Curation Team
NEW DELHI: Puravankara has been selected as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai.
This will unlock total development potential of over 1.2 million sq ft, spread over approximately four acres, with an estimated gross development value (GDV) of ₹2,100 crore.
Ashish Puravankara, managing director of the company said, “Now with 11 projects across Mumbai and Pune, spanning approximately 14 million sq ft, including 3.6 million sq ft in redevelopment, we are committed to strengthening our footprint in the western region. The region is expected to contribute a GDV of approximately ₹18,000 crore, of which approximately ₹7,700 crore will come from redevelopment alone.”
This announcement follows the company’s previous acquisitions of development rights for redevelopment projects in Breach Candy, Pali Hill, and Lokhandwala.
