Bengaluru-based real estate developer Puravankara Ltd has been appointed as the developer for Mumbai’s Pali Hill redevelopment project, the company announced in a regulatory filing on April 23, 2023. Pali Hill is a highly sought-after address in Bandra West, known for its premium residential properties. 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. The potential Gross Development Value (GDV) is estimated to be over ₹2,000 crore. Puravankara’s appointment as the preferred developer was made after a unanimous decision by the residential housing society in Pali Hill. The project is spread across a sprawling two-and-a-half-acre site. Puravankara is currently in advanced discussions for the redevelopment of three to four other housing societies in Mumbai, expanding its presence in the city’s real estate market. The company recently achieved a significant milestone by crossing ₹5,900 crores in sales value in its operational update for FY24, marking a 90% increase compared to ₹3,107 crores in FY23. With its expertise in redevelopment projects and a strong track record, Puravankara is well-positioned to transform Pali Hill into a modern and desirable residential destination.
Puravankara Ltd Appointed Developer for Mumbai’s Prestigious Pali Hill Redevelopment Project
