Launches a new luxury residential project in ; will develop 5 m sft in next 12-18months
Puravankara Limited, one of India’s largest and trusted builders, today, announced its expansion plans in the thriving Pune real estate market. Having established a strong presence in Pune market since 2016, the company announced the launch of its luxury project – Purva Aspire in Bavdhan area of Pune, a Joint Development between Puravankara and a top-end Pune based developer.
Puravankara launched Silversands project (Phase 1), in 2016 and is going to launch the Phase 2 soon. The company is also slated to launch another 5msft in Pune between both its brands Puravankara and Provident in the next 12-18 months.
Puravankara has identified Pune has emerged as one of the core 5-6 cities that will be growth accelerators for the company across India. Puravankara is committed to strengthening its presence in Pune region, with around 10 msft of residential projects planned in the coming years. This is in line with the vision of the company to build its presence in the West region. Puravankara’s first marquee project in Pune, Purva Silversands has been received very well in the Pune market, and has encouraged the company to increase its footprint in Pune,
Purva Aspire, with an investment of approximately 125 crores, is the first project in the pipeline of launches in Pune which is set to transform the luxury residential space in Pune, with homes built in a perfect blend of futuristic technology and design, with a top-line revenue expectation of 220-230 crores.
Abhishek Kapoor, COO-Residential, Puravankara Limited said, “Pune is one of the key markets for Puravankara. In the last one decade, Pune has emerged as an IT and automobile hub. The rising corporate footprints has metamorphosed the city into real estate hub. The residential real estate market in Pune has picked up quite well as compared to other cities in past three years. 2019 witnessed huge increase in residential sales and the market is only going to get better in the coming years. Keeping in mind, the evolved taste of today’s home buyers who prefer smart and contemporary homes, we are excited to introduce our project Aspire which offers homes with the perfect blend of everything futuristic – location, design, technology and architecture. Located in between Baner-Balewadi which is a fast-emerging business hub, Bavdhan is one of the most sought after locations in Pune, urban and fast developing. Purva Aspire’s first phase will be ready by September 2023”
