Puravankara’s ₹2,100 Cr Mumbai Makeover: 8 Societies, One Mega Redevelopment Vision

Puravankara Ltd, the Bengaluru-based real estate major, has announced a landmark cluster redevelopment project in Mumbai, securing rights to redevelop eight housing societies with a Gross Development Value (GDV) of ₹2,100 crore. This marks one of the company’s most ambitious forays into the Mumbai Metropolitan Region (MMR), reinforcing its strategy to expand in high-value urban micro-markets.

 

The project spans over 4.3 acres across Andheri West and Breach Candy, two of Mumbai’s most sought-after residential zones. The redevelopment will unlock significant saleable area, with market rates in these micro-markets ranging between ₹40,000–₹1,40,000 per sq. ft, depending on location and segment.

 

Puravankara’s CEO for West & Commercial Assets, Rajat Rastogi, emphasized that this move aligns with the company’s vision to redefine luxury living and strengthen its presence in South and West Mumbai. The company is also in advanced talks for 3–4 more society redevelopments in the city.

 

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Source: Business Standard – Puravankara Expands Redevelopment Portfolio in Mumbai | Housing.com – Puravankara Bags 8-Society Redevelopment