Real estate developer Puravankara Group has entered into a joint development agreement (JDA) for a 5.5-acre residential project located in Balagere, East Bengaluru. The project carries an estimated gross development value (GDV) of over ₹1,000 crore and will offer around 0.83 million sq ft of saleable space. The company is targeting a launch timeline of six to nine months.
The land parcel is situated in a key residential micro-market that connects to Whitefield and Varthur, two of the city’s leading IT corridors. East Bengaluru continues to see steady demand for housing due to a mix of physical and social infrastructure, as well as its appeal among technology professionals.
Puravankara has indicated that the project is expected to be positioned as an upper mid-income or premium development, with emphasis on scale, connectivity, and market responsiveness. The company’s recent activity suggests a clear intent to build out its presence in East Bengaluru through strategic partnerships and efficient land aggregation models.
According to the company’s managing director Ashish Puravankara, the latest agreement aligns with their expansion strategy in high-opportunity corridors within Bengaluru. The Balagere micro-market, with its steady absorption rates and low inventory risk, has become one of the preferred destinations for developers looking to tap into demand from the city’s growing knowledge workforce.
Mallanna Sasalu, CEO – South at Puravankara Limited, also views the location as an important addition to the company’s Bengaluru portfolio. The area’s track record of healthy sales velocity and consistent rental yield provides a strong foundation for new residential launches.
The announcement follows a series of land deals and joint ventures by the company across Bengaluru. In May this year, Puravankara entered into a JV to develop a 24.59-acre land parcel in North Bengaluru, with an estimated GDV of ₹3,300 crore. That development, with a total saleable area of 3.48 million sq ft, is expected to hit the market between November and December 2025.
Earlier this year, the company also acquired a 3.63-acre parcel on Kanakapura Road in South Bengaluru. That project is estimated to have a GDV of over ₹700 crore. These developments are part of Puravankara’s broader plan to consolidate its position in Bengaluru’s key residential submarkets through both outright land acquisitions and joint development agreements.
In addition to its activities in Bengaluru, the company is also expanding in Mumbai. In early 2025, Puravankara announced the redevelopment of eight housing societies in Chembur, with an overall GDV of approximately ₹2,100 crore. The Chembur project is expected to bring a mix of residential and community-centric formats to one of Mumbai’s prominent suburban zones.
The Balagere project adds to the developer’s growing pipeline in East Bengaluru, a region that continues to attract attention due to upcoming metro connectivity, expansion of IT infrastructure, and relative affordability compared to core city zones. The location also benefits from access to schools, hospitals, and arterial roads such as the Outer Ring Road and Sarjapur Road.
With ongoing projects across multiple Bengaluru corridors and new ventures outside the city, Puravankara is expected to maintain an active development cycle over the next 12–18 months. The new project at Balagere will likely contribute to the company’s residential offerings in the premium segment while leveraging the location’s long-term growth potential.
