Puravankara Secures High-Value Redevelopment Project in Malabar Hill, South Mumbai
Puravankara, a leading real estate developer, has secured the rights for a major redevelopment project in South Mumbai's Malabar Hill, a prime location known for its premium housing. This Rs 2,700 crore project will add significant value to the company's portfolio and further solidify its presence in Mumbai's most expensive property market.
Real EstatePuravankaraMalabar HillRedevelopmentMumbaiReal EstateSep 02, 2025
With its location, scale, and luxury positioning, this project is in perfect alignment with our strategy of expanding into key strategic markets across the city,” said Ashish Puravankara, Managing Director, Puravankara. This is one of the largest redevelopment projects being initiated in South Mumbai, the country’s most expensive property market. It follows Puravankara’s previous acquisitions of rights for redevelopment projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala localities.
The listed company was also recently selected as the preferred developer for the redevelopment of a total of eight residential societies in Mumbai’s eastern suburb Chembur. With a development potential of over 1.2 million sq ft, this project in Chembur is estimated to hold a gross development value of Rs 2,100 crores.
“The addition of Malabar Hill further strengthens our Mumbai portfolio. This is our second major redevelopment in South Mumbai. With this acquisition, our redevelopment portfolio in Mumbai now stands at 4.25 million sq ft, with a potential GDV of Rs 10,500 crores,” said Rajat Rastogi, CEO - West & Commercial Assets, Puravankara Limited.
Over the last two years, Puravankara has built a significant redevelopment pipeline with projects in Mumbai. An increasing number of real estate developers from outside Mumbai are turning their focus to the country’s biggest and most expensive property market, drawn by sustained demand and the long-term potential of redevelopment-led activity.
With limited land parcels and elevated pricing levels, developers from regions such as Bengaluru, Delhi NCR, and Pune are looking to establish a presence in India’s most complex property market. Mumbai’s housing market continues to witness robust performance in registrations and high-value transactions across key micro-markets, prompting outside players to explore opportunities here.
Frequently Asked Questions
What is the total value of the Malabar Hill redevelopment project?
The Malabar Hill redevelopment project is valued at Rs 2,700 crores.
How much land does the housing society in Malabar Hill cover?
The housing society in Malabar Hill covers 1.43 acres of land.
What is the development potential of the Malabar Hill project?
The development potential of the Malabar Hill project is 7 lakh sq ft.
Which other localities in Mumbai has Puravankara secured redevelopment projects in?
Puravankara has secured redevelopment projects in Mumbai’s Breach Candy, Pali Hill, Lokhandwala, and Chembur localities.
What is the total redevelopment portfolio of Puravankara in Mumbai?
Puravankara’s redevelopment portfolio in Mumbai now stands at 4.25 million sq ft with a potential GDV of Rs 10,500 crores.
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