Puravankara Secures Major Redevelopment Projects in Mumbai, Estimated GDV of Rs 2,100 Crore
Puravankara Limited, a leading real estate developer, has been chosen to redevelop eight residential societies in Chembur, Mumbai. This project, with an estimated gross development value (GDV) of Rs 2,100 crore, marks a significant milestone for the company's growing footprint in the redevelopment segment.
PuravankaraReal EstateRedevelopmentMumbaiChemburReal EstateJul 07, 2025
This announcement follows Puravankara’s previous acquisitions of development rights for prestigious redevelopment projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala. These strategic wins reflect Puravankara’s growing footprint in the redevelopment segment in the west region, underscoring its commitment to revitalising urban spaces with quality and integrity.
Commenting on the strategic announcement, Ashish Puravankara, Managing Director, Puravankara Limited, said, “Securing marquee redevelopment projects in highly sought-after Mumbai neighbourhoods such as Breach Candy, Pali Hill, Lokhandwala, and now Chembur is a strong validation of the trust, discerning societies and residents place in the Puravankara brand. What distinguishes us is not just our vision, but also our design-led approach and unwavering focus on quality. Now with 11 projects across Mumbai and Pune, spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment, we are committed to strengthening our footprint in the western region. The region is expected to contribute a GDV of approximately Rs 18,000 crore, of which approximately Rs 7,700 crore will come from redevelopment alone.”
Rajat Rastogi, CEO-West and Commercial Assets, Puravankara Limited, added, “We are honoured to be selected as the developer to redevelop eight societies in Chembur. After receiving a phenomenal response for our existing project in Chembur (Purva Clermont), our expansion in this micro-market will strengthen our footprint further. As we celebrate our Golden Jubilee year, this achievement not only reinforces our position as a trusted partner in the redevelopment space but also strengthens our presence in Mumbai’s vibrant and competitive real estate market. We remain committed to driving innovation and delivering value to all stakeholders, residents, partners, and the communities we serve.”
Puravankara’s continued success and strong pipeline in the redevelopment space reflect its strong execution capabilities, customer-centric approach, and deep expertise in navigating complex urban projects. As the company celebrates 50 years of operations, it remains committed to shaping the future of urban living through sustainable, well-designed, and community-focused developments.
Frequently Asked Questions
What is the estimated gross development value (GDV) of the Chembur redevelopment project?
The estimated gross development value (GDV) of the Chembur redevelopment project is Rs 2,100 crore.
How many residential societies is Puravankara redeveloping in Chembur?
Puravankara is redeveloping eight residential societies in Chembur, Mumbai.
What are some other areas in Mumbai where Puravankara has secured redevelopment projects?
Puravankara has secured redevelopment projects in Breach Candy, Pali Hill, and Lokhandwala in Mumbai.
How many projects does Puravankara have across Mumbai and Pune?
Puravankara has 11 projects across Mumbai and Pune, spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment.
What is the expected contribution of the western region to Puravankara's GDV?
The western region is expected to contribute a GDV of approximately Rs 18,000 crore, with Rs 7,700 crore coming from redevelopment projects.
Related News Articles
Hardik Pandya's Net Worth: A Closer Look at His Wealth and Assets
From his lucrative IPL contracts to his impressive real estate portfolio
Boosting Realty Affordability: Experts Call for Policy Shifts and Infra Improvements
Industry experts emphasize the need for policy changes and infrastructure development to address affordability issues in the real estate market.
Pune's Real Estate Empire: Minor's Father in Custody Over Cheating Case
A Pune court has allowed the police to take custody of the father of the minor accused in the Porsche crash case, in a cheating case registered against him at Kondhwa police station.
Revolutionizing Traffic Management: Pune Police, PMC, and Google Collaborate to Improve Road Infrastructure
Pune takes a significant step towards reducing traffic congestion and travel time with the collaboration of Pune Police, PMC, and Google on 32 main roads.
New Developments in Rs 100 Crore Real Estate Investment Fraud
Prospect Realty, a firm registered before the sub-registrar of Salcete, Margao, is at the center of a massive Rs 100 crore investment fraud. The firm, engaged in the real estate business, has been accused of misleading investors with false promises. Myron
Maharashtra Government to Mandate Precast Construction for Mumbai Real Estate
The Maharashtra government is working on a policy to make precast construction mandatory for real estate projects in Mumbai, aiming to streamline construction processes and enhance building quality.