Puravankara Projects Limited is a Bangalore-based real estate developer who has planned to introduce a luxury residential township stretched on over 6 million sq. ft. of landscape in Bangalore. The developer has expected to make it a huge revenue source of at least Rs. 2500 crores.
It is going to launch “Provident Sunworth” which will consist of 883 sq. ft. of 2 BHK units that are priced at around Rs. 29.75 Lakh and 1082 sq. ft. of 3 BHK units which are priced at around Rs. 35.96 Lakh.
Over the 5 years of period, there will be 5952 apartments to be built by Provident Hosing, owned by Puravankara Projects. The site of township project is positioned near Bangalore-Mysore Infrastructure Corridor and off Mysore Road.
Puravankara Plans for Expansion
The developer is all set to introduce the project within next 6 months which would be stretched on around 5.97 million sq. ft, according to Joint Managing Director, Puravankara Projects, Ashish Puravankara on Thursday.
According to Managing Director Madhu V of Provident Housing Ltd, the immediate expansion plans of the group covers launching in Coimbatore, Mangalore, Mysore, Hyderabad and Chennai along with two major projects in the city of Bangalore. In future, they will place their interest on Mumbai, Pune, New Delhi, Baroda, Ahmadabad, Nagpur, Kolkata and Jaipur.
Currently, the company is trying to negotiate for a handful of land parcels in NCR region and Navi Mumbai. One project from Puravankara Projects shall be a joint venture in Navi Mumbai and another will be an outright proposition. In the year 2008, Puravankara Projects initiated the brand Provident to provide premium yet affordable housing. Since November 2008, around 4000 apartments have been sold by Provident and over 1000 homeowners have got the keys.
Puravankara Projects has also introduced the project in Rajajinagar which is the entry-level residential project on the Central West Bangalore. It will consist of 300 units of 2 to 3 BHK units stretched around 4 Lakh sq. ft. The 2 BHK units will have the sizes ranging from 1200 sq. ft. to 1408 sq. ft. and 3 BHK units from 1600 sq. ft. to 1792 sq. ft.
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