Puravankara Launches Mega Residential Projects in Major Indian Cities

Bengaluru-based real estate developer Puravankara is gearing up to launch an ambitious 12–13 million sq. ft. of residential projects across major cities, including Bengaluru, Mumbai, Kochi, and Coimbatore. The projects will feature a mix of high-rise apartments, gated communities, and smaller townships, catering to a wide range of homebuyers with properties priced between Rs 1.4 crore and Rs 13 crore.

In Bengaluru, the premium segment for residential properties is now firmly in the Rs one to two crore range, while mid-segment homes are priced between Rs 70 lakh and Rs 1.2 crore. Puravankara expects its launch pipeline to reach a robust Rs 13,000 crore this financial year, with Bengaluru accounting for the largest share at eight million sq. ft., followed by Kochi, Coimbatore, and Mumbai.

In Mumbai, the focus is on marquee redevelopment projects, which are expected to drive significant interest among high-net-worth individuals. Average prices are anticipated to rise, with ultra-luxury homes in both Bengaluru and Mumbai surpassing Rs 11 crore. Despite the absence of new launches so far this financial year due to regulatory delays, the company has managed to record nearly Rs 3,859 crore in pre-sales from ongoing projects. With approvals now improving, Puravankara is poised for a strong revival in launches.

Puravankara's strategic approach to diversifying its project portfolio across different cities and price segments is a testament to its commitment to meeting the evolving needs of homebuyers. The company's focus on high-quality construction and modern amenities is expected to further enhance its market position and attract a broader customer base.

The launch of these projects is expected to not only boost the local real estate market but also contribute to the overall economic growth of these cities. Puravankara's commitment to sustainable development and customer satisfaction is likely to set a new benchmark in the industry.