Puravankara's Chembur Transformation: Building Future Homes

Puravankara Ltd., a leading realty firm, plans to redevelop eight housing societies in Chembur, Mumbai, unlocking a development potential of over 12 lakh square feet with an estimated GDV of Rs 2,100 crore. This initiative is part of the company's strategy to boost its presence in West India.

Puravankara Ltd, an established realty enterprise, is poised to transform the real estate landscape in Chembur, Mumbai, through the redevelopment of eight housing societies. The project is anticipated to yield a substantial revenue of Rs 2,100 crore from saleable areas.

The Bengaluru-based company, as per their regulatory filing on Monday, has been designated for the redevelopment, unlocking a development potential of over 12 lakh square feet across 4 acres, with an impressive estimated gross development value.

Managing Director Ashish Puravankara emphasized the firm's focus on reinforcing its presence in the Mumbai Metropolitan Region and Pune markets, with the West region projected to contribute significantly to the company's growth, particularly through redevelopment ventures.

(With inputs from agencies.)