Puravankara Re-enters Mumbai with its First Ultra-Luxury Project in the City
The new project will be offered under the company’s World Home Collection.
To kick off its national expansion plan, Puravankara Limited launches its first ultra-luxury project in Mumbai, ‘Purva Clermont’. This
venture will mark its re-entry in the city and its maiden foray into
the ultra-luxury category under the WorldHome Collection in the Mumbai
Metropolitan Region (MMR). WorldHome Collection is the new range of
ultra- Luxury homes by Puravankara Limited. Through this ambitious
project, the company aims to provide sustainable, futuristic and
exclusive homes designed by world-renowned architects. Puravankara has
invested almost INR 500 crore with a top-line expectation of nearing INR
1000 crores. The development will see four towers with a total of 233
residential unit and one tower of 79 commercial units.
The ever-growing real estate market of Mumbai has been instrumental in the horizontal and vertical expansion of the city. The last few months have witnessed a steady growth in the luxury housing segment, which is indicative of a shift in the post-pandemic consumer behaviour. Leveraging this shift and latent demand, Puravankara believes this is the right time to bring their ultra-luxury World Home Collection homes to Mumbai. This is a novel concept that is aimed at providing exclusivity with inclusivity – which is the genesis of World Home Collection.
Speaking to the media, Mr. Ashish R. Puravankara, Managing Director, Puravankara Limited said “The gradual recovery of the economy has revived the demand within the real estate sector. We strongly believe that the current landscape is ideal for us to strengthen our presence in Mumbai, which is one of the largest growing real-estate markets in the country. Our new project will be an extension of our larger vision and a step towards creating a new landmark in the city of dreams. On a personal note, I am happy to see our foray back into Mumbai, where it all began in 1975. We are confident that our legacy of more than four decades will bring in superior quality, the strength of consistency, timely delivery and innovation to the Mumbai residential market.”