Purva Oak, a wholly-owned subsidiary of Puravankara, has acquired 12.75 acres of land in Patlipada on Ghodbunder Road, Thane.The land has an estimated potential carpet area of 18.20 lakh sq ft and a potential gross development value (GDV) of Rs 4,000 crore over the project lifecycle.
Ashish Puravankara, managing director of the company said, “We look forward to launching this project during the festive season this financial year. We have added over Rs 7,500 crore of GDV to our MMR portfolio between these three acquisitions.
“In November 2023, Puravankara secured rights to undertake the redevelopment of two housing societies spanning three acres in the Lokhandwala area of Andheri West. The project has a development potential of 5.8 lakh sq ft carpet area and a potential GDV of Rs 1,500 crore.
In April 2024, the company was selected as the ‘preferred developer’ for a 2.5-acre redevelopment project in Pali Hills with a development potential of 4.10 lakh sq ft carpet area and a potential GDV of over Rs 2,000 crore.
