Puravankara buys 3.6-acre land parcel in Bengaluru's Kanakapura Road

The land is located around a kilometre from a metro station, and is located around seven kilometres from JP Nagar, a key commercial hub

Puravankara has purchased a 3.6-acre land parcel in Bengaluru's Vajrahalli area close of the a metro line, the real estate developer said on January 9, a move being seen as an effort to strengthen the company's presence in the south.

The land on the Kanakapura Road is estimated to have a saleable area of around 5.42 lakh square feet and a gross development value of around Rs 700 crore, the company said in a release without disclosing the amount it paid for the plot.

It is a kilometre away from the Thalaghattapura metro station on Namma Metro's Green Line and is around seven kilometres from the JP Nagar suburb, a key residential and commercial hub in southern Bengaluru.

"This strategically located land parcel is in a micro-market with buoyant demand and low availability of land for development. Given its excellent connectivity and well-established infrastructure, it has significant potential for premium residential development. Our focus will continue to be on business development to replenish our land bank in such strategic locations with favourable demand-supply conditions," managing director Ashish Puravankara said.

The acquisition is in line with Puravankara's strategy to strengthen its southern market presence, especially in Bengaluru, where it is based, in both residential and commercial segments. At the same time, the company has also expanded its play into new markets and has tied up multiple redevelopment projects in Mumbai and is seeking to buy land in neighbouring Pune as well.