NEW DELHI: Puravankara has been chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai.
This project will unlock a total development potential of over 1.2 million sq ft across approximately four acres, with an estimated gross development value (GDV) of ₹2,100 crore.
Ashish Puravankara, Managing Director of the company, stated, “With 11 projects in Mumbai and Pune covering around 14 million sq ft—including 3.6 million sq ft in redevelopment—we are dedicated to expanding our presence in the western region. This area is projected to contribute a GDV of around ₹18,000 crore, with roughly ₹7,700 crore coming from redevelopment alone.”
This announcement comes after the company’s acquisitions of development rights for ongoing projects in Breach Candy, Pali Hill, and Lokhandwala.
