Puravankara to Redevelop Three Housing Societies in Mumbai

 

Mumbai : Real estate developer Puravankara Limited has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai, marking another major expansion of its redevelopment portfolio in the city.

Spread across 4.68 acres, the three projects have a combined developable potential of approximately 1.05 million sq ft and an estimated Gross Development Value (GDV) of ₹2,600 crore. The projects will add to Puravankara’s growing presence in Mumbai’s redevelopment market.

This acquisition represents the company’s eighth redevelopment project in Mumbai. Puravankara said redevelopment remains an important part of its Mumbai growth strategy, particularly in established residential locations.

With the latest addition, Puravankara’s Mumbai redevelopment portfolio has a potential GDV of approximately ₹17,500 crore, according to the company.

The projects highlight the growing importance of redevelopment in Mumbai, where ageing residential societies are increasingly being transformed into modern housing developments with improved infrastructure and amenities.