Construction Industry News
Piramal Enterprises has invested over Rs 500 crore in a number of projects by real estate developer Puravankara Group. The projects extend across different regions of India and include commercial and residential properties. The funds will be infused through a senior secured financing structure and are currently allocated to four of the developer's projects.
A major commercial real estate development project, spread over 800,000 square feet along Kanakapura Road in Bengaluru, is currently underway. It is an area known for its commercial growth. This project is in line with the broader trend of business expansion in the city, reinforced by its reputation as an IT hub and thriving business ecosystem.
Increasing investment in the real estate market in India will benefit home buyers who are looking for a luxurious life. spaces, with a focus on developing villas and integrated villa complexes (IVC) in the city. A combination of villas and apartments, the villas offer a unique residential experience by combining the privacy and space of a villa with the amenities and comfort of a residential complex. The investment will also extend to residential properties in Goa, spread over an area of over 1.5 million sq ft.
Puravankara operates three brands - Purva, Provident Housing and Purva Land - that cater to the entire housing segment and cluster projects . As of September-end, it has completed over 80 projects spanning 46 million sq ft in Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa.
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