KVN Property and Puravankara Partner for Rs 3,300-Crore Housing Project in North Bengaluru
Bengaluru, May 10 – Real estate firm KVN Property Holdings LLP has joined hands with leading developer Puravankara Ltd to develop a large-scale housing project in North Bengaluru, with an estimated revenue potential exceeding Rs 3,300 crore.KVN Property Holdings, founded by Venkat K Narayana, former CEO of Prestige Group, announced the strategic joint venture on Saturday. The collaboration will focus on developing a 24.59-acre land parcel in one of the city’s fastest-growing corridors.
According to the companies, the project will offer a saleable area of approximately 3.48 million sq ft (34.8 lakh sq ft) and is expected to launch within the next six months. The development boasts a projected Gross Development Value (GDV) of over Rs 3,300 crore.
Strategic Location and Market Demand
Ashish Puravankara, Managing Director of Puravankara Ltd, emphasized the importance of the venture:"This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction."
Venkat K Narayana, Promoter of KVN Properties, said the initiative aligns with the firm’s mission to streamline real estate development:
"Our core strength lies in identifying and consolidating strategic land parcels across high-growth corridors. This JV for our 24.59 acres of land with Puravankara has huge demand for mid-income residential housing."
He added that KVN's approach of aggregating clean, contiguous, and development-ready land helps reduce project risks and accelerates developers' execution timelines.
Puravankara’s Expanding Portfolio
Puravankara Ltd, a prominent name in India’s real estate sector, has completed over 85 projects spanning 51 million sq ft across major cities including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.As of December 31, 2024, the company held a land bank of approximately 30 million sq ft and had ongoing projects covering 33.08 million sq ft.
The partnership between KVN Property and Puravankara marks a significant step in addressing housing demand in North Bengaluru, positioning the project as a key contributor to the city’s residential growth.