Puravankara Ltd., a real estate developer, said it has secured the residential redevelopment rights for two housing societies in the western suburbs of Mumbai marking its entry into the redevelopment space in the western region.
Situated in the heart of Lokhandwala in Andheri West, the project is spread over 3 acres. It has a cumulative estimated development potential of 5.8 lakh square feet carpet area, with approximately 3.65 lakh square feet available for sale and a potential gross development value (GDV) of ₹1,500 crore over the project’s lifecycle.
Abhishek Kapoor, Group CEO of Puravankara Ltd in a statement , said, “This strategic move underscores our commitment to expanding our footprint in Mumbai’s thriving real estate market. We are committed to delivering high-quality, sustainable, and modern homes that meet the evolving needs of our customers.”
Rajat Rastogi, CEO - West & Commercial Assets-Pan India said, “Andheri- Lokhandwala has emerged as a prominent hotspot in Mumbai’s realty map due to several ongoing and upcoming infrastructure projects. With our customer-focused approach and expertise in delivery excellence, this redevelopment project will be a marquee project.”
Published - November 16, 2023 10:10 pm IST
