Puravankara Acquires 9.73-Acre Land in North Bengaluru for ₹800 Cr GDV
Puravankara Expands North Bengaluru Footprint with Sanna Ammanikere Acquisition
Puravankara Limited has acquired a 9.73-acre land parcel at Sanna Ammanikere in North Bengaluru's fast-developing airport corridor. The outright acquisition has a development potential of approximately 0.89 million sq ft, with an estimated gross development value (GDV) of ₹800 crore.
The acquisition, announced on June 17, 2026, reinforces Puravankara's strategy of strengthening its presence across high-growth micro-markets. The acquisition reinforces Puravankara's strategy of strengthening its presence across high-growth Bengaluru micro-markets through a balanced mix of outright purchases and capital-efficient partnerships.
Location and Strategic Context
The land parcel is located in the Devanahalli growth corridor, with connectivity to Kempegowda International Airport and access to key employment hubs. Once primarily Bengaluru's airport suburb, Devanahalli is now emerging as one of India's most closely watched urban expansion corridors. As infrastructure projects, industrial investments and deep-tech ambitions accelerate across North Bengaluru, Devanahalli is increasingly being discussed as Bengaluru's potential equivalent of Gurugram.
The region continues to benefit from the northward expansion of Bengaluru's technology, aerospace, logistics and commercial ecosystems, supported by major infrastructure developments such as the Airport Metro, Satellite Town Ring Road, Aerospace Park and Airport City.
Infrastructure and Connectivity
The Satellite Town Ring Road (STRR), which is officially designated as NH-948A, is a 280.8 km expressway which is access-controlled. It is developed under the Bharatmala Pariyojana by NHAI. Phase 1, an 80 km stretch, was inaugurated in 2024, with further sections expected by 2026–27.
The Bengaluru Suburban Rail Project (BSRP), spanning 149 km, is currently 22 percent complete. Corridor one, linking Yelahanka to Devanahalli, is expected to finish by December 2026.
Kempegowda International Airport (KIA) handles ~50 million passengers annually and is currently expanding. Devanahalli is just 10-15 minutes from the airport and the airport-adjacent real estate globally are consistently appreciating making it a prime investor choice.
Developer Context
Founded in 1975, Puravankara Limited is one of India's most admired and trusted developers among the top real estate companies in India. The Company has its headquarters in Bengaluru. For five decades, the brand has been built on an unwavering commitment towards customer delight, responsibility, and trust.
With a family of 55,000+ happy residents, the company's mammoth scale of development is evidenced by its track record of ~20 million square feet of projects: ~12.8 million square feet completed and ~7.2 million square feet of ongoing projects.
The announcement follows Puravankara's recent acquisitions and joint development agreements across key Bengaluru micro-markets, including Hennur Road, Mandur, and Doddagubbi, further strengthening its development pipeline in the city.