Ashish Purvankara, Managing Director, Purvankara Limited
Mumbai, June 3, 2024: Purvankara Limited (BSE: 532891), one of India's most trusted and acclaimed real estate developers, announced the acquisition of 12.75 acres of land at Patlipada on Ghodbunder Road, Thane by its wholly owned subsidiary. Is. , Purva Oak Pvt. Ltd. The estimated potential carpet area of the land is 18.20 lakh sq ft and potential gross development value (GDV) of Rs 4,000 crore over the project lifecycle.
Commenting on this strategic development, Ashish Purvankara, Managing Director, Purvankara Limited, said, “We are thrilled to announce the acquisition of 12.75 acres of land in Thane, which further reinforces our commitment towards MMR's sustainable and dynamic real estate market. Strengthens. This strategic expansion in Thane is in addition to our recent announcements of redevelopment projects at Pali Hill and Lokhandwala.We have added over Rs 7,500 crore of GDV to our MMR portfolio between these three acquisitions. Our continued investment in MMR reflects our vision of providing international quality homes with trust and transparency.”
In November 2023, Purvankara secured the rights to redevelop two housing societies spread over 3 acres in the Lokhandwala area of Andheri West. The project has a development potential of 5.8 lakh sq ft carpet area and a potential GDV of Rs 1,500 crore. In April 2024, the company was selected as the 'Preferred Developer' for a 2.5-acre redevelopment project in Pali Hills, with a development potential of 4.10 lakh sq ft carpet area and a potential GDV of over Rs 2,000 crore.“The land parcel acquisition in Thane is the third major announcement from Purvankara in the last seven months. We will build a high-end, mixed-use residential project with a GDV of Rs 4,000 crore. We look forward to launching this project during the festive season in this financial year with a view to develop one of the finest projects in Thane. Purvankara focuses on incorporating sustainable development into its projects. The Thane project will be built keeping these principles in mind,” said Rajat Rastogi, CEO – West End Commercial Assets, Purvankara Limited.The land parcel is strategically located in Patlipada on Ghodbunder Road – a micro-market that is highly preferred by discerning home buyers due to its value-based proposition, connectivity benefits and strong social infrastructure. The upcoming Metro Line 4 will further improve the connectivity of the area. Additionally, the Eastern Freeway extension will provide seamless access to South Mumbai, while the Thane Borivali Twin Tunnel Project under the Sanjay Gandhi National Park (SGNP) will significantly reduce travel time between the Eastern and Western Express Highways. The project will also enjoy 30 acres of botanical garden and panoramic views of SGNP, providing ample space to the residents.
(Disclaimer: The above press release has been provided by HT Syndication and it will not take any editorial responsibility for this content.)
Mumbai, June 3, 2024: Purvankara Limited (BSE: 532891), one of India's most trusted and acclaimed real estate developers, announced the acquisition of 12.75 acres of land at Patlipada on Ghodbunder Road, Thane by its wholly owned subsidiary. Is. , Purva Oak Pvt. Ltd. The estimated potential carpet area of the land is 18.20 lakh sq ft and potential gross development value (GDV) of Rs 4,000 crore over the project lifecycle.
Commenting on this strategic development, Ashish Purvankara, Managing Director, Purvankara Limited, said, “We are thrilled to announce the acquisition of 12.75 acres of land in Thane, which further reinforces our commitment towards MMR's sustainable and dynamic real estate market. Strengthens. This strategic expansion in Thane is in addition to our recent announcements of redevelopment projects at Pali Hill and Lokhandwala.We have added over Rs 7,500 crore of GDV to our MMR portfolio between these three acquisitions. Our continued investment in MMR reflects our vision of providing international quality homes with trust and transparency.”
In November 2023, Purvankara secured the rights to redevelop two housing societies spread over 3 acres in the Lokhandwala area of Andheri West. The project has a development potential of 5.8 lakh sq ft carpet area and a potential GDV of Rs 1,500 crore. In April 2024, the company was selected as the 'Preferred Developer' for a 2.5-acre redevelopment project in Pali Hills, with a development potential of 4.10 lakh sq ft carpet area and a potential GDV of over Rs 2,000 crore.“The land parcel acquisition in Thane is the third major announcement from Purvankara in the last seven months. We will build a high-end, mixed-use residential project with a GDV of Rs 4,000 crore. We look forward to launching this project during the festive season in this financial year with a view to develop one of the finest projects in Thane. Purvankara focuses on incorporating sustainable development into its projects. The Thane project will be built keeping these principles in mind,” said Rajat Rastogi, CEO – West End Commercial Assets, Purvankara Limited.The land parcel is strategically located in Patlipada on Ghodbunder Road – a micro-market that is highly preferred by discerning home buyers due to its value-based proposition, connectivity benefits and strong social infrastructure. The upcoming Metro Line 4 will further improve the connectivity of the area. Additionally, the Eastern Freeway extension will provide seamless access to South Mumbai, while the Thane Borivali Twin Tunnel Project under the Sanjay Gandhi National Park (SGNP) will significantly reduce travel time between the Eastern and Western Express Highways. The project will also enjoy 30 acres of botanical garden and panoramic views of SGNP, providing ample space to the residents.
(Disclaimer: The above press release has been provided by HT Syndication and it will not take any editorial responsibility for this content.)
