Puravankara Secures Redevelopment Rights For 2 Housing Societies In Mumbai

New Delhi: Puravankara Limited, has secured the residential redevelopment rights for two housing societies in the western suburbs of Mumbai. 

Situated n Andheri West, the project is spread over 3 acres. It has a cumulative estimated development potential of 5.8 lakh square feet carpet area, with approximately 3.65 lakh square feet available for sale and a potential gross development value (GDV) of Rs 1,500 crore over the project’s lifecycle.

Commenting on the strategic advancement, Abhishek Kapoor, Group CEO of Puravankara Limited, said, “We are thrilled about this significant milestone as it marks our entry into the redevelopment segment. This strategic move also underscores our commitment to expanding our footprint in Mumbai’s thriving real estate market. At Puravankara, we are committed to delivering high-quality, sustainable, and modern homes that meet the evolving needs of our customers.”

Speaking on the transaction, Rajat Rastogi, CEO – West & Commercial Assets- Pan India said, “Andheri- Lokhandwala has emerged as a prominent hotspot in Mumbai’s realty map due to several ongoing and upcoming infrastructure projects. With Puravankara’s customer-focused approach and expertise in delivery excellence, this redevelopment project will be a marquee project. We look forward to bringing our expertise and experience to this development. Our team of experts will work closely with societies to ensure a smooth and seamless redevelopment process. We are committed to creating vibrant communities and curating exceptional living environments that residents will be proud to call home.”