Puravankara Limited has signed a joint development agreement (JDA) for a 5.5-acre land parcel in Balagere, East Bengaluru, marking the company's latest move to strengthen its footprint in one of the city's most active residential corridors. In a regulatory filing, the company informed that it has signed a joint development agreement (JDA) for a 5.5-acre land parcel in East Bengaluru, with an estimated gross development value (GDV) of over Rs 1,000 crore.
The land parcel offers a total combined saleable area of 0.83 million square feet, making it a sizeable addition to Puravankara's luxury housing pipeline. The company did not mention the name of the landowner with whom it has signed the JDA and also did not disclose the revenue or profit sharing structure. The project is expected to be launched in the next 6-9 months from the July 2025 signing date, placing a probable launch window in early to mid-2026.
Balagere sits in the Varthur Hobli area of East Bengaluru, close to major IT employment hubs including Whitefield, Marathahalli, and Bellandur. Its proximity to key IT corridors, along with well-established social and physical infrastructure like the Outer Ring Road and NH 44, ensures strong connectivity and high residential demand. The location also offers access to ITPL and the upcoming Aerospace SEZ, reinforcing its appeal to working professionals in the tech and aerospace sectors.
Commenting on the announcement, Ashish Puravankara, Managing Director of Puravankara, said this joint development underscores the company's sustained growth strategy and reaffirms confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets. Mallanna Sasalu, CEO – South at the company, added that Balagere has emerged as a preferred residential pocket due to its proximity to major tech parks and supporting infrastructure, and that executing the project under a JDA format helps conserve capital and accelerates sales momentum by reducing upfront risks.
The Balagere deal follows a pattern of asset-light expansion by Puravankara across Bengaluru. In a separate deal earlier in 2025, Puravankara acquired 3.63 acres on Kanakapura Road, with an estimated project GDV of over ₹700 crore. The company also formed a joint venture with KVN Property Holdings LLP for a 24.59-acre residential project in North Bengaluru, targeting a GDV of around ₹3,300 crore. More recently, the developer has continued adding to its East Bengaluru pipeline, including a larger land parcel in the Mandur-Budigere belt and a joint development on Hennur Road.
For homebuyers, the Balagere JDA signals fresh luxury inventory entering a micro-market that has already seen steady demand from both end-users and investors, driven by connectivity and rental potential. While exact configurations, floor plans, and pricing are yet to be finalised, the scale and location of the project are being positioned for an ultra-luxury offering. Buyers tracking East Bengaluru real estate would do well to watch for further updates as Puravankara moves toward a formal launch in the coming months.
As with any pre-launch project, prospective buyers are advised to wait for RERA registration and official brochure release before making financial commitments. Puravankara's track record of over 40 years and 95-plus completed projects across nine cities lends credibility to the pipeline, but specific unit sizes, amenities, and pricing for the Balagere development are still to be disclosed.
