Puravankara has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, marking its eighth redevelopment project in Mumbai. Announced on September 17, 2026, the proposed development spans 4.68 acres and has an estimated development potential of around 1.05 million sq ft, with a projected gross development value of Rs 2,600 crore. The project was also included in the company’s Q2 FY27 operational update released on October 13.
The development remains at the initial stage, with construction yet to begin. The societies must complete the necessary agreements and obtain regulatory approvals before the project can progress towards launch.
Bangur Nagar currently records average property rates of approximately Rs 30,200 per sq ft, compared with around Rs 33,400 per sq ft across Goregaon West. Prices in the wider locality have increased by about 5.3% over the past year. The redevelopment could eventually introduce modern housing options and influence how buyers assess older properties in surrounding areas.
The proposed project is expected to attract interest from buyers considering 2, 3 and 4 BHK homes. However, its final configuration, carpet areas, pricing and launch schedule will become clearer after approvals and MahaRERA registration.
Puravankara’s Mumbai strategy relies significantly on redevelopment in established neighbourhoods. Its Lokhandwala Circle project in Andheri West reportedly sold 85% of its first-phase inventory, generating more than Rs 800 crore in sales. However, the company’s wider Mumbai portfolio is still relatively new, making delivery timelines and construction quality important considerations for prospective buyers.
The 4.68-acre Bangur Nagar site benefits from access to the Metro, Western Express Highway, Film City and Aarey Colony. Nearby residential markets, including the Link Road corridor and Shastri Nagar, could also see increased comparisons with the proposed development.
The next steps include formal agreements, statutory approvals and MahaRERA registration. Buyers should verify sanctioned plans, project timelines, carpet areas and applicable charges before booking. Until official pricing and registration details emerge, early market estimates should be treated cautiously.
Source: Realty Promo
