Puravankara's Rs 1,000 Crore Housing Project in East Bengaluru: A Strategic Move in Balagere
Puravankara Group has entered into a joint development agreement (JDA) for a 5.5-acre land parcel in Balagere, East Bengaluru, with an estimated gross development value (GDV) of over Rs 1,000 crore. The project, expected to launch in 6-9 months, underscores the company's confidence in the high-potential residential micro-market of Balagere.
PuravankaraBengaluruHousing ProjectReal EstateBalagereReal Estate NewsJul 10, 2025
The project is expected to offer a total combined saleable area of 0.83 million square feet. According to Ashish Puravankara, Managing Director of Puravankara, this joint development is a testament to the company's sustained growth strategy and its confidence in East Bengaluru, one of the city's most dynamic and promising areas.
Mallanna Sasalu, CEO - South, Puravankara Ltd, highlighted the strategic importance of Balagere. He stated, 'Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth.'
Puravankara's strategic move in Balagere is not an isolated event. Earlier this year, the company acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of Rs 700 crore. Additionally, Puravankara announced a joint venture with KVN Properties to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300 crore. These acquisitions and partnerships demonstrate the company's commitment to expanding its footprint in Bengaluru and other key markets.
Puravankara has a strong track record of successful projects across multiple cities. The company has completed over 90 projects, covering 53 million square feet in cities such as Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. With a total land bank of 25 million square feet and ongoing projects adding up to 37 million square feet, Puravankara is well-positioned to continue its growth trajectory.
The Balagere project is expected to launch within the next 6-9 months, further solidifying Puravankara's presence in the East Bengaluru market. The company's focus on high-potential micro-markets like Balagere aligns with its strategy to capitalize on emerging residential and commercial opportunities in the region.
Frequently Asked Questions
What is the estimated value of the new housing project in Balagere?
The estimated gross development value (GDV) of the new housing project in Balagere is over Rs 1,000 crore.
When is the Balagere project expected to launch?
The Balagere project is expected to launch in the next 6-9 months.
Why is Balagere considered a high-potential residential micro-market?
Balagere is considered a high-potential residential micro-market due to its proximity to key IT hubs and well-established infrastructure.
What other significant projects has Puravankara recently undertaken in Bengaluru?
Puravankara has recently acquired a 3.63-acre land parcel in Kanakapura Road with an estimated GDV of Rs 700 crore and entered a joint venture with KVN Properties to develop a 24.59-acre land parcel in North Bengaluru with a potential GDV of Rs 3,300 crore.
How many projects has Puravankara completed, and in which cities?
Puravankara has completed over 90 projects covering 53 million square feet in cities such as Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.
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