Puravankara enters South Mumbai - Wins rights to develop Housing society

On September 12, Puravankara, a listed real estate developer located in Bengaluru, declared that it has obtained the right to reconstruct Miami Apartments at Breach Candy in South Mumbai.

The company also declared that it has inked a joint development agreement (JDA) for a 1.95-acre land piece at a premium position in Bengaluru's Electronics City and that it would be redeveloping four more societies in the Andheri neighborhood of Mumbai. According to the firm, this property parcel next to the Purva Westend project will have a 260,000 square foot saleable space.

Puravankara has increased its presence in the Lokhandwala neighborhood of Andheri, Mumbai, where it purchased redevelopment rights in November 2023. 

Speaking to this, Ashish Puravankara, MD, Puravankara Limited says, “Our entry into South Mumbai with the redevelopment of Miami Apartments at Breach Candy marks a significant milestone for Puravankara Ltd. This project showcases our commitment to delivering unparalleled luxury and reinforces our vision to create iconic living spaces in the most coveted locations. We are excited to bring our expertise to South Mumbai and redefine the standards of luxury living in this prestigious neighbourhood, while strengthening our presence in other markets”.

Rajat Rastogi, CEO - West and Commercial Assets, Puravankara Limited, “The addition of new redevelopment projects in Breach Candy and Andheri west further strengthens our portfolio in Mumbai and highlights our growing role in the city’s real estate transformation. Our commitment to design excellence, transparency and adherence to timelines underscore Puravankara’s position as a trusted partner for society redevelopment projects. We will continue to focus on the acquisition of marquee assets in MMR and Pune”.