Puravankara Inks ₹1,000 Cr JV Deal for Premium Housing Project in East Bengaluru

Real estate major Puravankara Group has signed a joint development agreement on a 5.5-acre land parcel in Balagere, East Bangalore, with a projected gross development value (GDV) over ₹1,000 crore.

The proposed residential project will have 0.83 million sq. ft. of saleable area and is expected to be launched in the next six to nine months. Balagere is emerging as a micro-market with high demand for premium and luxury housing, being close to major IT corridors and well-connected through existing infrastructure.

This deal is one of the processes by which Puravankara wants to continue scaling its presence in growth zones across Bengaluru. The developer is actively consolidating properties in key residential corridors. Freshly, the company made an announcement on a 3.63-acre acquisition on Kanakapura Road as well as an extensive joint venture in North Bengaluru valued at ₹3,300 crore in GDV.

Ashish Puravankara, Managing Director of the group, stated, “The Balagere project fits right into the company’s focus on high-end aspirational living spaces in well-established urban pockets. This joint development certainly justifies our sustainable growth strategy and restates our belief in East Bangalore. It is the ideal location for an ultra-luxury offering catered to aspirational buyers.”

The proximity of Balagere to Whitefield and the Outer Ring Road IT corridor, combined with good social infrastructure, has made this locality one of the most sought-after residential locations in the city. With a robust demand of late and improving civic amenities, this area is attracting marquee developers
aimed at the upper middle and luxury segment.

With this agreement, Puravankara acquires more land in Bengaluru, reaffirming its long-standing commitment to tapping the city’s premium housing potential. The developer intends to sustain its growth momentum by entering into strategic partnerships and focusing on high-growth clusters in India’s prime urban markets.