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.
Related News Articles
Navi Mumbai Court Acquits Three Men in 2012 Real Estate Developer Murder Case
Thane, Feb 6 (PTI) - A court in Navi Mumbai has acquitted three men accused of the murder of a real estate developer in 2012, citing a lack of substantial evidence against them.
Anant Raj Cloud Joins Forces with Google to Power India's Digital Revolution
Real Estate News - Get the latest updates on India's data center market and its growth potential...
Unveiling the Water Crisis in Pune's Kharadi Area: A Community's Struggle
Pune’s Kharadi area is facing a severe water crisis, leaving residents desperate for a solution. This article delves into the challenges and potential solutions for this critical issue. Home · Urban News · Mobility · Infrastructure · Real Estate · Sustain
China Rolls Out Extensive Property Stimulus to Revitalize Housing Market
The Chinese government has introduced a comprehensive package of measures to boost the housing market, including lower mortgage rates and relaxed down-payment requirements for second homes, aimed at revitalizing the sector and driving economic growth.
India's Real Estate Equity Investments Soar 46% to USD 8.9 Billion in 2024
India's real estate equity investments have surged 46% year-over-year to USD 8.9 billion from January to September 2024, surpassing the total of the previous year.
India's HNWIs Soar: 4th Globally with 85,698 High Net Worth Individuals in 2024
India has emerged as the fourth-largest country in the world for high net worth individuals (HNWIs), boasting 85,698 such individuals. The number of billionaires in the country has also seen a significant 12% rise in 2024.