Puravankara plans Rs 480-cr project in Pune

In view of the emerging future business avenues in the property segment of the region, Puravankara Projects, a renowned property builder of the country has decided to develop a residential project on an area of 20 acres at Mundhwa in Pune, said official sources, claiming that the Bangalore-based developer had entered into a joint venture with Ekta World and Oxford Group to develop 30 acre land parcel, which was jointly owned by Ekta World and Oxford Group and Puravankara later joined them as an execution partner and out of the total area Purva Silversands will be developing 20 acres. Commenting on the development, Managing Director, Puravankara Projects, Ashish Puravankara, said that after entering the this region it is continuously evaluating opportunities to increase its footprints and that the first phase of the project in question spread over 20 acres is expected to have potential of 1.5 million sq ft saleable space and revenue is estimated to be around Rs 1,000cr.