Congress MP Karti Chidambaram on Saturday reacted sharply to reports of Infosys selling a 53.5-acre land parcel in Anekal, near Bengaluru, to real estate developer Puravankara for Rs 250 crore.
Citing a report by The Times of India, Chidambaram questioned the legitimacy of the transaction, suggesting the land may have originally been allotted at concessional rates for a specific purpose. “If the land was given at a concession for a specific purpose and the land wasn’t utilised for that purpose Infosys has no right to sell it for a commercial rate today. Return the land and proceeds to the Government of Karnataka,” he posted on X. The Congress MP was responding to a post shared by the Karnataka Development Index handle on the social media platform.
Land deal part Puravankara’s expansion plan
The reported transaction involves a land parcel located in Attibele Hobli, close to the Bengaluru-Tamil Nadu border. According to the report, the deal is valued at around Rs 250 crore and marks a significant addition to Puravankara’s land bank in the Bengaluru region.
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Puravankara has said the acquisition fits into its broader strategy of expanding across key micro-markets in Bengaluru, driven by improving infrastructure, enhanced connectivity and sustained demand from end users. In a stock exchange filing, Puravankara Managing Director Ashish Puravankara said the purchase was part of the company’s ongoing efforts to systematically add high-quality developable land to its launch pipeline across strategic locations, the ToI report stated.
We reached out to Infosys for a statement on the matter. The report will be updated upon receiving their response.
Puravankara’s land bank expands, GDV nears Rs 14,000 cr
The Attibele Hobli land parcel is estimated to have a saleable area of around 6.4 million square feet, with a potential gross development value (GDV) exceeding Rs 4,800 crore. Puravankara’s CEO–South, Mallanna Salasu, was quoted as saying by Times of India that prior to this acquisition, the company had added 6.3 million square feet of developable area in Bengaluru and Mumbai during the first half of FY26, with an estimated GDV of Rs 9,100 crore.
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With the addition of the Infosys land parcel, Puravankara’s total developable area for the year so far rises to about 12.7 million square feet, taking the cumulative potential GDV to nearly Rs 13,900 crore, the report further read. |
