Puravankara Enters Plotted Development Business

Realty firm Puravankara Ltd has entered into plotted development segment and will sta

BY Realty Plus
Published - Tuesday, 02 Mar, 2021

Puravankara Enters Plotted Development Business

Realty firm Puravankara Ltd has entered into plotted development segment and will start six projects over the next 6-7 months with an investment of about Rs 825 crore, as it seeks to tap the rising demand of plots. To begin with, the company, a leading real estate firm in South and West India, will launch around 5.5 million sq ft area across six projects in Bengaluru, Chennai and Coimbatore where it will offer plots. The company will be launching six projects over the next six-seven months, he said. Land parcels have already been tied up, while the design and approval process is on, Ashish added. Out of six projects, three would be launched in Bengaluru, two in Chennai and one in Coimbatore. Land parcels for four projects are fully owned by the company, while two projects are in the joint venture. The company sells luxury homes under 'Puravankara' brand and premium affordable housing under 'Provident' brand. The total project cost for these six projects under 'Purva Land' is estimated at Rs 825 crore. To expand the plotted development business, Puravankara is looking for more land parcels across various cities.