PURAVANKARA BREACH CANDY REDEVELOPMENT — New Project Coming Up in Breach Candy, Mumbai

Puravankara Enters South Mumbai Luxury Market with Breach Candy Redevelopment

Puravankara announced in September 2024 that it has secured redevelopment rights of Miami Apartments at Breach Candy in South Mumbai. The project spans approximately 2,000 square metres of land and marks the developer's entry into the uber-luxury South Mumbai market, where property rates are estimated in the range of Rs 1,25,000 and Rs 1,40,000 per square foot.

Project Overview

The redevelopment will replace the iconic Miami Apartments, a former residential property in Breach Candy. Redevelopment projects in old South Mumbai buildings typically involve rehousing existing society members alongside new sale inventory, which affects timelines, approvals, and the eventual unit mix.

The project offers 3 BHK and 4 BHK ultra-premium luxury apartments.

Location and Connectivity

Breach Candy is renowned for its scenic views of the Arabian Sea, proximity to major landmarks, and elite residential and commercial infrastructure. The area is well-connected through major roads such as Peddar Road, Bhulabhai Desai Road, and Nepean Sea Road, offering seamless access to both South and Central Mumbai. The Grand Road and Mumbai Central Railway stations are nearby, making train travel hassle-free for residents.

Metro Line 3 (Aqua Line) will include a station at Mahalaxmi within a kilometer of Breach Candy.

Puravankara's Mumbai Strategy

Founded in 1975 and headquartered in Bangalore, Puravankara Limited has delivered more than 100 landmark projects across Bangalore, Mumbai, Pune, Chennai, Kochi, and Coimbatore. The company has expanded its footprint in Lokhandwala, Andheri West, where it previously acquired redevelopment rights for two societies on 3 acres of land in November 2023 and has since been chosen as the preferred developer for an additional 1.3 acres, forming a 4.3-acre project. This announcement follows Puravankara's previous acquisitions of development rights for prestigious redevelopment projects in Mumbai's Pali Hill and Lokhandwala.