Introduction:
Puravankara Limited, a leading name in India’s real estate sector, has marked another milestone with the acquisition of a significant land parcel in Thane. Through its subsidiary, Purva Oak Private Limited, the company has secured 12.75 acres of prime real estate in Patlipada on Ghodbunder Road. This strategic move underscores Puravankara’s commitment to the vibrant real estate market of the Mumbai Metropolitan Region (MMR) and signifies a substantial addition to its portfolio.
Key Details of the Acquisition:
The acquired land boasts an estimated potential carpet area of 18.20 lakh sq ft, presenting ample space for future development endeavors. Notably, the project holds a promising Gross Development Value (GDV) of Rs 4,000 crores over its lifecycle, highlighting the lucrative prospects associated with this venture.
Unlocking Potential: Puravankara Limited’s Strategic Land Acquisition in Thane:
Insights from Ashish Puravankara:
Ashish Puravankara, the Managing Director of Puravankara Limited, expressed his enthusiasm regarding this strategic advancement. He emphasized the significance of the Thane expansion, emphasizing its alignment with the company’s broader vision for the MMR real estate landscape.
This acquisition follows closely on the heels of other notable projects in areas like Pali Hill and Lokhandwala, collectively contributing over Rs 7,500 crores in GDV to Puravankara’s MMR portfolio. Puravankara’s sustained investment in the region underscores its dedication to delivering homes of international quality
while upholding principles of trust and transparency.
Conclusion:
The acquisition of the 12.75-acre land parcel in Thane signifies a significant step forward for Puravankara Limited, amplifying its presence and potential within the burgeoning real estate market of the MMR. As the company continues to expand its footprint and enhance its offerings,
stakeholders can anticipate further innovations and transformative projects that uphold Puravankara’s esteemed reputation for excellence and reliability in the realm of real estate development.
Frequently Asked Questions FAQ:
1. What is the significance of Puravankara Limited’s acquisition of land in Thane?
Puravankara Limited’s acquisition of 12.75 acres of land in Thane holds significant strategic importance for the company. This move not only expands its footprint in the Mumbai Metropolitan Region (MMR) but also represents a substantial addition to its real estate portfolio. The acquired land parcel offers ample opportunities for future development endeavors, contributing to Puravankara’s growth trajectory.
2. What are the key details of the acquired land parcel?
The acquired land parcel in Thane, located in Patlipada on Ghodbunder Road, spans approximately 12.75 acres. It has an estimated potential carpet area of 18.20 lakh sq ft, providing ample space for various development projects. Notably, the project holds a promising Gross Development Value (GDV) of Rs 4,000 crores over its lifecycle, highlighting its lucrative prospects.
3. Who is the subsidiary company responsible for this acquisition?
The acquisition of the land parcel in Thane was executed by Puravankara Limited’s wholly-owned subsidiary company, Purva Oak Private Limited.
4. What is the vision behind Puravankara Limited’s expansion in the Mumbai Metropolitan Region (MMR)?
Puravankara Limited is committed to delivering international quality homes while upholding principles of trust and transparency. The company’s expansion in the MMR underscores its dedication to catering to the evolving needs of homebuyers in this dynamic real estate market. By investing in strategic acquisitions like the one in Thane, Puravankara aims to strengthen its presence and deliver exceptional value to its customers.
5. How does this acquisition align with Puravankara Limited’s broader goals?
This acquisition aligns perfectly with Puravankara Limited’s broader vision of sustainable growth and excellence in real estate development. By expanding its presence in key markets like Thane and adding substantial value to its portfolio, Puravankara reaffirms its position as one of India’s most trusted and admired real estate developers.
6. What can stakeholders expect from Puravankara Limited following this acquisition?
Following the acquisition of the land parcel in Thane, stakeholders can anticipate further innovations and transformative projects from Puravankara Limited. The company’s commitment to delivering international quality homes with trust and transparency remains unwavering, promising exciting developments and opportunities for stakeholders in the future.