Puravankara to develop housing project in Mumbai suburb
The land, located at Bhandup suburb of Mumbai, is owned by Maharashtra Steel Rolling Mills
Feb 04, 2015
Source : The Economic Times

 

NEW DELHI: Puravankara Projects Ltd has entered into a joint development agreement to develop a housing project on a two-acre land parcel in Mumbai. 

It estimates a sales revenue of about Rs 400 crore from this project. 

The land, located at Bhandup suburb of Mumbai, is owned by Maharashtra Steel Rolling Mills

According to sources, the two companies have concluded the joint development agreement. 

Bangalore-based Puravankara is planning to develop a residential project on this land. 

This project will mark the re-entry of promoters of the company in Mumbai real estate market. 

When contacted, company's joint MD Ashish Puravankara confirmed the development saying that: "We have concluded the transaction, and are currently planning the project". 

The company would launch the project after getting the necessary approvals. It estimates a sales revenue of about Rs 400 crore from this project. 

"This would mark our foray back into Mumbai, and we are very excited about the venture," he said. 

Promoters had developed 12 project in Mumbai under different brand.

Latest Realty News

Cisco-to-help-AP-in-making-Vizag-a-smart-city
Feb 04, 2015
Hyderabad: Global information technology networking major Cisco Systems has evinced interest in working with the Andhra Pradesh government in transforming Visakhapatnam as a smart city
Investors-seek-CM-help-in-stalled-realty-project
Feb 04, 2015
NAGPUR: This may be another case of investors losing their money in a real estate project
Army-bar-on-highrise-rattles-realty
Feb 04, 2015
KOLKATA: A letter from the military headquarters, Bengal Area, has rattled civic bosses in Kolkata and is sure to shake up the city's realty sector
More-realty-space-on-Metro-route-soon
Feb 04, 2015
NOIDA: Even as construction work on the 28-km Noida-Greater Noida Metro link is slated to begin in March this year, a proposal made in 2013 to allow more realty space along all Metro corridors
Luxury-home-launches-in-Bengaluru-up-531%-in-4-years
Feb 03, 2015
Bengaluru: In the four years between 2010 and 2014, Bengaluru has seen a stupendous 531% growth in luxury residential unit launches
40-acres-of-prime-Mumbai-land-to-be-opened-for-realty
Feb 03, 2015
Mumbai: In a boost to chief minister Devendra Fadnavis’ plans to create multiple financial, entertainment and residential hubs in Mumbai, 40 acres of prime land is expected to be freed up in the Parel-Lalbaug area
Realty-firm-Omaxe-Ltd-plans-to-sell-non-core-lands-worth-about-Rs-150-crore
Feb 03, 2015
NEW DELHI: Realty firm Omaxe Ltd is looking to raise about Rs 150 crore through sale of non-core land parcels
Realty-players-mull-petition-against-hike-in-ready-reckoner-rates-in-Maharashtra
Feb 03, 2015
Mumbai: Realty players are considering approaching the Bombay High Court against the revision in ready reckoner (RR) rates across Maharashtra
State-government-turns-focus-on-builders-to-raise-revenue
Feb 03, 2015
MUMBAI: With finances in doldrums but not keen to tax citizens more, the Maharashtra government has turned its attention on cash-rich builders for augmenting its resources
Budget-2015:-Inclusion-of-real-estate-in-GST-will-bring-a-lot-of-transparency,-says-Mohit-Goel,-CEO,...
Feb 03, 2015
New Delhi: With the Union budget for 2015-16 round the corner, the real estate sector is ready with its wish-list, hoping for a favourable treatment from the new government

Latest Realty News Of State

Realty Talk's