Puravankara Acquires 53.5-Acre Attibele Hobli Land Parcel

Puravankara Limited has strengthened its Bengaluru development pipeline with the acquisition of a 53.5-acre land parcel in Attibele Hobli, Anekal Taluk, one of India's most trusted realty majors said in a stock exchange filing. The property, located in the southern part of Bengaluru, comes with a saleable area of approximately 6.4 million square feet and a potential gross development value exceeding Rs 4,800 crore, making it one of the largest single land transactions the company has undertaken in the city this year.

Commenting on the acquisition, Ashish Puravankara, Managing Director, Puravankara Limited, said this acquisition is part of the company's ongoing efforts to systematically add quality developable land to its launch pipeline across strategic micro-markets, reflecting a disciplined approach to growth with a long-term view for the organisation and confidence in the fundamentals of these markets to create large, sustainable communities. Mallanna Sasalu, CEO - South, Puravankara Limited, added further context, noting that the project is located in a micro-market marked by strong end-user demand and limited availability of developable land.

The Attibele Hobli acquisition does not stand alone. Before this deal, during H1 FY26, Puravankara had already added a total of 6.36 million sq ft of developable area in Bengaluru and Mumbai, with an estimated gross development value of Rs 9,100 crore. With this latest addition, the company's year-to-date land additions now stand at approximately 12.76 million square feet of developable area, carrying a cumulative GDV of nearly Rs 13,900 crore across Bengaluru and Mumbai.

The move fits into a broader pattern of aggressive land-banking across the city. Earlier this year, the company entered into a partnership with KVN Property Holdings LLP to develop a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru, offering a developable area of around 3.48 million square feet and a GDV exceeding Rs 3,300 crore. In East Bengaluru, the developer also entered into a joint development agreement for a 5.5-acre land parcel in Balegere, with a developable area of approximately 0.85 million square feet and a GDV of over Rs 1,000 crore.

Markets responded swiftly to the news. Puravankara shares gained nearly 8 percent in the past one week following the announcement, part of a broader recovery after the stock had dropped sharply from its 52-week high earlier in the year. Analysts view the transaction as a confidence signal, coming at a time when Bengaluru continues to remain one of India's most resilient residential real estate markets, driven by steady employment growth, a strong technology ecosystem, and sustained end-user demand.

For homebuyers, the Attibele Hobli land parcel is already taking shape as a project. Listings describe an upcoming plotted development on this very 53.5-acre parcel, offering residential plots in various sizes with an expected possession date of December 2029; the project's RERA approval is currently under process. Location trackers also note that South Bengaluru has emerged as the city's second-largest residential growth engine, with the corridor spanning Electronic City, Hosur Road, Bannerghatta Road and Sarjapur Road accounting for a significant share of city-wide residential sales.

With large, contiguous land parcels becoming scarce in established corridors, Puravankara's move into Attibele Hobli underlines a broader industry trend: developers are increasingly securing sizeable land banks in emerging micro-markets to build phased, large-scale residential communities ahead of infrastructure-driven price appreciation. For prospective buyers tracking South Bengaluru, this acquisition is an early signal of what could become one of the region's most significant branded residential developments in the coming years.