Puravankara Secures Major Redevelopment Project in Mumbai’s Prestigious Malabar Hill
Puravankara, a leading real estate developer, has secured the redevelopment rights for a housing society in Mumbai’s Malabar Hill, adding seven lakh square feet of development potential with a Gross Development Value (GDV) of Rs 2,700 crore.
Real EstateRedevelopmentMalabar HillPuravankaraLuxury HousingReal Estate MumbaiSep 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. The project marks one of the largest redevelopment initiatives in South Mumbai, strengthening Puravankara’s city portfolio to 4.25 million sq ft with a potential gross development value (GDV) of Rs 10,500 crores.
The company has previously acquired redevelopment rights in Breach Candy, Pali Hill, Lokhandwala, and is the preferred developer for eight societies in Chembur, with over 1.2 million sq. ft. and an estimated GDV of Rs 2,100 crores. Redevelopment-led opportunities reflect strong demand and growth potential in India’s most expensive real estate market.
Puravankara’s strategic focus on high-potential redevelopment projects in prime locations is a testament to the company’s commitment to delivering premium real estate solutions. Malabar Hill, known for its luxurious and high-end properties, is a prime location that attracts both local and international investors. The project is expected to set new benchmarks in luxury living and urban redevelopment in Mumbai.
The acquisition of this project not only enhances Puravankara’s market presence but also underscores the company’s expertise in navigating complex redevelopment projects. With a track record of successful developments in various parts of Mumbai, Puravankara is well-positioned to capitalize on the growing demand for luxury housing in the city. The project in Malabar Hill is expected to be a key contributor to the company’s growth and profitability in the coming years.
In conclusion, Puravankara’s latest acquisition in Malabar Hill is a significant milestone in the company’s expansion strategy. It not only adds substantial value to their portfolio but also reinforces their position as a leading player in the luxury real estate market in Mumbai. The project is poised to become a landmark development, offering residents a unique blend of luxury, convenience, and modern living in one of the most prestigious neighborhoods in the city.
Frequently Asked Questions
What is the significance of the Malabar Hill project for Puravankara?
The Malabar Hill project is significant for Puravankara as it adds seven lakh sq. ft. of development potential with a GDV of Rs 2,700 crore, strengthening their city portfolio to 4.25 million sq ft and a GDV of Rs 10,500 crores. It aligns with their strategy of expanding into key strategic markets in Mumbai.
What other areas has Puravankara acquired redevelopment rights in?
Puravankara has acquired redevelopment rights in Breach Candy, Pali Hill, Lokhandwala, and is the preferred developer for eight societies in Chembur, with over 1.2 million sq. ft. and an estimated GDV of Rs 2,100 crores.
Why is Malabar Hill considered a prime location for redevelopment?
Malabar Hill is considered a prime location for redevelopment due to its luxurious and high-end properties, strategic location, and strong demand in the real estate market. It attracts both local and international investors, making it an ideal area for high-value projects.
What is the estimated GDV of Puravankara's city portfolio after the Malabar Hill project?
After the Malabar Hill project, Puravankara's city portfolio is estimated to have a Gross Development Value (GDV) of Rs 10,500 crores, with a total development area of 4.25 million sq ft.
How does this project reflect Puravankara's expertise in redevelopment?
This project reflects Puravankara's expertise in redevelopment by showcasing their ability to navigate complex redevelopment projects in prime locations. Their track record of successful developments in various parts of Mumbai further reinforces their position as a leading player in the luxury real estate market.
Related News Articles
Boosting India's Housing Market: Developers Seek Tax Incentives and Industry Status in Budget 2024
The Indian housing sector is looking forward to the Union Budget 2024, expecting tax reliefs and other sentiment boosters to stimulate growth in the market.
Kalpataru Ltd Set to Enter Nagpur Real Estate Market with Plotted Development Project
Mumbai-based Kalpataru Ltd plans to launch a plotted development project in Nagpur, marking its entry into the city's real estate market. The project will be spread across 37 acres and will have 400 plots of sizes 1,200 to 4,000 sq ft range.
Hong Kong Halts Commercial Land Sales for Seventh Consecutive Quarter
Hong Kong's government has announced that it will not sell any commercial land in the quarter from October to December, citing low demand and high office vacancy rates.
Homebuyers Forum Claims RERA Act Falls Short of Objectives, Urges Consumer Affairs Ministry for Action
A forum representing homebuyers in Maharashtra claims that the Real Estate (Regulation and Development) Act, 2016, has failed to meet its objectives. The forum is now urging the Union Consumer Affairs Ministry to issue specific guidelines to protect consu
Ahmedabad Shines with Top Rental Yields in India
Ahmedabad leads the pack with the highest rental yields in India, clocking in at 3.9%, according to a recent report by Magicbricks. Other cities like Hyderabad, Kolkata, and Pune are also seeing significant increases in rental returns.
Incuspaze Expands with Major Leasing Deal in Gurugram's Thriving Real Estate Market
Incuspaze, a prominent player in the commercial real estate sector, has announced a significant leasing deal in Gurugram, marking a major expansion in one of India’s most booming real estate markets. This move underscores the growing demand for quality of