Puravankara Projects plans to launch a 6-million sq ft residential township on 60 acres in Bangalore. The township is expected to generate Rs 2,500 crore in revenue.

The project, ‘Provident Sunworth’, will have two BHK units (883 sq ft) priced at Rs 29.75 lakh and three BHK (1,082 sq ft) priced at Rs 35.96 lakh, all inclusive.

Overall, 5952 apartments will be built over a period of five years by Provident Housing, a wholly-owned subsidiary of Puravankara Projects. The development is located off Mysore Road, near the Bangalore-Mysore Infrastructure Corridor ring road junction.

EXPANSION PLANS

Puravankara Projects is set to launch 5.97 million sq ft over the next six months, said Ashish Puravankara, Joint Managing Director, Puravankara Projects, here on Thursday.

Madhu V, Managing Director, Provident Housing Ltd, said, “The group’s immediate expansion plans include launches in Mangalore, Coimbatore, Hyderabad, Mysore and Chennai besides the addition of two more projects in Bangalore. Future markets of interest are New Delhi, Mumbai, Pune, Ahmadabad, Baroda, Kolkata Nagpur and Jaipur.”

The company is currently negotiating for a few land parcels in Navi Mumbai and NCR region. In Mumbai, one will be a joint development and the other an outright proposition, Puravankara said. Puravankara established the Provident brand in 2008 to offer ‘premium affordable’ housing. Since its inception in November 2008, Provident has sold over 4,000 apartments and handed over keys to about 1,000 owners.

shanker.s@thehindu.co.in

(This article was published on December 13, 2012)
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