Puravankara Enters South Mumbai's Luxury Market with Redevelopment of Miami Apartments
Puravankara Ltd acquires redevelopment rights for Miami Apartments in Breach Candy, South Mumbai, marking its entry into the high-end real estate market. Property rates in the area are estimated at ₹1,25,000-1,40,000 per square foot.
Puravankara LtdSouth MumbaiLuxury Real EstateRedevelopmentMiami ApartmentsReal EstateSep 12, 2024
According to market sources, property rates in the area are estimated at ₹1,25,000-1,40,000 per square foot, making it one of the most expensive neighborhoods in the country. The company's shares ended at ₹430, down by ₹1.85, or 0.43%, on the BSE.
The redevelopment of Miami Apartments marks a significant milestone for Puravankara Ltd, which has been expanding its presence in the Indian real estate market. The company has a strong track record of delivering luxury projects, and this new venture is expected to reinforce its position in the market.
Frequently Asked Questions
What is the location of the Miami Apartments project?
The Miami Apartments project is located in Breach Candy, South Mumbai.
What is the estimated property rate in the area?
According to market sources, property rates in the area are estimated at ₹1,25,000-1,40,000 per square foot.
What is the size of the land parcel acquired by Puravankara Ltd?
The land parcel acquired by Puravankara Ltd is spread over 2,000 square meters.
What is the expected saleable area of the project in Electronics City, Bengaluru?
The expected saleable area of the project in Electronics City, Bengaluru is 260,000 square feet.
What is the current market rate for the locality in Electronics City, Bengaluru?
Currently, the market rates for the locality are at ₹12,000-14,000 per square feet.
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