Provident Housing Limited, a wholly owned subsidiary of Puravankara Projects Limited, is set to launch India’s largest residential township project. ‘Provident Sunworth’ is a 6 million square feet project spread over 60 acres, located off Mysore Road near the NICE ring road junction in Banglore. The company is embarking on similar initiatives in other cities across the country, including Mumbai and Delhi. Puravankara’s Provident brand set up in 2008, was a response to a burgeoning demand for mid-income housing. These are premium homes built to sell at affordable prices, following a value-engineering process that reins in costs.
The new project, Provident Sunworth, encompasses 2 BHK units priced at Rs.29.75 lakhs and 3 BHK priced at Rs.35.96 lakhs, all inclusive. The projects are equipped with multiple club houses, swimming pools, gymnasium, walking tracks, landscaped gardens, play areas, super markets et al. Commenting on the plans, Ashish Puravankara, joint managing director, Puravankara Projects Ltd., said, “While the premium housing segment was the driver of real-estate sector growth in the past decade, I am convinced that the premium affordable housing segment will be the catalyst of growth in the coming years.”
Madhu V, Managing Director, Provident Housing Limited added “The group’s immediate expansion plans include launches in Mangalore, Coimbatore, Hyderabad, Mysore and Chennai besides the addition of two more projects in Bangalore.