DBT Bureau
Bengaluru, 11 January 2025
Puravankara Ltd, one of India’s leading real estate developers, has acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru. This acquisition aligns with the company’s bid to expand its footprint in key Bengaluru micro-markets with robust infrastructure, connectivity, and residential demand, the company said in a press release.
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 more than Rs 700 crore.
Commenting on the acquisition, Ashish Puravankara, Managing Director of Puravankara Ltd 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 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, the release added.
