Realty developer Puravankara has acquired redevelopment rights for a housing society in Mumbai’s Malabar Hill, adding seven lakh sq. ft. of development potential with a GDV of Rs 2,700-crore.

“With its location, scale, and luxury positioning, this project is in perfect alignment with our strategy of expanding into key strategic markets across the city,” said Ashish Puravankara, Managing Director, Puravankara. The project marks one of the largest redevelopment initiatives in South Mumbai, strengthening Puravankara’s city portfolio to 4.25 million sq ft with a potential gross development value (GDV) of Rs 10,500 crores.

The company has previously acquired redevelopment rights in Breach Candy, Pali Hill, Lokhandwala, and is the preferred developer for eight societies in Chembur, with over 1.2 million sq. ft. and an estimated GDV of Rs 2,100 crores. Redevelopment-led opportunities reflect strong demand and growth potential in India’s most expensive real estate market.