Puravankara Signs Joint Development Agreement for 5.5-Acre Project in East Bengaluru
Puravankara Group has entered into a Joint Development Agreement (JDA) for a 5.5-acre land parcel in Balagere, East Bengaluru, with a Gross Development Value (GDV) exceeding ₹1,000 crore. The project is expected to offer a saleable area of 0.83 million sq ft.
Real EstateBengaluruPuravankaraJoint DevelopmentLuxury HousingReal EstateJul 10, 2025
Located in Balagere, the project is strategically positioned to capitalize on the growing demand in East Bengaluru. This micro-market has emerged as a hotspot for premium and mid-segment housing, supported by strong infrastructure and residential traction. The area is close to major IT corridors and boasts well-developed physical and social infrastructure, making it an attractive location for both residential and commercial developments.
Ashish Puravankara, Managing Director of Puravankara Limited, commented, “This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city’s most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru’s emerging corridors.”
The move is part of the company’s continued strategy to scale up in high-demand Bengaluru micro-markets that offer strong infrastructure and residential traction. Balagere has emerged as a hotspot for premium and mid-segment housing, demonstrating steady sales and rental demand, reduced market risk, and faster inventory take-off.
Mallanna Sasalu, CEO of South, Puravankara Limited, added, “The micro-market has demonstrated steady sales and rental demand, reduced market risk, and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio.”
In May, the company announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru with an estimated gross development value of ₹3,300 crore. The land parcel has a total saleable area of approximately 3.48 million sq ft, and the project is expected to be launched by November-December. Earlier this year, Puravankara acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of over ₹700 crores. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of ₹3,300 crore.
Puravankara Group’s strategic acquisitions and joint ventures reflect its commitment to expanding its footprint in key real estate markets and delivering high-quality, community-focused housing solutions. The company’s focus on premium and ultra-luxury offerings in emerging corridors aligns with the growing demand for refined living spaces in Bengaluru.
Frequently Asked Questions
What is the size of the land parcel Puravankara Group has acquired in East Bengaluru?
Puravankara Group has acquired a 5.5-acre land parcel in Balagere, East Bengaluru.
What is the estimated Gross Development Value (GDV) of the project?
The estimated Gross Development Value (GDV) of the project is over ₹1,000 crore.
What is the expected saleable area of the project?
The project is expected to offer a saleable area of 0.83 million sq ft.
When is the project expected to be launched?
The project is expected to be launched in the next 6-9 months.
What other significant projects has Puravankara Group announced recently?
Puravankara Group has also announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru with an estimated GDV of ₹3,300 crore, and the acquisition of a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of over ₹700 crores.
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