NEW DELHI: Puravankara Group has commenced a joint development project on a four-acre land parcel located on Hennur Road in Bengaluru, with a projected gross development value (GDV) exceeding ₹1,300 crore.
Ashish Puravankara, the company’s managing director, stated, “This joint venture is in line with our strategy of leveraging asset-light partnerships in high-potential micro-markets, while providing thoughtfully designed homes that meet the needs of modern urban living.”
The land parcel offers a total saleable area of approximately 0.84 million sq ft, and the company anticipates launching it in the next six to twelve months.
Earlier this year, Puravankara announced several acquisitions, including a 53.5-acre plot in Anekal Taluka, which has a potential development size of 6.4 million sq ft and an estimated GDV of over ₹4,800 crore.
Additionally, the company is developing a 24.59-acre site at KIADB Hardware Park in North Bengaluru, in collaboration with KVN Property Holdings LLP, with a potential development of 3.48 million sq ft and a GDV of over ₹3,300 crore.
Moreover, it has initiated a 5.5-acre joint development project in Balagere, East Bengaluru, with a developable area of 0.85 million sq ft, having a GDV of over ₹1,000 crore.
