Puravankara Expands in East Bengaluru with Rs 1,000 Crore Development

Puravankara Group, a renowned name in India's real estate sector, revealed plans for a joint development on a substantial 5.5-acre plot in East Bengaluru. The project, with a gross development value exceeding Rs 1,000 crores, aligns with the company's strategic ambitions to cement its presence in key, burgeoning micro-markets of Bengaluru.

Situated in Balagere, the new development is ideally located near major IT hubs, promising a combined saleable area of 0.83 million square feet. This locale is noted for its established infrastructure and steady market demand, making it attractive for both sales and rentals. The project is slated for a launch within the next six to nine months.

Commenting on the endeavor, Ashish Puravankara emphasized that this development is a testament to the group's growth strategy. He highlighted the project's perfect alignment with Puravankara's ethos of crafting high-quality, leader-centric residential spaces across the city's promising locales. Mallanna Sasalu, CEO - South, noted Balagere's potential as a residential hotbed, supported by its proximity to IT hubs, which mitigates risks and aids rapid market absorption.

(With inputs from agencies.)