Bengaluru, 09 January 2025: Puravankara Limited (NSE: PURVA | BSE:
532891), one of India’s most trusted and admired real estate developers, has
acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru. This
acquisition aligns with the company’s strategic vision to expand its footprint
in key Bengaluru micro-markets with robust infrastructure, connectivity, and
residential demand.
The recently acquired land parcel in Vajrahalli, Kanakapura Road, spans
an area of 3.63 acres, with a saleable area of 5.42 lakh sq ft and a total
estimated Gross Development Value of Rs 700+ crore.
Commenting on the acquisition, Ashish
Puravankara, Managing Director, Puravankara Limited, said: "We are excited to announce the acquisition
of this land parcel at a prime location on Kanakapura Road, Bengaluru. This strategically
located land parcel is in a micro-market with buoyant demand and low
availability of land for development. Given its excellent connectivity and
well-established infrastructure, it has significant potential for premium
residential development. Our focus will continue to be on business development
to replenish our land bank in such strategic locations with favourable
demand-supply conditions.”
The land parcel is in a prime location on Kanakapura Road and enjoys
seamless road and metro connectivity to prominent parts of the city. It is
located 1 km from Thalaghattapura Metro Station on the Green Line of Namma
Metro. J.P. Nagar, a well-established residential and commercial hub, is about
7 km away. The area also boasts robust social and retail infrastructure.