Indian Real Estate

Puravankara's Impact on Mumbai's Urban Transformation


03, December 2025

Puravankara, one of India's premier real estate developers, made significant progress in the redevelopment space with its latest venture in Mumbai. The organization has secured the redevelopment rights of Miami Apartments in Breach Candy, marking its first move into South Mumbai's luxury market. This move is part of Puravankara's broader strategy to expand its presence in Mumbai, as well as other major cities like Bangalore, indicating the company's commitment to strengthen its position as a prominent player in the Indian real estate sector.

In today's blog, let's dive into Puravankara's strategic expansion and its impact on luxury real estate.

Redevelopment of Miami Apartments in Breach Candy, Mumbai

Breach Candy, one of the most expensive and prominent areas of Mumbai, is recognized for its diversity, historic charm, and expensive real estate prices.

Securing the development rights for Miami Apartments is a major milestone for Puravankara, as the project lies on a 2,000 square-meter parcel of land where the real estate prices are anticipated to range from Rs 1,25,000 to Rs 1,40,000 per square foot.

This redevelopment project is seen as Puravankara's strategic move into South Mumbai's high-end residential sector, which is well-known for its ultra-luxury buildings. Puravankara's Miami Apartments seeks to create a new standard for luxury living by creating spectacular properties that meet the criteria of this prominent location.

Speaking about this development, Ashish Puravankara, the Managing Director of Puravankara Ltd., stated- “Our entry into South Mumbai with the redevelopment of Miami Apartments at Breach Candy marks a significant milestone for Puravankara. This project showcases our commitment to deliver unparaleled luxury and indicates our vision to create iconic living spaces in the most desirable locations. Also, we are excited to bring our expertise to South Mumbai and redefine the standards of luxury living in this prestigious neighborhood while strengthening our presence in other markets.”

The redevelopment of Miami Apartments is set to boost the luxury aspect in South Mumbai, providing residents with a combination of modern design, world-class amenities, and spectacular vistas, catering to the area's premium individuals.

Consider reading: Ultra Luxury Apartments in Bangalore-Next Level Living Spaces

GRC Shreekrish - Homes247.in

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Expanding Footprint in Andheri, West

In addition to its arrival in South Mumbai, Puravankara has been rapidly expanding its presence in other important areas of Mumbai. Notably, the business has acquired redevelopment rights in Lokhandwala, Andheri West, one of the city's bustling micro markets. Puravankara obtained rights to two housing societies spanning around three acres in November 2023. This was the company's initial entry into the Lokhandwala area.

However, the company did not stop there. It was recently chosen as the preferred developer for an additional four societies in the same area, with a total land size of around 1.3 acres. Combining these acquisitions, Puravankara currently holds redevelopment rights for roughly 4.3 acres of property in Andheri West. This region's market rates range from Rs 40,000 to Rs 45,000 per square foot, making it ideal for luxury residential and commercial buildings.

Rajat Rastogi, CEO - West & Commercial Assets, Puravankara, expressed optimism about the company's growing influence in Mumbai, saying, "The addition of new redevelopment projects in Breach Candy and Andheri West further strengthens our portfolio in Mumbai and highlights our growing role in the city's real estate transformation. Our dedication to design excellence, transparency, and punctuality solidifies Puravankara's status as a reliable partner for society redevelopment initiatives. We will continue to focus on acquiring major assets in MMR and Pune."

Strategic Expansion in Bangalore

While Puravankara's expansion into Mumbai is remarkable, the company has also increased its footprint in Bangalore, its home market.

Puravankara has signed a joint development agreement (JDA) for a 1.95-acre property in the Electronics City micro-market, next to its landmark Purva Westend project. This new property is located just 100 meters from the Kudlu Gate Metro Station, with a profitable area of 260,000 square feet.

Electronics City is one of Bangalore's most vibrant areas, recognized for its technoparks, hospitals, and schools, as well as its quickly expanding connectivity to the other parts of the city. Puravankara and other developers find this region's real estate values, ranging from Rs 12,000 to Rs 14,000 per square foot, a profitable market.

Puravankara has the potential to continue providing high-quality residential complexes in Bangalore, catering to the city's rising IT professionals and affluent buyers.

Puravankara’s Redevelopment Vision

Puravankara's redevelopment projects in Mumbai and Bangalore are part of a larger vision to capitalize on great metropolitan areas and turn them into luxury living environments. The company's venture into South Mumbai, with the redevelopment of Miami Apartments, demonstrates its goal to create iconic, ultra-luxury residences in India's most desirable areas.

In addition to its focus on Mumbai, Puravankara continues to maintain its leadership in Bangalore, where it has completed multiple successful projects over the years. The joint development agreement in Electronics City emphasizes the company's commitment to offer high-quality houses in strategic areas with exceptional connectivity and facilities.

The developer's expansion plan demonstrates its trust in India's real estate industry, particularly in high-demand micro-markets where luxury living is prioritized. Puravankara's acquisition of premier redevelopment projects not only strengthens its portfolio, but also contributes to the change of urban landscapes in significant cities.

Final Thoughts

Puravankara's recent ventures, like as the Miami Apartments development in Breach Candy and expansions in Andheri West and Bangalore, demonstrate the company's growth strategy in ultra-luxury real estate. Puravankara, with an emphasis on landmark projects, design quality, and transparency, is well-positioned to continue playing an important role in India's real estate development.

Also read: Top 10 Real Estate Builders and Developers in Bangalore

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GRC Shreekrish - Homes247.in

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