Realty giant 'Puravankara' buys 3 acres of land for Rs. 700 crores in South Bengaluru

Developer Puravankara, situated in Bengaluru, announced on January 9 that it had purchased a 3.63-acre plot of land on Kanakapura Road in Bengaluru, with a gross development value exceeding Rs. 700 crores. It is 5.42 lakh sq ft in saleable area.

The land parcel benefits from easy access to major areas of the city via both road and metro connections to its prime location on Kanakapura Road. It is situated on Namma Metro's Green Line, one kilometer from Thalaghattapura Metro Station. Nagar, J.P.

Group CEO Abhishek Kapoor previously stated to HT.com that Puravankara wants to expand its land bank in order to reach 45 million square feet overall by 2026.

“This carefully chosen piece of property is in a micromarket with strong demand and little land available for construction. Its well-established infrastructure and good connectivity make it a prime location for upscale residential development. In order to replenish our land bank in key areas with favorable demand-supply conditions, our focus will remain on business development,” according to Ashish Puravankara, Managing Director of Puravankara.

The company's future priorities will continue to center on expanding its footprint in the Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune, and Mumbai Metropolitan Region. According to Kapoor, Puravankara's focus in Mumbai will remain on redevelopment projects.

About 30 minutes’ drive from Electronic City, the IT hub of south Bengaluru, Kanakapura Road is a well-known thoroughfare that links important neighborhoods and reaches the edge of the city. Information technology firms Tech Mahindra, Wipro, and Infosys have offices on Kanakapura Road.