Ashish Puravankara
| Photo Credit: Special Arrangement
Real property developer Purvankara Ltd. mentioned its wholly-owned subsidiary Purva Oak Private Ltd. has acquired 12.75 acre of land in Thane close to Mumbai for an unspecified quantity.
“The land has an estimated potential carpet area of 18.20 lakh sq. ft. and a potential Gross Development Value (GDV) of ₹4,000 crore over the project lifecycle,” the corporate mentioned in an announcement.
Ashish Puravankara, Managing Director, Puravankara Ltd, mentioned, “This strategic expansion in Thane is in addition to our recent announcements of redevelopment projects in Pali Hill and Lokhandwala. We have added over ₹7,500 crore of GDV to our Mumbai Metropolitan Region (MMR) portfolio between these three acquisitions.”
The firm will construct a high-end, mixed-use residential undertaking on the web site and would open bookings through the upcoming festive season.
