April 24, 2024:Â Puravankara has been selected as the developer for redeveloping a residential society in Pali Hill, Bandra, Mumbai, the company mentioned in a regulatory filing with the National Stock Exchange (NSE).
Located in Bandra (West), Pali Hill is a premium address with property rates ranging from Rs 1 lakh to Rs 1.20 lakh per sqft.
As per the regulatory filing, the project has a cumulative estimated development potential of 4.10 lakh sqft carpet area, with over 2.15 lakh sqft available for sale and a potential gross development value (GDV) of over Rs 2,000 crore.
The residential society to be redeveloped is spread slightly over two and a half acre. Also, presently, the company is in advanced stages of discussions for the redevelopment of three to four other prestigious housing societies in Mumbai.
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