Puravankara inks joint development agreement for 4-acre land parcel in Bengaluru, eyes ₹1,300 cr

Bengaluru real estate: Puravankara has signed a joint development agreement for a 4-acre land parcel in north Bengaluru’s Hennur

Updated on: Mar 10, 2026, 18:08:27 IST

Written by Souptik Datta

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Bengaluru-based real estate developer Puravankara Limited has entered into a joint development agreement for a 4-acre land parcel on North Bengaluru’s Hennur Road with a gross development value (GDV) of over ₹1,300 crore, the company said in a regulatory filing on March 9.

Bengaluru-based developer Puravankara Limited has entered a joint development agreement for a 4-acre parcel on Hennur Road with a GDV of over ₹1,300 crore, the company said in a filing. (Picture for representational purposes) (Unsplash)

The project is expected to have a total saleable area of around 0.84 million square feet. “The acquisition aligns with the company’s strategic vision to expand its footprint in key Bengaluru micro-markets that offer robust infrastructure, strong connectivity, and sustained residential demand,” the company said.

The project is expected to be launched within the next six to twelve months, it said.

Also Read: Puravankara plans 12–13 mn sq ft of housing launches; homes to start from ₹1.4 crore: CEO Mallanna Sasalu

Ashish Puravankara said Bengaluru continues to remain one of India’s most resilient residential markets, supported by employment growth and infrastructure investments.

“Within the city, North Bengaluru has emerged as a key growth corridor, driven by its proximity to Kempegowda International Airport, expanding tech parks, and improving connectivity. Hennur Road, in particular, has seen steady traction from homebuyers due to its access to employment hubs and well-developed social infrastructure,” he said.

The project reflects the company’s continued focus on expanding its presence across high-demand residential corridors in Bengaluru through capital-efficient partnerships, said Mallanna Sasalu, CEO - South, Puravankara Limited.

Also Read: Puravankara acquires 54-acre land parcel in Bengaluru with a GDV of ₹4,800 crore

Earlier, Puravankara Limited had signed a deal for a 53.5-acre land parcel in Anekal Taluka, which has a development potential of about 6.4 million sq ft and an estimated GDV of over ₹4,800 crore. The company had also agreed to develop a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru in partnership with KVN Property Holdings LLP, with a projected GDV of more than ₹3,300 crore.

Currently, the company plans to develop around 12–13 million sq ft of residential projects, with new launches across Bengaluru, Mumbai, Kochi and Coimbatore. Ticket sizes are expected to start at about ₹1.4–1.5 crore and go up to ₹11–13 crore for ultra-luxury homes, Sasalu earlier told Hindustan Times Real Estate.

The launches will largely comprise high-rise apartments, gated communities and smaller townships. “In Bengaluru, the ₹1–2 crore bracket is now the sweet spot for residential demand, which has effectively become the premium segment,” Sasalu had said.

In Mumbai, Puravankara is focusing on marquee developments, largely through redevelopment projects. The company has a redevelopment pipeline of about 4.38 million sq ft across five projects, with a potential value of over ₹10,500 crore.

ABOUT THE AUTHOR
Souptik Datta
Souptik Datta is a deputy chief content producer at Hindustan Times Digital, where he reports on southern India with a focus on real estate, urban infrastructure and environmental urban issues. His coverage tracks the intersection of policy, capital flows, regulation and sustainability, examining how these forces shape housing markets, commercial real estate and large-scale infrastructure development across rapidly transforming cities. He also closely tracks civic issues affecting urban residents, including property taxation, planning approvals, public transport expansion, water stress, waste management and the governance challenges that influence everyday life in India’s metros. Souptik’s reporting is driven by a strong interest in accountability, consumer rights and the lived realities of homebuyers and investors navigating volatile pricing cycles, regulatory changes and project delivery risks. He frequently analyses project launches, land monetisation strategies, planning frameworks, RERA-related developments and the broader implications of infrastructure investments on emerging growth corridors. His work blends on-ground reporting with data-backed analysis and long-form explainers aimed at demystifying complex real estate and infrastructure developments for readers. He is an alumnus of the Indian Institute of Journalism and New Media. Before joining Hindustan Times Digital, Souptik was associated with Moneycontrol at Network 18, where he covered real estate, infrastructure and allied sectors, producing market insights, policy-led stories and in-depth features. Outside the newsroom, Souptik is an avid solo traveller and documentary enthusiast, exploring diverse regions and visually documenting unique narratives through film and photography. In his early career, Souptik also freelanced as a documentary photographer, independently working on visual storytelling projects that captured grassroots narratives, urban change and everyday life. He can be reached at souptik.datta@htdigital.in.Read More

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