Puravankara pushes ₹450-cr realty project in Mumbai

Puravankara
Bengaluru-based realty player Puravankara has planned to invest ₹450 crore in the residential-cum-commercial luxury project in Mumbai's Chembur suburb. Chief Operating Officer, Abhishek Kapoor, informed that the project will have four towers housing 233 residential units with 2-,3- and 4-BHKs and one tower of 79 commercial units on a 2.25-acre land parcel owned by the company. The company is ready to start the construction of the project. It has already launched two luxury projects under its World Home Collection brand in Bengaluru and Chennai.

According to an Anarock report, post-pandemic nonresident Indians are scouting for luxury homes in the country, with the IT hubs Bengaluru and Pune witnessing the highest NRI demand. The last few months have witnessed a steady growth in the luxury housing segment, which is indicative of a shift in post-pandemic consumer behaviour. Leveraging this shift and latent demand, Puravankara believes this is the right time to bring their ultra-luxury World Home Collection homes to Mumbai.
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