Press Release13 Sept 2024, 12:28 am
Puravankara Expands its Redevelopment Portfolio in Mumbai's Uber-Luxury South Mumbai Market
AI Summary
Puravankara Ltd has acquired the redevelopment rights of Miami Apartments at Breach Candy, South Mumbai, marking its entry into the prestigious and high-end real estate market. The project spans over ~2,000 sq m of land with estimated rates of Rs 1,25,000 to Rs 1,40,000 per sq. ft. In addition, Puravankara has extended its footprint in Lokhandwala, Andheri West, and signed a Joint Development Agreement (JDA) for a 1.95-acre land parcel in Bengaluru's Electronics City micro-market.
Key Highlights
- Puravankara acquires redevelopment rights of Miami Apartments at Breach Candy, South Mumbai
- Entry into uber-luxury South Mumbai market with an estimated rate of Rs 1,25,000 to Rs 1,40,000 per sq. ft
- Extension of footprint in Lokhandwala, Andheri West with an overall land area of around 4.3 acres
- Signing of Joint Development Agreement (JDA) for a 1.95-acre land parcel in Bengaluru's Electronics City micro-market
- Puravankara's growing role in Mumbai's real estate transformation and commitment to design excellence, transparency, and adherence to timelines