Puravankara has announced its acquisition of the redevelopment rights for Miami Apartments, a prestigious residential society located in Breach Candy, South Mumbai. The property spans over 2,000 square meters of prime land. This marks Puravankara’s entry into the ultra-luxury market of South Mumbai.
According to market sources, property rates in the area are estimated to range between ₹1,25,000 and ₹1,40,000 per square foot, making it one of the most expensive real estate markets in India.
In addition to this, Puravankara has signed a joint development agreement (JDA) for a project in Bengaluru. The new project, located adjacent to the company’s existing Purva Westend development, will offer a saleable area of 260,000 square feet. Current market rates in this locality range between ₹12,000 and ₹14,000 per square foot.
