Business Update1 Jun 2024, 06:59 pm
Puravankara Ltd Acquires 12.75-acre Land Parcel in Thane with Rs. 4,000 Crores Potential GDV
AI Summary
Puravankara Limited, a renowned real estate developer, has announced the acquisition of a 12.75-acre land parcel in Thane by its wholly-owned subsidiary, Purva Oak Pvt. Ltd. The land has an estimated potential carpet area of 18.20 lakh sq ft and a potential Gross Development Value (GDV) of Rs 4,000 crores. This strategic expansion in Thane is part of Puravankara's commitment to MMR’s sustainable and dynamic real estate market, adding over Rs 7,500 crores of GDV to its MMR portfolio. The company is focused on incorporating sustainable development across its projects, with a vision to deliver international quality homes with trust and transparency.
Key Highlights
- Puravankara Limited announces the acquisition of a 12.75-acre land parcel in Thane by its wholly-owned subsidiary, Purva Oak Pvt. Ltd.
- The land has an estimated potential carpet area of 18.20 lakh sq ft and a potential Gross Development Value (GDV) of Rs 4,000 crores.
- This strategic expansion in Thane adds over Rs 7,500 crores of GDV to Puravankara's MMR portfolio.
- The Thane project will be built with sustainable development principles in mind.
- The land parcel is strategically located in Patlipada on Ghodbunder Road, with upcoming metro line 4 and easy accessibility to South Mumbai.