Puravankara forays into plotted property development

Puravankara Projects has planned to launch 5.5 mn sqft plotted development across Bangalore, Coimbatore and Chennai, apart from venturing into Pune, Hyderabad and Mumbai, under its subsidiary Purva Land. The company will focus on developing plotted development projects across the existing micro-market on its own and under the joint development model apart from expanding affordable and luxury homes projects. Ashish R Puravankara, MD of Puravankara, informed that the company has completed and delivered 40 mn sqft of the project and has around 21 mn sqft of projects under development across residential and commercial segments. The home buyers have realized the importance of owning a home now. The builder plans to launch 9mn sqft of residential assets over the next 12 months with its affordable housing arm, provident brand accounting for 82% of the launch pipeline.