The record
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- Puravankara Limited has won redevelopment rights for three residential societies in Bangur Nagar, Goregaon West in Mumbai.
- The project covers 4.68 acres with about 1.05 million sq. ft. of developable potential and an estimated gross development value of ₹2,600 crore.
- This is Puravankara's eighth redevelopment project in Mumbai, adding to existing projects in areas such as Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill and Cuffe Parade.
- The company's Managing Director Ashish Puravankara has described redevelopment as an important pillar of its Mumbai growth strategy.
- The large project size shows Puravankara is building a major redevelopment business in Mumbai, one of India's biggest property markets.
What to watch next
- Details on timelines and construction plans for the Goregaon West project
- Additional society redevelopment deals in Mumbai as the company builds its portfolio
- Execution and capital allocation updates for the Mumbai redevelopment platform
Who said what1
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Ashish Puravankara
Managing Director, Puravankara Limited
1 quote · 1 outlet
“Redevelopment is an important pillar of our Mumbai growth strategy and we see a significant opportunity to build a scaled and sustainable redevelopment platform in the city, backed by disciplined capital allocation, strong execution and a long-term approach to value creation.”
In the article
…projects across locations including Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill and Cuffe Parade. Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, “ Redevelopment is an important pillar of our Mumbai growth strategy and we see a significant opportunity to build a scaled and sustainable redevelopment platform in the city, backed by disciplined capital allocation, strong execution and a long-term approach to value creation. ” Located in the western suburbs, Goregaon West is a well-established residential market with strong connectivity to key business districts and social infrastructure. The Goregaon West project adds another established…
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Named India · Goregaon West · Mumbai · Ashish Puravankara · Puravankara Limited
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