New Launch1 Sept 2025, 05:42 pm
Puravankara's Wholly-Owned Subsidiary Secures Malabar Hill Redevelopment Project with GDV Potential of ~ Rs 2,700 crores
AI Summary
Puravankara Limited, a trusted real estate developer, has acquired redevelopment rights for a prime residential society in Malabar Hill, Mumbai, through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd. The 1.43-acre project offers a development potential of 0.7 million square feet, providing new, premium homes for existing residents while also creating a substantial portion for sale. The project, with an estimated revenue potential of Rs 2,700 crores, is expected to redefine luxury in the city.
Key Highlights
- Puravankara Limited has secured redevelopment rights for a prime residential society in Malabar Hill, Mumbai.
- The project has a development potential of 0.7 million square feet and an estimated revenue potential of Rs 2,700 crores.
- The project is expected to create new, premium homes for existing residents and also generate a substantial portion for sale.
- This acquisition marks Puravankara's second major redevelopment in South Mumbai.
- Puravankara's redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of Rs 10,500 crores.