Puravankara Enters South Mumbai's Luxury Market with Breach Candy Deal
Bengaluru-based listed real estate developer Puravankara announced that it had secured redevelopment rights for a housing society named Miami
PuravankaraBreach CandySouth MumbaiLuxury Residential ProjectReal Estate DeveloperReal EstateSep 17, 2024
The company plans to develop a luxury residential project on the 1.3-acre land parcel, which is expected to have a development potential of around 100,000 sq ft. The project is expected to be completed in the next 4-5 years.
This is Puravankara's first foray into the South Mumbai luxury market. The company has a strong presence in the Bengaluru market and has also developed projects in other cities such as Chennai and Hyderabad.
The Breach Candy area is known for its upscale properties and is home to many high-end residential buildings. The area is also close to several luxury hotels, restaurants, and shopping centers.
Puravankara's entry into the South Mumbai luxury market is expected to increase competition in the area. The company's strong brand presence and reputation for quality construction are expected to attract many buyers.
The luxury residential market in South Mumbai has seen a surge in demand in recent years, driven by the area's proximity to business districts and its upscale amenities. The area is also home to many expatriates and NRIs who are looking for luxury properties.
Puravankara's project in Breach Candy is expected to be priced in the range of Rs 10-15 crore per apartment, depending on the size and amenities. The project is expected to be launched in the next few months.
The company has not disclosed the investment required for the project, but it is expected to be around Rs 500-700 crore.
Puravankara's entry into the South Mumbai luxury market is a significant move for the company, which is looking to expand its presence in the Mumbai market. The company has already developed several projects in the city, including the Purva Westend project in the Andheri area.
The Purva Westend project is a luxury residential project that offers 2, 3, and 4 BHK apartments. The project is located in the heart of the Andheri area and is close to several business districts and amenities.
Puravankara is a well-known real estate developer in India, with a strong presence in several cities. The company has developed many luxury residential projects in the past and has a reputation for quality construction.
The company's entry into the South Mumbai luxury market is expected to increase competition in the area, but it is also expected to attract many buyers who are looking for luxury properties.
Puravankara is a Bengaluru-based listed real estate developer that has been in business for over 40 years. The company has developed many luxury residential projects in several cities, including Bengaluru, Chennai, and Hyderabad. The company is known for its quality construction and strong brand presence.
Frequently Asked Questions
Where is the Puravankara project located?
The project is located in the Breach Candy area of South Mumbai.
What is the expected development potential of the project?
The project is expected to have a development potential of around 100,000 sq ft.
What is the expected completion time of the project?
The project is expected to be completed in the next 4-5 years.
What is the expected price range of the apartments?
The apartments are expected to be priced in the range of Rs 10-15 crore, depending on the size and amenities.
What is the investment required for the project?
The investment required for the project is expected to be around Rs 500-700 crore.
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