Puravankara to jointly develop 5.5 acre land parcel

Puravankara Group, a Bengaluru-based property developer, has announced the joint development of a 5.5-acre land parcel in East Bengaluru, with a combined estimated gross development value (GDV) of over Rs 1,000 crore.

The land parcel offers a total combined saleable area of 0.83 million square feet. Located in Balagere, East Bengaluru, the site is in close proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to be launched in the next six to nine months, the company said in a statement.

Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, “The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru’s emerging corridors.”

Earlier this year, the company acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of over Rs 700 crore. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300 crore.

Mallanna Sasalu, CEO – South, Puravankara Limited, added, “Balagere has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio.”