Puravankara Ventures into South Mumbai's Luxury Market with Redevelopment Project
Puravankara has acquired the redevelopment rights of Miami Apartments at Breach Candy, marking its entry into the uber-luxury South Mumbai market.
PuravankaraSouth MumbaiLuxury MarketRedevelopment ProjectReal EstateReal Estate NewsSep 12, 2024
The company has also expanded its presence in Lokhandwala, Andheri West, where it previously acquired redevelopment rights for two societies on 3 acres of land in November 2023. It has now been chosen as the preferred developer for an additional 1.3 acres, forming a 4.3-acre project. Property rates in the area are estimated to be between Rs 40,000 and 45,000 per square foot.
Frequently Asked Questions
What is the location of the redevelopment project acquired by Puravankara?
The redevelopment project is located at Breach Candy in South Mumbai.
What is the approximate land area of the redevelopment project?
The redevelopment project is spread over approximately 2,000 square meters of land.
What is the estimated property rate in the area where the redevelopment project is located?
The estimated property rate in the area is between Rs 1,25,000 and Rs 1,40,000 per square foot.
What is the name of the company that has acquired the redevelopment rights of the project?
Puravankara Limited has acquired the redevelopment rights of the project.
What is the expected saleable area of the land parcel in Bengaluru's Electronics City micro-market?
The expected saleable area of the land parcel is 260,000 square feet.
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