Puravankara to redevelop eight Mumbai housing societies

Puravankara Limited announced it has been chosen as the developer for the redevelopment of eight residential cooperative housing societies in Chembur, Mumbai. The projects, spread across approximately 4 acres, offer a total development potential exceeding 1.2 million square feet. The estimated gross development value (GDV) is INR 2,100 crore. This move strengthens Puravankara’s footprint in the Mumbai market. The company confirmed that these transactions are not related party transactions and will be conducted at arm’s length. The agreements for the redevelopments will be executed according to standard industry practices.