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Puravankara secures redevelopment rights for 2 housing societies in Mumbai

16 Nov 2023 Evaluate

Puravankara has secured the residential redevelopment rights for two housing societies in the western suburbs of Mumbai. This acquisition is a significant milestone in Puravankara’s expansion journey and marks its entry into the redevelopment space in the western region.

Situated in the heart of Lokhandwala in Andheri West, the project is spread over 3 acres. It has a cumulative estimated development potential of 5.8 lakh square feet carpet area, with approximately 3.65 lakh square feet available for sale and a potential gross development value (GDV) of Rs 1,500 crore over the project’s lifecycle.

Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune.


Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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