India, Sept. 1 -- Bengaluru-based listed developer Puravankara Limited announced on September 1 that it has acquired redevelopment rights for a prime residential society in South Mumbai's Malabar Hill through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd. The 1.43-acre project offers a development potential of 0.7 million sq ft, with a gross development value (GDV) of Rs.2,700 crore.

The company stated that the project will be an exclusive residential enclave that aims to redefine luxury living in the city.

"We are delighted to make our foray into Malabar Hill, one of Mumbai's most prestigious addresses. This redevelopment project reflects our commitment to creating world-class homes while contributing to the evolving urban fabr...