Puravankara Acquires 9.73-Acre North Bangalore Land Parcel

Puravankara Limited has acquired a 9.73-acre land parcel at Sanna Ammanikere in North Bengaluru's fast-developing airport corridor. The outright acquisition has a development potential of approximately 0.89 million sq ft, with an estimated gross development value (GDV) of ₹800 crore. This strategic purchase arrives at a pivotal moment for North Bangalore's residential market, where property values are rising steadily over the last four quarters to reach an average of ₹9,250 per sq ft.

The land parcel is located in the Devanahalli growth corridor, with connectivity to Kempegowda International Airport and access to key employment hubs. The region continues to benefit from the northward expansion of Bengaluru's technology, aerospace, logistics and commercial ecosystems, supported by major infrastructure developments such as the Airport Metro, Satellite Town Ring Road, Aerospace Park and Airport City. The timing reflects Puravankara's confidence in North Bangalore's long-term trajectory, where North Bangalore (Devanahalli, Yelahanka) is growing the fastest due to metro lines, IT parks, and airport connectivity.

The acquisition reinforces Puravankara's strategy of strengthening its presence across high-growth Bengaluru micro-markets through a balanced mix of outright purchases and capital-efficient partnerships. The upcoming residential development will cater to the growing demand for thoughtfully designed homes in well-connected urban growth corridors. This follows Puravankara's recent land purchases and joint development agreements across Bengaluru, including Hennur Road, Mandur and Doddagubbi, as the developer expands its presence in the city.

The primary driver of growth is the massive influx of commercial development. The BIAL ITIR, the sprawling Aerospace Park, and the planned Financial City are set to create hundreds of thousands of high-paying jobs. This influx of a skilled workforce creates a direct and immediate demand for quality housing, driving up both rental yields and capital values for the entire Bangalore North real estate market. Being only 15 kilometres from Kempegowda International Airport has made Devanahalli an ideal spot for businesses and residential projects targeting frequent travellers, corporate professionals, and global investors.

Developers recognize the window closing on premium land parcels in this corridor. The Karnataka Real Estate Regulatory Authority (RERA) has noted that several developers have shifted their focus to this region due to its promising growth trajectory. The evolution from a sleepy town to a busy urban locality is evident in the variety of real estate projects now in different stages of development - from luxury villas to integrated smart townships. Homebuyers tracking investment opportunities in North Bangalore should note that property rates have climbed from ₹8,900 per sq ft in September 2025 to ₹9,550 per sq ft by June 2026.