Puravankara Group Partners with KVN Property Holdings for ₹3,300 Crore 24.59-Acre Project in North Bengaluru

Puravankara Group, a listed real estate developer based in Bengaluru, has announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru. The project carries an estimated gross development value (GDV) of ₹3,300 crore and is expected to be launched within the next six to nine months.

The planned development will cover a total saleable area of around 3.48 million sq ft. With this joint venture, the company is aiming to further strengthen its footprint in one of Bengaluru’s most rapidly developing residential corridors. The decision aligns with Puravankara’s long-term growth strategy focused on high-potential urban expansion zones.

The site’s location offers several advantages, including close proximity to Kempegowda International Airport and access to upcoming infrastructure and business zones. The real estate developer believes that this corridor’s growth is being fuelled by consistent infrastructure investment and a steady influx of demand from homebuyers seeking connectivity to employment hubs.

Ashish Puravankara, Managing Director of Puravankara Limited, considers the joint venture a natural extension of the group’s ongoing expansion in North Bengaluru. He views the scale of the project and its partnership-driven model as a practical response to the increasing demand for integrated residential developments. According to him, the venture is consistent with the group’s broader vision to create well-planned housing communities that align with urban aspirations and the evolving needs of the city’s expanding population.

North Bengaluru has been gaining prominence in recent years, with growing infrastructure projects such as the Peripheral Ring Road and metro line extensions enhancing regional accessibility. The area has also become a preferred destination for sectors such as IT, aerospace, and logistics, attracting a mix of investors and end-users. This growing interest has led to increased residential activity, especially in areas like Yelahanka, Hebbal, and Devanahalli.

From a market perspective, the joint development model allows developers like Puravankara to scale operations without incurring upfront land acquisition costs. The model also offers flexibility and reduces project risk, particularly in new corridors undergoing rapid transformation. For KVN Property Holdings LLP, the partnership is expected to bring development expertise and brand recognition, supporting optimal value creation on the land parcel.

As the project is being conceptualised, the design and planning stages will consider current buyer trends, especially preferences for functional layouts, amenity-driven living, and integrated social infrastructure. The company expects to launch the project within the next two quarters, depending on approvals and construction readiness.

In a related move, Puravankara Group also announced that Mallanna Sasalu has been appointed as CEO of Puravankara Ltd – South, subject to the approval of the company’s Nomination & Remuneration Committee and Board of Directors. He brings over 32 years of experience in engineering, architecture, and real estate development, with a career that spans both Indian and Canadian markets.

Mr. Sasalu views North Bengaluru as a key growth engine for the city’s residential sector. He attributes the consistent buyer interest in this area to the improving infrastructure landscape and proximity to future commercial hubs. He believes that the joint venture project will benefit from Puravankara’s previous learnings in similar micro-markets, helping to optimise planning and execution.

As North Bengaluru continues to evolve into a residential and commercial hub, developers are expected to focus on large-format developments that offer both quality and affordability. With a sizable project pipeline and an expanding leadership team, Puravankara appears to be positioning itself for sustained growth in this competitive market.

This latest joint venture reflects a broader trend in Indian real estate, where established developers are forging strategic partnerships to enter or deepen their presence in emerging markets. For Puravankara, the move underscores a commitment to long-term planning, professional management, and delivering value through well-executed urban development.