Ravi Puravankara Acquires ₹242 Crore Worth of Commercial Property in Mumbai

Ravi Puravankara, Founder and Chairman of Puravankara Ltd, has acquired 12 commercial units in Business Park 2, located in Marol, Andheri, Mumbai. The total transaction value amounts to ₹242 crore, according to documents accessed by CRE Matrix. The purchases were executed through 12 separate transactions.

The acquisition includes three units, each spanning 9,998 sq ft, purchased at ₹23.19 crore per unit. Another three units, each covering 9,109 sq ft, were acquired for ₹21.13 crore per unit. Additionally, three more units, each measuring 8,939 sq ft, were bought for ₹20.73 crore per unit. The remaining three units, with an area of 6,749 sq ft each, were purchased for ₹15.65 crore per unit. The transactions were carried out under the name of RockFort Estate Developer Pvt Ltd.

According to sources, the acquisitions were made by the family office for investment purposes. The commercial real estate market in Mumbai, particularly in established business districts such as Andheri, has continued to attract investors due to strong infrastructure and accessibility. The Marol area in Andheri has witnessed steady demand for office spaces, driven by its connectivity to the metro and proximity to key commercial hubs.

This transaction reflects a growing trend of high-value investments in commercial real estate. The Andheri market has been a preferred choice for businesses and investors due to its strategic location and availability of Grade A office spaces. The demand for commercial properties in Mumbai has been resilient, with increasing interest from institutional and private investors looking for stable assets.

The commercial real estate sector in Mumbai has seen continued expansion, with companies and investors focusing on well-connected areas that offer long-term growth potential. With businesses resuming full-scale operations and increasing demand for office spaces, commercial hubs like Marol continue to attract significant investment. Large transactions such as this indicate confidence in the sector’s future performance and underline the importance of strategic location in real estate investments.