Puravankara and Purva Real Estate Fund acquires more than 100 acres of land in Chennai.

Realty firm Puravankara and Purva Real Estate Fund, the group’s first category-II AIF, have acquired more than 100 acres of land for plotted development in a deal valued around Rs. 200 crore in Chennai.

The proposed project at Guduvanchery is expected to have a total revenue potential of over Rs. 900 crore.

“Puravankara and the AIF fund partly acquired the land. The biggest strength of plotted projects is clarity on the title and government-approved developments,” said Abhishek Kapoor, CEO, Puravankara.

ET