Puravankara secures redevelopment rights for two Mumbai housing societies
Real estate developer Puravankara has acquired redevelopment rights for two housing societies spanning three acres in Mumbai's Andheri locality, marking its entry into western region redevelopment. The potential gross development value is Rs 1,500 crore. The combined land parcel has an estimated development potential of 5.8 lakh sq. ft. in carpet area, with around 3.65 lakh sq. ft. available for sale.
Puravankara's ongoing residential projects in Chembur, Mumbai, and Shil Phata area have a total development potential of over 1.5 million sq. ft., expected to be completed in the next two to four years. With the new development work, the total is set to exceed 2.1 million sq. ft.
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