Puravankara Projects Signed 4 acre Commercial JV Deal In Hyderabad

Puravankara Projects Signed 4 acre Commercial JV Deal In Hyderabad

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9 year(s) ago

Puravankara Ventures into Hyderabad’s Office Market with Rs 170 Crore Investment. Real estate developer Puravankara Projects Ltd. is expanding its commercial portfolio with a new Grade A office space project in Hyderabad. Puravankara Projects Signed a 4-acre Commercial JV Deal In Hi-Tech City (Kondapur), Hyderabad to develop an office space complex named Purva Summit.


Project Highlights:

  • Project Name: Purva Summit
  • Location: Hi-Tech City (Kondapur), Hyderabad
  • Investment: Rs 170 crore over two years
  • Area: 4 acres with 6 lakh sq ft of built-up area

Project Strategy:

  • Dual Model: Selling office spaces to individual buyers and leasing to corporate tenants.
  • Attractive Entry Point: Starting price of Rs 25 lakh for a 300 sq ft office space to encourage retail investor participation.
  • Strong Leasing Potential: Low vacancy rates in Hyderabad’s Grade A office space market.

Funding and Sales Target:

  • Funding through internal accruals and project sales realization.
  • Potential sales realization of Rs 220 crore if the entire economic interest is sold.
  • Company will retain some space for leasing purposes.

Company Optimism:

  • Encouraged by successful sales of commercial projects in Chennai and Bangalore.
  • Positive outlook on Hyderabad’s real estate market with stabilizing conditions and rising commercial activity.

Additional Information:

  • Puravankara has a presence in six Indian cities and a strong development portfolio.

This project signifies Puravankara’s strategic move to capitalize on the growing demand for office space in Hyderabad’s IT hub. The dual sales and leasing model caters to both individual investors and large corporations

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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