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11-06-2024

Uttar Pradesh

Puravankara Limited -Prime Land in Thane for ₹4,000 Crore

Strategic Location and Connectivity

This new development is strategically located in Patlipada on Ghodbunder Road, an area rapidly transforming thanks to ongoing infrastructure projects. The upcoming metro line and the Thane-Borivali twin tunnel project are set to be game-changers. These enhancements promise to significantly improve connectivity with South Mumbai and reduce travel times between the Eastern and Western Express highways. For residents, this means easier commutes and more convenience.

Major Player in Thane’s Booming Real Estate Market

With an estimated carpet area of 18.20 lakh square feet and a potential gross development value of ₹4,000 crore, this project is set to be a major player in Thane’s booming real estate market. The launch is slated for the festive season this financial year, aiming to capture the attention of homebuyers looking for luxury and convenience. Puravankara is positioning this development as a top choice for those seeking a blend of upscale living and strategic location.

Impressive Growth Trajectory

Over the past seven months, Puravankara has been on an impressive growth trajectory in the Mumbai Metropolitan Region. They've secured projects with potential revenue of over ₹7,500 crore. Notable among these are redevelopment projects in upmarket Mumbai locations like Pali Hill and Lokhandwala. In November 2023, they began a redevelopment project in Lokhandwala with a potential revenue of ₹1,500 crore, and in April 2024, they were chosen as the preferred developer for a redevelopment in Pali Hill, expected to generate over ₹2,000 crore. These projects highlight Puravankara's capability to undertake and deliver high-value developments.

Success of South Indian Real Estate Companies in Mumbai

South Indian real estate companies, like Puravankara, are finding remarkable success in Mumbai. The robust demand in the city is evident from recent developments. For instance, in April 2024, Prestige Estates Projects sold inventory worth ₹1,300 crore within the first three months of pre-launch, highlighting the strong market appetite. This trend underscores the growing influence and success of South Indian developers in the Mumbai real estate landscape. Stay tuned for more updates and follow Sona Construction Technologies Pvt Ltd for the latest in real estate and construction news

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