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Bengaluru : Puravankara Group (NSE: PURVA | BSE: 532891),
one of India’s most trusted and admired real estate developers, has announced
the joint development of a 5.5-acre land parcel in East Bengaluru, with a
combined estimated gross development value (GDV) of over Rs 1,000 crores. The
acquisition aligns with the company’s strategic vision to expand its footprint
in key Bengaluru micro-markets with robust infrastructure, excellent
connectivity, and sustained residential demand.
The land parcel offers a total combined saleable area of 0.83 million
square feet. Located in Balagere, East Bengaluru, the site enjoys strong and
steady market demand due to its proximity to major IT hubs and well-established
social and physical infrastructure. The project is expected to be launched in
the next six to nine months.
Commenting on the development, Ashish Puravankara, Managing
Director, Puravankara Limited, said, “This joint development
underscores our sustained growth strategy and reaffirms our confidence in East
Bengaluru, one of the city’s most dynamic and promising micro-markets. The
scale and location of this project are ideal for an ultra-luxury offering
tailored for individuals seeking a refined lifestyle that mirrors their
success. It aligns with our broader vision of creating high-quality,
community-focused housing across Bengaluru’s emerging corridors.”
Mallanna Sasalu, CEO – South, Puravankara Limited, added, “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. The micro-market has demonstrated steady
sales and rental demand, reduced market risk and supports faster inventory
take-off. We expect to bring the project to market in the next 6-9 months and
are confident it will be a strong addition to our expanding portfolio.”
Earlier this year, the company acquired a 3.63-acre land parcel in
Kanakapura Road, Bengaluru, with an estimated GDV of Rs 700+ crores. It also
announced a joint venture with KVN Property Holdings LLP to develop a
24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300
crore.