Puravankara Enters South Mumbai's Luxury Market with Redevelopment Project in Breach Candy
Puravankara acquires redevelopment rights of Miami Apartments in Breach Candy, marking its entry into South Mumbai's luxury market. The company also expands its footprint in Andheri West and signs a Joint Development Agreement in Bengaluru's Electronics C
Puravankara LimitedSouth MumbaiLuxury Real EstateRedevelopment ProjectsMumbai Real EstateReal Estate MumbaiSep 12, 2024
Puravankara has also expanded its footprint in Lokhandwala, Andheri West, where it previously acquired redevelopment rights for two societies on 3 acres of land in November 2023. The company has now been chosen as the preferred developer for an additional 1.3 acres, forming a 4.3-acre project. Market sources estimate property rates in the area to range between Rs 40,000 and 45,000 per square foot.
Frequently Asked Questions
What is the location of Puravankara's new redevelopment project in South Mumbai?
The project is located at Breach Candy, South Mumbai.
What is the estimated property rate in the area where Puravankara's new project is located?
The estimated property rate in the area is between Rs 1,25,000 and Rs 1,40,000 per square foot.
What is the size of the land parcel that Puravankara has acquired in Bengaluru's Electronics City micro-market?
The land parcel is approximately 1.95 acres in size.
What is the saleable area of the land parcel in Bengaluru's Electronics City micro-market?
The saleable area is approximately 260,000 square feet.
What is the current market rate in Bengaluru's Electronics City micro-market?
The current market rate in the area is between Rs 12,000 and Rs 14,000 per square foot.
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