"We expect 7 million (70 lakh) people to visit the store in a year as a range of affordable and elegant home furnishings and other items will be on display for sale," asserted Betzel on the occasion.
In addition to parking space for about 2,000 cars, the store will have a 1,000 seater restaurant serving Swedish and Indian delicacies.
"We will also have children's play area beside 7,500 products on offer with a solution to create a better and brighter life at home," Betzel noted.
Swearing that Bengaluru was a special city for the company, the executive said the city's cosmopolitan people would flock to the store for shopping, and relaxing with families and friends.
IKEA's foray into Bengaluru will create hundreds of jobs with manufacturing in the state under best practices in retail and supply chain.
The store will have solar panels, LED lights, rainwater harvesting, water treatment plants and modern waste management systems.
"We will use electric vehicles (EV) for deliveries and co-worker transportation in the future," added Betze.