Real estate developer Purvankara Ltd. said its wholly-owned subsidiary Purva Oak Private Ltd. has acquired 12.75 acre of land in Thane near Mumbai for an unspecified amount.
“The land has an estimated potential carpet area of 18.20 lakh sq. ft. and a potential Gross Development Value (GDV) of ₹4,000 crore over the project lifecycle,” the company said in a statement. Ashish Puravankara, Managing Director, Puravankara Ltd, said, “This strategic expansion in Thane is in addition to our recent announcements of redevelopment projects in Pali Hill and Lokhandwala. We have added over ₹7,500 crore of GDV to our Mumbai Metropolitan Region (MMR) portfolio between these three acquisitions.”
The company will build a high-end, mixed-use residential project at the site and would open bookings during the upcoming festive season.
Published - June 01, 2024 10:00 pm IST
