Mumbai Redevelopment
Puravankara Secures ₹2,600 Crore Redevelopment Rights in Goregaon West, Mumbai
Puravankara Limited has secured exclusive redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai. The company's eighth Mumbai redevelopment marks an estimated ₹2,600 crore Gross Development Value across a 4.68-acre site (September 2026).
| Developer | Bengaluru-based real estate developer Puravankara |
|---|---|
| Location | Bangur Nagar, Goregaon West, Mumbai |
| Land Area | 4.68 acres |
| Developable Potential | Approximately 1.05 million sq. ft. |
| Estimated GDV | ₹2,600 crore |
| Project Status | Redevelopment rights secured; pre-design and approvals phase |
| Developer's Mumbai Portfolio | Eighth redevelopment project in Mumbai |
| Locality Context | Well-established residential market with strong connectivity to key business districts and social infrastructure |
Project Overview
Puravankara Limited has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai. Spread across 4.68 acres, the project offers a total developable potential of approximately 1.05 million sq. ft. and an estimated Gross Development Value (GDV) of ₹2,600 crore.
The addition marks Puravankara's eighth redevelopment project in Mumbai and further strengthens its presence in the city's redevelopment market. With this, Puravankara's Mumbai redevelopment portfolio represents a potential GDV of approximately Rs 17,500 crore.
Status and Timeline
The project has been announced as a redevelopment rights acquisition (dated September 17, 2026). Formal project registration with the Maharashtra Real Estate Regulatory Authority (MahaRERA), design finalization, resident documentation, regulatory approvals, and possession timelines have not yet been disclosed. Interested parties should await official project launch announcements and RERA registration details.
Goregaon West: Locality Context
Located in the western suburbs, Goregaon West is a well-established residential market with strong connectivity to key business districts and social infrastructure.
Transport infrastructure: Goregaon has a top-notch physical infrastructure, with Link Road on its west side and Western Express Highway running right through on its east side. The Jogeshwari-Vikhroli Link Road (JVLR) and Western Express Highway connect the city to another part of Mumbai. It has the largest local train station, with 7 platforms allocated to the Western Line and Harbour Line stations. The Goregaon West metro station on Line 2A opened on 19 January 2023.
Planned connectivity improvements: Goregaon-Mulund Link Road (GMLR) is a 12-kilometer-long road infrastructure development project, providing a link between the western and eastern suburbs of Mumbai. When the GMLR will be operational, the travel time from Mulund to Goregaon will be reduced to 20 minutes from 80 minutes.
Social infrastructure: The area is home to schools like Ryan International School and Oberoi International School, and a college called Patkar-Varde College for higher education. The area also has some of the finest hospitals, such as Lifeline Medicare Hospital or Hiranandani Hospital. The area also has a number of malls and markets, with popular malls including Oberoi Mall and Inorbit Mall.
Puravankara's Redevelopment Strategy in Mumbai
Over the past three years, Puravankara has steadily expanded its Mumbai redevelopment portfolio across locations including Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill and Cuffe Parade.
As of June 30, 2026, the company has completed 97 projects totaling around 59 million square feet across nine cities viz., Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. Listed on NSE (PURVA) and BSE (532891), the company holds an A+ (Stable) credit rating from both ICRA and CRISIL.
Product Configuration and Pricing
Configuration and unit mix details for the Puravankara Goregaon redevelopment have not been disclosed. According to proptech platform 99acres, average property rates for flats in Bangur Nagar stood at around Rs 35,500 per square foot as of August 2026. Final unit layouts, price bands, and possession timelines will be revealed upon formal project launch and RERA registration.
Frequently asked questions
What does 'redevelopment rights secured' mean for this project?
Puravankara has been selected to redevelop three existing residential societies in Bangur Nagar, Goregaon West. This means the company has the legal authority to demolish and rebuild the sites, but formal design, regulatory approvals, and market launch are still pending. Residents of the existing societies must be rehabilitated per Mumbai redevelopment norms.
When will the project be launched for sales?
No official launch date has been announced. The project must first complete resident consultations, design finalization, and Maharashtra RERA registration before units can be offered for sale. Updates should be monitored through the developer's official channels and the fixed project pages listed below.
What is the estimated price band for units?
Pricing has not yet been disclosed. Neighbouring Bangur Nagar properties were trading at approximately ₹35,500 per square foot as of August 2026, but final price bands will depend on the project's final unit mix, amenities, and completion timeline after regulatory approval.
What is the target possession timeline?
No possession date has been announced. Redevelopment projects in Mumbai typically take 4–7 years from rights acquisition to handover, depending on resident rehabilitation, construction, and regulatory timelines. The actual timeline will be clarified upon RERA registration and project launch.
Is this project RERA-registered?
No. As of September 2026, the project has been announced as a redevelopment rights acquisition only. RERA registration will follow formal project design and regulatory filing. Homebuyers should wait for official RERA details before committing to any purchase.
Why is Puravankara focusing on Mumbai redevelopment?
Mumbai's limited supply of large land parcels makes redevelopment a strategic avenue for growth. The Goregaon West project adds another established residential micro-market to this portfolio and underscores the company's continued focus on redevelopment as a key growth engine in Mumbai.