Real Estate

Puravankara enters Mumbai with ultra-luxury project ‘Purva Clermont’

Anil Urs Bengaluru | Updated on March 09, 2021

Ashish R. Puravankara

The project will see four towers with a total of 233 residential units and one tower of 79 commercial units

Puravankara Limited, a Bengaluru-based real estate developer, to kick off its national expansion plan launched its first ultra-luxury project in Mumbai - ‘Purva Clermont’.

The venture marks its re-entry in the city and its maiden foray into the ultra-luxury category under the WorldHome Collection in the Mumbai Metropolitan Region (MMR). WorldHome Collection is the new range of ultra-luxury homes by Puravankara. Through this project, the company aims to provide sustainable and exclusive homes.

The company has invested about ₹450 crore with an expected topline revenue of ₹800 crore. The development will be in four towers with a total of 233 residential units and one tower of 79 commercial units.

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“The ever-growing real estate market of Mumbai has been instrumental in the horizontal and vertical expansion of the city. The last few months have witnessed a steady growth in the luxury housing segment, which is indicative of a shift in the post-pandemic consumer behaviour. Leveraging this shift and latent demand, Puravankara believes this is the right time to bring their ultra-luxury World Home Collection homes to Mumbai,” the company release said.

Speaking to the media, Ashish R Puravankara, Managing Director, Puravankara, said: “The gradual recovery of the economy has revived the demand within the real estate sector. We strongly believe that the current landscape is ideal for us to strengthen our presence in Mumbai.”

“Our new project will be a step towards creating a new landmark in the city of dreams. On a personal note, I am happy to see our foray back into Mumbai, where it all began in 1975. We are confident that our legacy of more than four decades will bring in superior quality, the strength of consistency, timely delivery and innovation to the Mumbai residential market,” he added.

Published on March 09, 2021

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