HYDERABAD, India, February 5, 2016 /PRNewswire/ --
- A Unique Book Building Process for the Very First Time in Hyderabad, Which has Been Oversubscribed by Over 2.3 Times at the Pre-launch
- Home Prices Determined by a Transparent Demand - Supply Driven Pricing Methodology
Provident Housing Ltd. a wholly-owned subsidiary of Puravankara Group, and one of the leading real estate developers in the premium affordable housing segment, announced the launch of Phase 1 of Kenworth by Provident, at PVNR Expressway, Rajendra Nagar at Hyderabad.
(Logo: http://photos.prnewswire.com/prnh/20160205/10139603 )
Provident for the very first time in Hyderabad, has introduced the innovative Book Building process. The process enables prospective customers to subscribe during the pre-launch of Kenworth by Provident, through an expression of interest within a price range set by the developer. The actual opening price for Kenworth by Provident would emerge from the inherent market determined forces of demand and supply. This transparent price discovery mechanism, also called as the EOI process, has been oversubscribed by over 2.3 times in a short period. The final launch price is expected to be announced tomorrow to buyers, who have expressed interest in buying Kenworth by Provident. This reinforces the resurgent Hyderabad residential market and more specifically, the interest from buyers for high-quality projects from reputed Grade A real estate developers, such as Provident (a Puravankara company).
Set to change the face of premium affordable housing in Hyderabad, Kenworth by Provident is an Integrated Lifestyle District providing a holistic living experience for the evolved home buyer, with fine homes, cafes, boutique shopping and smart offices within a single large campus. Kenworth by Provident is also a unique theme-based project with all its amenities inspired by Art and Sports. The project has a plethora of child development activities and the entire ecosystem has been designed to tap the budding talent among the children of today. The projects offer over 21 beginners sporting facilities ranging from athletics, boxing, archery, kabaddi, badminton, mini-hockey, mini-football, volleyball, basketball, squash, table tennis, aerobics and many more. It also provides for a Culture Club to infuse culture and experiential learning-based amenities for children, which include a mini-music studio and tinkering rooms for the inquisitive children residing in the project. The project shall have 2 and 3 BHKs along with a limited number of Kings league 4 BHK signature units, all at an expected price range of between Rs 37 lakhs to Rs 90 lakhs.
Mr. Ashish Puravankara, Managing Director, Puravankara Projects Ltd. commented, "We are glad to offer Kenworth by Provident as an Integrated Lifestyle District that will be symbolic of 'Wholesome Living'. The introduction of the Book B uilding process will help customers ascertain a fair price, in a transparent manner. We envisage that this project will overwhelm buyers with its high-quality design, finishes, features and yet, be affordable to all. The magnificent facilities will unequivocally put the required thrust on children to hone their skills and provide a foundation for his/her dreams to turn to reality. This project will be one of the largest residential launches of recent times in Hyderabad. Located in the high growth PVNR Airport Expressway along with an attractive initial pricing, makes Kenworth by Provident as one of the most attractive real estate investment opportunities in Hyderabad."
About Puravankara Projects Limited:
Puravankara Projects Limited is a leading real estate company in India, with presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad and Mysore, Mumbai and Pune. The company has 23.62 million square feet of projects under development with additional 85.83 million square feet in projected development over the next few years.
Puravankara Projects Limited is listed on the National Stock Exchange of India Limited (NSE) and the Bombay Stock Exchange (BSE).
For further information on Puravankara, please visit website: http://www.puravankara.com.
About Provident Housing Limited:
Provident Housing Ltd. is a wholly-owned subsidiary of the group. It was established in 2008, in response to the growing demand for mid-segment housing. Provident has launched 13.93 million square feet across the cities of Chennai, Bengaluru, Mangalore and Coimbatore of which 4.55 million square feet has been completed and delivered. Provident has a pipeline of 8.69 million square feet across Bengaluru and Hyderabad and these projects will be launched in the ensuing quarters. For more information on Provident, please visit http://www.providenthousing.com.
For further information, please contact:
Sowmya Shenoy
Senior General Manager - Corporate Communication
Puravankara Projects Limited
Email: [email protected]
Tel: +91-80-25321500
Mob: +91-9663699991
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