India, July 7 -- Bengaluru-headquartered listed real estate developer Puravankara Limited announced on July 7 that it has been selected as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai.

The project, spread across four acres, will offer a development potential of 1.2 million sq ft and is expected to generate a gross development value (GDV) of Rs.2,100 crore.

According to the company, this announcement follows Puravankara's previous acquisitions of development rights for prestigious redevelopment projects in Mumbai's Breach Candy, Pali Hill, and Lokhandwala.

These projects reflect Puravankara's growing footprint in the redevelopment segment in the western region, underscoring its commitme...