Real estate developer Puravankara has secured the residential redevelopment rights for two housing societies in the western suburbs of Mumbai. Situated in Lokhandwala in Andheri West, the project is spread over 3 acre. It has a cumulative estimated development potential of 5.8 lakh square foot (sqft) carpet area, with approximately 3.65 lakh sqft available for sale, and a potential gross development value (GDV) of Rs 1,500 crore over the project’s lifecycle.
Abhishek Kapoor, group CEO of Puravankara, said, “This strategic move underscores our commitment to expanding our footprint in Mumbai’s thriving real estate market.”
Rajat Rastogi, CEO- west and commercial assets- Pan India, said, “Andheri- Lokhandwala has emerged as a prominent hotspot in Mumbai’s realty map due to several ongoing and upcoming infrastructure projects. With Puravankara’s customer-focused approach and expertise in delivery excellence, this redevelopment project will be a marquee project. We look forward to bringing our expertise and experience to this development. Our team of experts will work closely with societies to ensure a smooth and seamless redevelopment process.”
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
