The land parcel boasts a saleable area of 5.42 lakh square feet and a total estimated Gross Development Value exceeding Rs 700 crore.
Puravankara stock gains attention as the company expands its land portfolio with a new acquisition in Bengaluru
Puravankara Ltd has recently made headlines with the acquisition of a 3.63-acre land parcel in Kanakapura Road, Bengaluru, which has sparked interest in the company’s stocks. As of 12:46 pm, the stocks are trading at Rs 378.05, a slight decrease of 0.55 percent from the opening figures. Since January 9, the stocks have been consistently hovering around Rs 380.
This strategic acquisition is in line with Puravankara Limited’s vision to expand its presence in key micro-markets in Bengaluru known for their strong infrastructure, connectivity, and high residential demand.
Managing Director of Puravankara Limited, Ashish Puravankara, expressed his enthusiasm about the acquisition, stating, “We are thrilled to announce the purchase of this prime land parcel on Kanakapura Road, Bengaluru. This strategically located property is situated in a high-demand micro-market with limited land availability for development. With its excellent connectivity and established infrastructure, it holds great potential for premium residential projects. Our focus remains on acquiring land in such strategic locations with favorable demand-supply dynamics.”
The land parcel is ideally located on Kanakapura Road, offering seamless road and metro connectivity to various parts of the city. It is just 1 km away from Thalaghattapura Metro Station on the Green Line of Namma Metro, while the well-known residential and commercial hub of J.P. Nagar is approximately 7 km away. The area also boasts a strong social and retail infrastructure. With a saleable area of 5.42 lakh sq ft, the land parcel is estimated to have a Gross Development Value exceeding Rs 700 crore.
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