Real estate developer Puravankara, based in Bangalore, has secured the rights to redevelop three residential societies in the Goregaon West area of Mumbai. The total Gross Development Value (GDV) of this project is ₹260 billion.
The project spans an area of 4.68 acres and has a potential built-up area of approximately 1.05 million square feet. This marks Puravankara's eighth redevelopment project in Mumbai. As a result, the company's portfolio of projects in Mumbai now has a potential total GDV of around ₹17,500 billion.
Ashish Puravankara, Managing Director of Puravankara, stated that redevelopment is a crucial element of the company's growth strategy in Mumbai. He added that it allows participation in the development of some of the city's most well-known and sought-after areas. The eighth project reflects the momentum gained and the trust of buyers in the brand. The company sees significant opportunity to create a scalable and sustainable platform for redevelopment in the city, relying on disciplined capital allocation, strong execution, and a long-term approach to value creation.
In a statement released on Thursday, the company noted that Goregaon West, located in the western suburbs, represents a well-established residential market with good connectivity to key business districts and social infrastructure.
Expanding Presence in Mumbai
Rajjat Rastogi, Chief Executive Officer for Western and Commercial Assets at Puravankara, emphasized that the redevelopment opportunities in Mumbai involve not only increasing supply but also reimagining some of the city's most established neighborhoods. He mentioned that projects in prestigious locations such as Brihanmumbai, Pali Hill, Lokhandwala, Malabar Hill, Cuffe Parade, and now Goregaon West, contribute to the gradual expansion of the company's presence across the city while restoring the urban skyline. The company's approach is based on the Puravankara philosophy: thoughtful design, quality, transparency, and a strong focus on the people and communities they build for.
Furthermore, according to data from the proptech platform 99acres, the average property price for apartments in Bandra Nagar as of August 2026 was approximately ₹35,500 per square foot. Regarding price growth, apartment prices in Bandra Nagar, Mumbai, have increased by 2.2 percent over the last year, 36.8 percent over the last five years, and 43.4 percent over the last decade.