KVN Property Holdings LLP, an associate of Puravankara Limited, has received registration certificates from Karnataka Real Estate Regulatory Authority (KRERA) for launching Project Northern Lights in Bengaluru. The company issued a revised intimation under Regulation 30 of SEBI Listing Regulations, announcing the launch of Phase 1 scheduled for March 14, 2026.

Project Registration and Launch Details

The residential project has secured KRERA registration across all three phases, with each phase receiving distinct registration numbers. The development is strategically located at Plot No. R-12 of Hitech, Defense and Aerospace Park in Bengaluru North.

Project Location and Specifications

Project Northern Lights is positioned as a residential development catering exclusively to the domestic market. The project spans across Sy No. Part of 417, 4 Bagalur Village Jala Hobli, Bengaluru North Yelahanka Taluk, Bengaluru Urban District, Karnataka.

Regulatory Compliance and Documentation

The KRERA registration ensures full compliance with Karnataka's real estate regulatory framework, providing transparency and oversight for the development. Complete project details are accessible on the RERA website at rera.karnataka.gov.in/projectViewDetails, offering comprehensive information to potential homebuyers and stakeholders.

Strategic Development Framework

The three-phase development structure demonstrates a systematic approach to project execution within the Hitech, Defense and Aerospace Park. This phased methodology enables effective resource management and structured delivery of the residential development, positioning the project within Bengaluru's growing northern corridor.

Puravankara has announced its entry into a joint development project on Hennur Road in Bengaluru, with an estimated gross development value (GDV) of over ₹1,300 crore. The company has entered into joint development of a 4-acre land parcel that offers a total saleable area of approximately 0.84 million square feet, representing a significant expansion in one of Bengaluru's key growth corridors.

Project Specifications

The development project is strategically positioned on Hennur Road, benefiting from proximity to major tech parks and well-established social and physical infrastructure. The project aligns with Puravankara's strategy of expanding through asset-light partnerships in high-potential micro-markets.

Management Commentary

Ashish Puravankara, Managing Director of Puravankara Limited, highlighted the strategic importance of the location, stating that North Bengaluru has emerged as a key growth corridor driven by proximity to Kempegowda International Airport, expanding tech parks, and improving connectivity. He emphasized that Hennur Road has seen steady traction from homebuyers due to its access to employment hubs and well-developed social infrastructure.

Mallanna Sasalu, CEO - South at Puravankara Limited, noted that the project reflects the company's continued focus on expanding presence across high-demand residential corridors through capital-efficient partnerships. He expressed confidence in strong buyer interest and expects to bring the project to market within the next 6-12 months.

Strategic Portfolio Expansion

This announcement is part of Puravankara's broader expansion strategy in Bengaluru. The company has strengthened its growth pipeline through several strategic acquisitions, including a 53.5-acre land parcel in Anekal Taluka with development potential of 6.4 million sq ft and estimated GDV of over ₹4,800 crore, and a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru with development potential of 3.48 million sq ft and GDV of over ₹3,300 crore.

Market Positioning

The joint development demonstrates Puravankara's commitment to Bengaluru's residential market, which continues to show resilience supported by strong employment growth, infrastructure investments, and sustained housing demand. The Hennur Road location offers robust connectivity and access to employment centers, making it an attractive destination for residential development in the North Bengaluru corridor.