Puravankara Acquires 12.75 Acres of Land in Patlipada on Ghodbunder Road, Thane

Puravankara Limited, a leading real estate developer in India, has made a significant stride in expanding its presence with the acquisition of 12.75 acres of land in Patlipada on Ghodbunder Road, Thane. The acquisition was made through its wholly-owned subsidiary company, Purva Oak Private Limited. The newly acquired land boasts an estimated potential carpet area of 18.20 lakh sq ft and a potential Gross Development Value (GDV) of Rs 4,000 crores over the project lifecycle.

Ashish Puravankara, Managing Director of Puravankara Limited, expressed excitement about the strategic move, emphasizing the company's commitment to the sustainable and dynamic real estate market of the Mumbai Metropolitan Region (MMR). He highlighted that this expansion in Thane complements recent announcements of redevelopment projects in Pali Hill and Lokhandwala, collectively adding over Rs 7,500 crores of GDV to Puravankara's MMR portfolio.

The company's recent endeavors in MMR include securing rights for the redevelopment of two housing societies in Lokhandwala and being selected as the 'preferred developer' for a redevelopment project in Pali Hills. These projects, along with the newly acquired land in Thane, signify Puravankara's dedication to delivering international quality homes with trust and transparency.

Rajat Rastogi, CEO - West & Commercial Assets at Puravankara Limited, shared plans for the newly acquired land in Thane, envisioning a high-end, mixed-use residential project with a GDV of Rs 4,000 crores. The project is scheduled for launch during the upcoming festive season, underscoring Puravankara's commitment to sustainable development principles.

Strategically located in Patlipada on Ghodbunder Road, the land parcel enjoys proximity to key amenities and infrastructure developments. The area's popularity among homebuyers is attributed to its value proposition, connectivity advantages, and robust social infrastructure. Moreover, upcoming metro lines and infrastructure projects like the Eastern Freeway extension and the Thane Borivali twin tunnel project are expected to further enhance connectivity and accessibility.

Residents of the upcoming project will also benefit from captivating views of a 30-acre botanical garden and the Sanjay Gandhi National Park (SGNP), providing ample green spaces and enhancing the overall living experience.

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