Puravankara to Develop Luxury Housing on 5.5-Acre Balagere Plot
Puravankara Group has signed a joint development agreement (JDA) for a 5.5-acre land parcel in Balagere, East Bengaluru, set to deliver a gross development value of over ₹1,000 crore.
Real EstatePuravankara GroupJdaLuxury HousingBengaluruReal Estate NewsJul 10, 2025
The project, once launched, is expected to deliver a gross development value of over ₹1,000 crore, making it a sizeable addition to the company’s luxury housing pipeline. The location offers a saleable area of around 0.83 million sq. ft., and sits close to some of the city’s largest IT hubs and social infrastructure.
The company said the project is likely to be launched within the next 6 to 9 months and will target homebuyers looking for ultra-premium residential options. The neighbourhood has seen steady demand from both end-users and investors, driven by connectivity and rental potential.
Speaking on the announcement, Ashish Puravankara, Managing Director at Puravankara Ltd., said the group is committed to deepening its presence in high-growth Bengaluru micro-markets. “This is a high-potential zone, and the scale of this project is perfectly suited for luxury development,” he said.
Mallanna Sasalu, CEO – South at the company, added that Balagere has emerged as a preferred residential pocket due to its proximity to major tech parks and supporting infrastructure. He also pointed out that executing the project under a JDA format helps conserve capital and accelerates sales momentum by reducing upfront risks.
Other Key Developments in Bengaluru
In a separate deal earlier this year, Puravankara acquired 3.63 acres on Kanakapura Road, with an estimated project GDV of over ₹700 crore.
The company also formed a joint venture with KVN Property Holdings LLP for a 24.59-acre residential project in North Bengaluru, targeting a GDV of around ₹3,300 crore.
With these additions, Puravankara continues to build out its presence in Bengaluru’s most active housing corridors, tapping into both mid-income and high-end residential demand.
Frequently Asked Questions
What is the size of the land parcel Puravankara has acquired in Balagere?
Puravankara has acquired a 5.5-acre land parcel in Balagere, East Bengaluru.
What is the expected gross development value of the project?
The project is expected to deliver a gross development value of over ₹1,000 crore.
When is the project expected to be launched?
The project is likely to be launched within the next 6 to 9 months.
Who is the Managing Director of Puravankara Ltd.?
Ashish Puravankara is the Managing Director of Puravankara Ltd.
What other significant projects has Puravankara recently undertaken in Bengaluru?
Puravankara has also acquired 3.63 acres on Kanakapura Road and formed a joint venture with KVN Property Holdings LLP for a 24.59-acre residential project in North Bengaluru.
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