Puravankara Expands Bengaluru Presence with 7.26-Acre Land Acquisition
Real estate major Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, with a potential gross development value of over Rs 900 crore.
Real EstatePuravankaraBengaluruLand AcquisitionProperty DevelopmentReal Estate MumbaiJul 02, 2024
In a separate regulatory filing, Puravankara's wholly-owned subsidiary, Provident Housing, has purchased owner's shares of land in Provident Botanico and owner's share of unit in Provident Capella for Rs 165 crore and Rs 86 crore, respectively.
Ashish Puravankara, Managing Director of Puravankara, said, 'With the acquisition of landowner share of 820,661 sq ft in Provident Adora De Goa, Provident Botanico, and Provident Capella, along with the 7.26 acres of land in Hebbagodi, the group has added a potential total GDV of Rs. 1,550 crore in addition to the recent acquisitions in Mumbai.'
The potential gross development value of Provident Botanico is Rs 350 crore, while Provident Capella's GDV is Rs 134 crore. 'In the previous financial year, we sold around 7.35 million sq ft. With planned launches of around 14 million sq ft for FY25 from our existing land bank, our focus shall continue to be on business development to replenish our land bank, keeping in mind the future growth plans of the group,' he added.
Information
Puravankara is a leading real estate developer with a presence in Bengaluru, Mumbai, and other cities across India. The company has a strong track record of delivering high-quality residential and commercial projects.
Puravankara is a reputed real estate developer with a legacy of over three decades. The company has a strong presence in Bengaluru and Mumbai, and is known for its high-quality residential and commercial projects.
Frequently Asked Questions
Where is Puravankara's latest land acquisition located?
Hebbagodi, Bengaluru
What is the saleable area of the project?
Around 7.5 lakh sq ft
What is the potential gross development value of the project?
Over Rs 900 crore
What is the total GDV of the acquisitions in Mumbai?
Rs. 5,500 crore
What is the focus of Puravankara's business development strategy?
Replenishing the land bank to drive future growth
Related News Articles
Over 50,000 Real Estate Disputes Linger in Consumer Courts, Reveals Government Data
Government data reveals a staggering number of real estate disputes pending in consumer courts, affecting thousands of homebuyers and developers alike.
Mumbai's Sky-High Rental Prices: A 1BHK Costs Over Rs 43,150 a Month, Sparking Brain Drain Concerns
Niranjan Hiranandani, a notable real estate developer, has highlighted the soaring rental rates in Mumbai, where a 1BHK apartment averages Rs 43,167 per month. This high cost is nearly 50% of the average annual salary for junior-level employees and may le
Careless Smoking Triggers Devastating Fire in Dindoshi Hills
Environmentalists have raised concerns over the recent fire in Dindoshi hills, attributing it to careless smoking habits. They believe this is part of a broader trend aimed at clearing forest land for real estate development.
Only 70 Lakh Women Among 7.1 Crore Workers in Indian Real Estate: Report
A recent report highlights the stark gender disparity in the Indian real estate sector, where women make up just a fraction of the workforce. This article delves into the details of the report and explores the challenges and opportunities for gender equal
Maharashtra Government to Seize Properties of Developers Over Unpaid MHADA Dues
Mumbai: In a significant move to recover Rs 172 crore in unpaid dues, the Maharashtra government plans to seize the properties of developers who have failed to settle their obligations with the Maharashtra Housing and Area Development Authority (MHADA).
MHADA Takes Action to Recover Rs 172 Crore Dues from Defaulter Developers
In a significant move, the Mumbai Metropolitan Region Development Authority (MHADA) has initiated legal action to seize properties of defaulter developers to recover Rs 172 crore in outstanding dues. This action comes after the developers failed to clear