Provident Housing Limited to invest over Rs 3800 crore to develop a residential project

economictimes.indiatimes.com:

Provident Housing Limited, a wholly-owned subsidiary of the Puravankara Group, plans to invest over Rs 3800 crore to develop a 5.8 mn sq ft residential project over the next four years, with a focus on sustainable living as it embarks on the next phase of growth. The firm will launch its first project Provident Ecopolitan with an investment of over Rs 450 crore, located in Aerospace Park in North Bengaluru. The proposed project has 956 apartments in 1, 2 and 3 BHK configurations ranging from 625 sq.

ft. to 1,427 sq. ft.

with more than 60% lung spaces. Mallanna Sasalu, Chief Executive Officer of Provident Housing Limited, said, “We are excited with the response ahead of the launch of our newest project Provident Ecopolitan, proving that a combination of a great product and the brand name continues to attract homebuyers. We have so far received an astounding response to the expressions of interest (EoIs) opened to the market since receipt of RERA on 11th August.

We strive to provide our potential residents with a lifestyle that meets luxury paired with a greener building philosophy. This project also allows its residents to access the city’s biggest tech parks, making it a viable location for all types of homebuyers. At Provident Housing, we are dedicated to providing world-class amenities and thoughtfully designed plans for our customers, and this project will serve as a forerunner in adopting sustainable living.” Developed at the hub of manufacturing and aerospace research facilities, the project promises a sustainable lifestyle for its residents.