Bengaluru-based Puravankara Limited announced on Saturday that it has acquired 12.75 acres of land in Patlipada, situated on Ghodbunder Road in Thane, through its subsidiary, Purva Oak Private Limited. This acquisition is projected to yield a carpet area of 18.20 lakh sq ft and generate a Gross Development Value (GDV) of Rs 4,000 crore over the project’s lifecycle.
Ashish Puravankara, Managing Director of Puravankara Limited, commented, “This strategic expansion in Thane complements our recent redevelopment projects in Pali Hill and Lokhandwala. Collectively, these three acquisitions have enhanced our MMR portfolio with an additional GDV of over Rs 7,500 crore.”
In November 2023, Puravankara secured rights for the redevelopment of two housing societies in the Lokhandwala area of Andheri West, covering 3 acres. This project offers a development potential of 5.8 lakh sq ft carpet area and an estimated GDV of Rs 1,500 crore. Furthermore, in April 2024, the company was selected as the ‘preferred developer’ for a 2.5-acre redevelopment project in Pali Hills, which has a development potential of 4.10 lakh sq ft carpet area and an estimated GDV exceeding Rs 2,000 crore.
Source : Times of India
