Puravankara to Redevelop 8 Societies in Chembur, Mumbai

Puravankara Limited, a leading listed real estate developer headquartered in Bengaluru, has been selected as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai.

Spanning four acres, the project offers a development potential of 1.2 million square feet and is expected to yield a Gross Development Value (GDV) of Rs. 2,100 crore. This announcement is part of Puravankara’s strategic push into Mumbai’s high-value redevelopment market, following recent acquisitions in Breach Candy, Pali Hill, and Lokhandwala—three of the city’s most prestigious locations.

Key Highlights

• Puravankara to redevelop 8 societies in Chembur with 1.2M sq ft potential
• Project GDV pegged at Rs. 2,100 crore; part of 14M sq ft western India pipeline
• Redevelopment to contribute Rs. 7,700 crore to company’s western region GDV

These initiatives reflect the company's expanding redevelopment footprint in the western region and its commitment to transforming urban landscapes through quality-driven projects.

“Securing marquee redevelopment projects in highly sought-after Mumbai neighbourhoods such as Breach Candy, Pali Hill, Lokhandwala, and now Chembur is a strong validation of the trust, discerning societies and residents place in the Puravankara brand. What distinguishes us is not just our vision, but also our design-led approach and unwavering focus on quality,” said Ashish Puravankara, Managing Director, Puravankara Limited.

With a total of 11 projects in Mumbai and Pune, spanning approximately 14 million sq ft, Puravankara has established a significant presence in western India. Of this, 3.6 million sq ft is attributed to redevelopment alone. The region is projected to contribute Rs. 18,000 crore in total GDV, with Rs. 7,700 crore from redevelopment initiatives.

Also Read: Puravankara, KVN Join for Rs. 3,300-Crore North Bengaluru Project

"After receiving a phenomenal response for our existing project in Chembur (Purva Clermont), our expansion in this micro-market will strengthen our footprint further. As we celebrate our Golden Jubilee year, this achievement not only reinforces our position as a trusted partner in the redevelopment space but also strengthens our presence in Mumbai’s vibrant and competitive real estate market. We remain committed to driving innovation and delivering value to all stakeholders, residents, partners, and the communities we serve," said Rajat Rastogi, CEO, West and Commercial Assets, Puravankara Limited.

Puravankara’s consistent growth in Mumbai’s redevelopment sector signals its long-term commitment to revitalizing prime city neighborhoods, meeting rising demand for upgraded housing, and contributing meaningfully to the urban renewal ecosystem.