One of the most trusted and esteemed Real estate developers in India, Puravankara Limited has publicized that the company purchased a 12.75 acres of land in Patlipada on Ghodbunder Road, Thane through its fully-owned associate company, Purva Oak Private Limited.
The purchased land has a projected potential carpet area of 18.20 lakh sq ft and a possible GDV – Gross development value of Rs. 4,000 crores over the total lifecycle of the project.
In the month of November 2023, the real estate company gained the rights to start the revamping project of two housing societies spanning over 3 acres in the Lokhandwala area of Andheri West.
The project holds a growth potential of 5.5 lakh square feet carpet area and a potential Gross Development Value of Rs. 1,500 crore.
In the month of April 2024, the realty company was chosen as a ‘preferred developer’ for a 2.5 acre redevelopment project in Pali Hills with a growth potential of 4.10 lakh square feet carpet area and possible GDV of more than 2,000 crores.
Expressing to this strategic advancement in Business, Ashish Puravankara, Managing Director, Puravankara Limited says, "We are thrilled to announce the acquisition of a prime 12.75-acre land parcel in Thane, further solidifying our commitment to MMR’s sustainable and dynamic real estate market. This strategic expansion in Thane is in addition to our recent announcements of redevelopment projects in Pali Hill and Lokhandwala. We have added over Rs 7,500 crores of GDV to our MMR portfolio between these three acquisitions. Our continued investment in MMR reflects our vision to deliver international quality homes with trust and transparency."
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