Puravankara enters Mangalore with affordable homes

Named Skyworth, two bedroom apartments of 1,091 sq ft would cost Rs 39.22 lakhs

Provident Housing Limited, the wholly-owned subsidiary of real estate developer Puravankara Projects Limited, is planning to enter the Mangalore market. The Bangalore-based company is set to launch a property at Derebail, near Konchady in Mangalore.  

The new project named as Skyworth entails two bedroom apartments of 1,091 square feet priced at Rs 39.22 lakhs and three bedroom apartments of 1377 square feet, priced at Rs 48.07 lakhs.

Jackbastian K Nazareth Group CEO of Puravankara said: “The provident proposition with its dual emphasis on affordability and quality has been extremely well received in other markets. The sizeable middle class presents a significant opportunity for real-estate development.”

The company launched its affordable housing subsidiary in 2008 has already established its presence in the real estate markets Bangalore and Chennai. The company also said since its inception in 2008, Provident has sold 4,800 apartments and handed over keys to 1,100 owners.

It is also planning to similar initiatives in cities like Mumbai, Delhi, Hyderabad, Coimbatore, Mysore, Pune, Baroda, Ahmadabad, Kolkata, Nagpur and Jaipur.