Latest News | Puravankara Bags Project to Redevelop Housing Society in Mumbai
Get latest articles and stories on Latest News at LatestLY. Realty firm Puravnkara Ltd on Tuesday said it has bagged a project to redevelop a housing society at Pali Hill in Mumbai with an expected revenue potential of more than Rs 2,000 crore.
New Delhi, Apr 23 (PTI) Realty firm Puravnkara Ltd on Tuesday said it has bagged a project to redevelop a housing society at Pali Hill in Mumbai with an expected revenue potential of more than Rs 2,000 crore.
In a regulatory filing, Puravankara said it has been unanimously selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai.
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Pali Hill is a premium address in Bandra West, with property rates ranging from Rs 1 lakh to Rs 1.20 lakh per sq ft.
"The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, with over 2.15 lakh sq ft available for sale, and a potential Gross Development Value (GDV) of over Rs 2,000 crore," it said.
Strategically positioned, the residential society is spread slightly over two-and-a-half acres and is one of the largest in the micro-market.
At present, the company is in the advanced stages of discussions for the redevelopment of three to four other prestigious housing societies in Mumbai.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)