before this latest launch. That operational continuity in one micro-market, rather than scattered launches across the city, gives buyers a concrete basis for assessing developer familiarity with local land, approvals, and infrastructure delivery in Devanahalli.