New Delhi, Realty firm Purvankara Ltd on Tuesday said it has bagged a project to redevelop a housing society in Mumbai's Pali Hill with an expected revenue potential of over Rs 2,000 crore.
In a regulatory filing, Purvankara said it has been unanimously selected as the preferred developer for the redevelopment of a residential housing society in Pali Hill Mumbai.
Pali Hill is a premium address in Bandra West, where property rates range from Rs 1 lakh to Rs 1.20 lakh per square foot.
It said, “The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, of which over 2.15 lakh sq ft is available for sale, and a potential gross development value (GDV) of over Rs 2,000 crore. "
Strategically located, the residential society is spread over two and a half acres and is one of the largest in the micro market.
Currently, the company is in advanced stage of discussions for redevelopment of three to four more prestigious housing societies in Mumbai
In a regulatory filing, Purvankara said it has been unanimously selected as the preferred developer for the redevelopment of a residential housing society in Pali Hill Mumbai.
Pali Hill is a premium address in Bandra West, where property rates range from Rs 1 lakh to Rs 1.20 lakh per square foot.
It said, “The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, of which over 2.15 lakh sq ft is available for sale, and a potential gross development value (GDV) of over Rs 2,000 crore. "
Strategically located, the residential society is spread over two and a half acres and is one of the largest in the micro market.
Currently, the company is in advanced stage of discussions for redevelopment of three to four more prestigious housing societies in Mumbai
