Puravankara Acquires Land for Rs 900 Cr Housing Project in Bengaluru
Jul 02, 2024 18:20
Puravankara Ltd has acquired 7.26 acres in Bengaluru to build a Rs 900 crore housing project. The project will have a saleable area of 7.5 lakh sq ft.
Illustration: Dominic Xavier/Rediff.com
Bengaluru, Jul 2 (PTI) Realty firm Puravankara Ltd on Tuesday said it has acquired a 7.26-acre land in Bengaluru to develop a housing project worth Rs 900 crore.
In a regulatory filing, the company informed about the acquisition of the land parcel in Hebbagodi, Bengaluru. It did not disclose the deal value and also did not share whether the company bought the land outright or partnered with the landlord.
Saleable area of the project will be around 7.5 lakh square feet, with potential sales booking value or gross development value (GDV) of over Rs 900 crore.
The company also recently announced the acquisition of a 12.75-acre land in Thane's Ghodbunder Road and Lokhandwala in Mumbai, with a potential total GDV of Rs 5,500 crore.
In a separate filing, the company informed that its subsidiary Provident Housing Ltd has purchased owner's shares of land in Botanico project and owner's share of unit in Capella Project, in Bangalore Rural, Karnataka. The total consideration paid to acquire owner's shares in the two projects is Rs 250 crore.
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