Puravankara inks ₹1,000-cr JDA for housing project in East Bengaluru

The 5.5-acre joint development in Balagere will offer 0.83 mn sq ft for sale and is part of Puravankara's strategy to grow in high-demand Bengaluru micro-markets

Bengaluru-headquartered real estate major Puravankara Group has announced a joint development agreement for a 5.5-acre land parcel in Balagere, East Bengaluru. The project has an estimated gross development value (GDV) of over ₹1,000 crore.

 

The upcoming development will offer a total saleable area of approximately 0.83 million square feet. Strategically located near key IT hubs and supported by established infrastructure, the site is positioned to cater to the strong residential demand in the area.

 

Ashish Puravankara, Managing Director, Puravankara, said: “This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city’s most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru’s emerging corridors.” 

   

The launch is slated for the next six to nine months and aligns with Puravankara’s strategy to deepen its presence in high-growth micro-markets across Bengaluru, characterised by robust infrastructure, strong connectivity, and consistent housing demand.

 

Mallanna Sasalu, Chief Executive Officer – South, Puravankara, added: “Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off.”

 

In January this year, Puravankara acquired a 3.63-acre land parcel on Kanakapura Road in Bengaluru, with an estimated gross development value (GDV) of over ₹700 crore.

 

Additionally, the company entered into a joint venture with KVN Property Holdings LLP to develop a 24.59-acre site in North Bengaluru, a project expected to generate a GDV of approximately ₹3,300 crore.

 

As of March, Puravankara has completed over 90 projects spanning approximately 53 million square feet across nine cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company’s current land bank stands at around 25 million square feet, with ongoing developments covering an additional 37 million square feet.