Puravankara Limited chose the DMIC Industrial Township in Greater Noida as the site of its first project in the National Capital Region. Bengaluru-based Puravankara Ltd announced its entry into the Delhi-NCR real estate market, acquiring a 13.44-acre land parcel in Greater Noida for Rs 340 crore through its subsidiary, Prudential Housing and Infrastructure Development Limited. The land was allotted to Puravankara's wholly-owned subsidiary, Prudential Housing and Infrastructure Development Limited, through an e-auction conducted by DMIC Integrated Industrial Township Greater Noida Limited. The acquisition marks Puravankara's largest land transaction in FY27 so far and forms part of its broader push into high-growth residential markets beyond its traditional strongholds in southern and western India.
The parcel has a saleable potential of Rs 4.57 million sq. ft. and an estimated Gross Development Value (GDV) of approximately Rs 5,200 crore. The developer intends to position the project as a premium high-rise residential township, leveraging connectivity via the Yamuna Expressway and proximity to the upcoming Noida International Airport. Placing this deal in the context of the company's other current activity, the developer's FY27 business development pipeline across Delhi-NCR, Mumbai and Bengaluru now spans about 10.74 million sq ft of saleable area and an estimated GDV of ₹14,100 crore, according to its stock exchange filing.
Ashish Puravankara, the company's Managing Director, framed the decision in terms of timing and readiness rather than opportunism: "NCR is one of India's largest and most dynamic real estate markets, and we have been deliberate in identifying the right opportunity to establish our presence here. Greater Noida offers the combination of scale, infrastructure momentum and long-term demand that we look for when entering a new geography." Rajat Rastogi, the company's CEO for West and Commercial Assets, added that "Greater Noida presents a compelling opportunity for Puravankara to establish its presence in NCR at a meaningful scale. The region is seeing strong infrastructure-led growth, expanding economic activity and improving connectivity, creating a favourable environment for long-term residential demand."
DMIC Industrial Township is not a conventional residential colony but a planned node under the national Delhi Mumbai Industrial Corridor programme. DMIC Integrated Industrial Township Greater Noida Limited (DMIC IITGNL) is a SPV Company between Greater Noida Industrial Development Authority (GNIDA) and National Industrial Corridor Development and Implementation Trust (NICDIT) for development and operation of Integrated Industrial Township, Multi Modal Logistics Hub and Multi Modal Transport Hub at Greater Noida under the Delhi Mumbai Industrial Corridor Project of the Government of India. Within its footprint, IITGN comprises a total area of 302.06 hectares (747.50 acres) with industrial land accounting for 50.78%, commercial/mixed-use land for 5.83%, residential Group Housing and EWS Housing land for 11.13%, and green open space for 15.76%. That land-use mix is precisely why the residential component here is scarce and sought after: a builder acquiring group-housing land inside an SPV-run industrial township is competing for a deliberately limited slice of a much larger, jobs-anchored master plan, rather than for open farmland converted for housing.
Puravankara was established in 1975 by Ravi Puravankara and is headquartered in Bangalore. It operates in the residential and commercial sectors, having developed projects in Bengaluru, Chennai, Kochi, Coimbatore, Pune, Mumbai, Dubai and Colombo. Over five decades the group built out two additional brands alongside its namesake luxury label: Provident Housing Ltd., a wholly owned subsidiary launched in 2008, addresses the needs of mid-income homeowners, while Purva Land handles plotted developments. That structure is relevant to how a Greater Noida buyer should read this entry: the group is using its main Puravankara brand, through the Prudential Housing subsidiary, for a premium high-rise product rather than routing the site into its mid-income or plotted labels, signalling how it wants the NCR debut positioned. The entry into Delhi-NCR marks a significant step in Puravankara's strategy to expand into high-growth residential markets beyond Southern and Western India, leveraging its strong brand and five-decade legacy of trust, quality and execution.
The township's residential land draws its value from two pieces of regional infrastructure rather than from any single amenity nearby. The Yamuna Expressway connects Greater Noida with Agra through a 165 km controlled expressway, while the airport adds a major aviation-led economic centre to Delhi NCR. Noida International Airport (DXN) was inaugurated by PM Modi on March 28, 2026, and has received its aerodrome license. Beyond road and air links, a planned high-speed metro and the Ghaziabad-Jewar RRTS, targeted for 2027, are expected to enhance accessibility and drive demand in the wider corridor. Employment-side demand is also building around the same stretch: YEIDA's Fintech City and SEZs planned for Japanese and Korean firms are attracting global investors to the belt in which the DMIC township sits.
Puravankara's entry lands in a corridor that has already re-rated sharply. Average Yamuna Expressway property prices for apartments hover around ₹10,200 per sq ft as of 2025-26, versus under ₹4,000 per sq ft in 2020, with apartments up about 158% and plots up nearly 536% since 2020. Forecasts for the next phase remain upward, with market experts forecasting an additional 20 to 30 percent price rise along the Yamuna Expressway corridor in 2026 to 2027, driven by the shift from speculative premium to operational premium. For a developer entering at this stage, the combination of an SPV-controlled, land-use-restricted residential allotment and an infrastructure cycle that is now operational rather than promised is the underlying rationale the company's own executives cited when explaining the acquisition.
No specific tower configuration, unit pricing, or launch date has been announced for the DMIC Industrial Township site; the company has so far confirmed the land parcel, its cost, its saleable area, and its intended positioning as a premium high-rise residential development. Buyers tracking Puravankara in this micro-market are effectively tracking the earliest phase of a company that, after fifty years of building primarily in Bengaluru, Chennai, Kochi, Coimbatore, Hyderabad, Mumbai and Pune, is using this specific plot as its opening statement in Delhi-NCR.