Project Overview
Puravankara has signed a joint development agreement for a 5.5-acre land parcel in Balagere, East Bengaluru, with an estimated gross development value exceeding Rs 1,000 crore. The land parcel offers a total saleable area of approximately 0.83 million square feet, positioning it as a significant addition to Puravankara's East Bengaluru portfolio.
The project is structured as a Joint Development Agreement, an approach the company describes as capital-efficient, reducing market risk while supporting faster inventory take-off. Ashish Puravankara, Managing Director, noted that the scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle. Mallanna Sasalu, CEO – South, added that Balagere has emerged as a high-potential residential micro-market driven by proximity to key IT hubs and established infrastructure.
Balagere sits in one of East Bengaluru's most active residential corridors, benefiting from consistent demand tied to its closeness to major technology parks. The micro-market has shown steady sales and rental absorption, factors that informed Puravankara's decision to develop here under the JDA route rather than an outright land purchase.
The developer has indicated the project is expected to be launched within 6 to 9 months of the July 2025 announcement, with detailed configurations, floor plans, and pricing to follow closer to launch. As with all pre-launch developments, specific unit types, tower counts, and amenities will be finalized and disclosed once RERA registration and regulatory approvals are secured.
At a Glance
