Now Reading: Puravankara to develop 7.83-acre Bengaluru land parcel
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Puravankara to develop 7.83-acre Bengaluru land parcel
Puravankara has signed a joint development agreement for a 7.83-acre land parcel in southeast Bengaluru. The residential project is expected to have a gross development value of Rs 1,100 crore and a…
Puravankara has signed a joint development agreement for a 7.83-acre land parcel in southeast Bengaluru. The residential project is expected to have a gross development value of Rs 1,100 crore and a saleable area of about 0.89 million sq ft.
CEO-South Mallanna Sasalu said the site offers nearly one million sq ft of saleable area in an established residential corridor. The company has added five land parcels in Bengaluru this fiscal, taking its cumulative FY27 business development to roughly 49.76 acres with a potential GDV of about Rs 6,300 crore and 5.12 million sq ft of saleable area.
Earlier this fiscal, Puravankara signed JDAs for land in Sarjapur, Doddagubbi, and Sanna Ammanikere, and acquired a 14.57-acre plot in Mandur. The company continues to expand its residential footprint in and around Bengaluru.
Indian Opinion Analysis
Puravankara's latest JDA marks its fifth land addition in Bengaluru this fiscal, underscoring a concentrated bet on the city's southern and eastern residential corridors. Under the RERA framework, JDAs require clear title and project registration before any sale. The combined GDV of Rs 6,300 crore across these five parcels signals the company's medium-term revenue pipeline. The next milestone to watch is the receipt of RERA approval for the new project, which would allow it to launch sales.
Source: realty.economictimes.indiatimes.com
This brief was synthesised by AI from the source linked above.
