Puravankara Inks JDA for 5.5-Acre East Bengaluru Land, Targets ₹1,000 Crore GDV.

Puravankara Group, a leading Indian real estate developer, has announced a significant joint development agreement for a 5.5-acre land parcel in East Bengaluru. This strategic acquisition is estimated to have a gross development value (GDV) of over ₹1,000 crore, aligning with the company's vision to expand its presence in key Bengaluru micro-markets known for robust infrastructure, excellent connectivity, and consistent residential demand.

The land parcel offers a total combined saleable area of 0.83 million square feet. Located in Balagere, East Bengaluru, the site benefits from strong and steady market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. Puravankara expects to launch the project within the next six to nine months.

Ashish Puravankara, Managing Director, Puravankara Limited, commented on the development, stating, "This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru's emerging corridors."

Mallanna Sasalu, CEO - South, Puravankara Limited, added, "Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk, and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio."

This latest venture follows other strategic expansions by Puravankara this year. Earlier, the company acquired a 3.63-acre land parcel on Kanakapura Road, Bengaluru, with an estimated GDV of over ₹700 crore. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, which has a potential GDV of ₹3,300 crore.