Puravankara Enters into Joint Development Agreement in Shil Phata, Mumbai

Puravankara Enters into Joint Development Agreement in Shil Phata, Mumbai

Puravankara Invests Rs 350 Crore in New Affordable Housing Project in Mumbai. Real estate developer Puravankara Ltd. has announced a Rs 350 crore investment for their new affordable housing project in Mumbai. Puravankara Enters into a Joint Development Agreement in Shil Phata, Mumbai to develop an affordable housing project in Mumbai under the Provident Brand by the name of Provident Plam Vista.

Project Details:

• Project Name: Provident Palm Vista
• Location: Near Shil Phata, Mumbai
• Area: 1 million sq ft saleable area
• Segment: Affordable housing (Rs 40 lakh – Rs 80 lakh range)
• Development Model: Joint Development Agreement

Company Background:

• Provident Housing Limited, a subsidiary of Puravankara Ltd., focuses on the premium affordable housing segment.
• Since 2008, Provident has launched over 21 million sq ft of projects across various cities in India.
• Mumbai’s growing demand for branded affordable housing is a key factor behind this project.

Quote:

• Ashish R. Puravankara, Managing Director, Puravankara Limited: “We are committed to making homeownership achievable… We are excited to expand our footprint in Mumbai…”

Additional Information:

• This project aligns with Puravankara’s plan to launch 15 million sq ft of projects in FY22.
• Provident Housing will contribute 7 million sq ft, while the Puravankara brand will contribute 3.5 million sq ft.

This news indicates Puravankara’s commitment to expanding their affordable housing portfolio in Mumbai’s growing market.

 

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in