Puravankara Limited, a prominent real estate developer in India, has acquired a 9.73-acre land parcel in Sanna Ammanikere, located in North Bengaluru's rapidly developing airport corridor. The outright acquisition offers a development potential of approximately 0.89 million square feet, with an estimated gross development value (GDV) of Rs 800 crore.
Strategic Expansion in Bengaluru
This acquisition aligns with Puravankara's strategy to strengthen its presence in high-growth micro-markets of Bengaluru through a mix of outright purchases and capital-efficient partnerships. The upcoming residential project aims to meet the increasing demand for well-designed homes in well-connected urban growth corridors.
Management Insights
Ashish Puravankara, Managing Director of Puravankara Limited, stated, "Bengaluru continues to be at the centre of India's residential growth story, supported by a strong economic base, expanding infrastructure and sustained end-user demand. This acquisition reflects our conviction in the long-term potential of North Bengaluru and our focus on securing high-quality land parcels in strategic corridors."
He further added, "As we enter our next phase of growth, we will continue to build a strong development pipeline through disciplined capital allocation, faster turnaround from acquisition to launch, and projects that respond to the evolving aspirations of today's homebuyers."
Location Advantages
The land parcel is situated in the Devanahalli growth corridor, offering excellent connectivity to Kempegowda International Airport and key employment hubs. The region benefits from Bengaluru's northward expansion in technology, aerospace, logistics, and commercial sectors, supported by major infrastructure projects like the Airport Metro, Satellite Town Ring Road, Aerospace Park, and Airport City. Improving connectivity, planned infrastructure upgrades, and expanding social amenities are expected to enhance the corridor's appeal as a residential and commercial destination.
CEO's Perspective
Mallanna Sasalu, CEO - South, Puravankara Limited, commented, "This acquisition further consolidates our presence in Bengaluru, our largest and most strategic market. North Bengaluru is increasingly being shaped by employment-led growth, improving infrastructure and genuine end-user demand. This project gives us the opportunity to create a well-planned residential community that brings together scale, connectivity, amenities and the quality of living that discerning homebuyers expect from Puravankara."
Recent Developments
This acquisition follows Puravankara's recent purchases and joint development agreements in other key Bengaluru micro-markets, including Hennur Road, Mandur, and Doddagubbi, further strengthening its development pipeline in the city.
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