Provident forays into Mangalore with ‘premium affordable’ homes

Provident forays into Mangalore with ‘premium affordable’ homes

Mangalore Today News Network

Mangalore February 11, 2013 :  Provident Housing Limited, a wholly-owned subsidiary of the premier real-estate developer Puravankara Projects Limited, will make its debut in Mangalore.  The company is set to launch a property at Derebail, Konchady on airport road, named ‘Skyworth’, the property is located on a hilltop which furnishes all its apartments with panoramic ‘sky-vistas’.
 
With its brand firmly anchored in the premium segment, Puravankara established Provident in 2008, in response to latent demand for mid-income housing.  Brand Provident exemplifies the pioneering ‘premium affordable’ housing concept.  These are premium homes built to sell at affordable prices, attributed to a value-engineering process that reins in costs.  The end result:  the properties are priced 25-30% below competitor offerings.   Provident Skyworth entails two bedroom apartments of 1091 square feet, priced at Rs. 39.22 lakhs and three bedroom apartments of 1377 square feet, priced at Rs. 48.07 lakhs (prices are inclusive of open car-parking).

 

 

These ‘premium affordable’ homes are of uncompromising quality.   Provident Skyworth is appointed with modern attendant amenities including, swimming pool, clubhouse, party-hall, supermarket, landscaped gardens, multiple sports facilities – badminton court, table tennis, billiards, indoor games et al. , rivalling best-in-class properties.  Perched atop a hill, dispersed over 4.15 lakh square feet, encompassing 324 units with breathtaking views, Provident Skyworth typifies modern living at its pinnacle.

The Provident proposition is brought to Mangalore buoyed by its success in Bangalore and Chennai.  The company is embarking on similar initiatives across major cities in the country, including Mumbai, Delhi, Hyderabad, Coimbatore, Mysore, Pune, Baroda, Ahmadabad, Kolkata, Nagpur and Jaipur.

Commenting on the launch, Jackbastian K Nazareth Group CEO said “The Provident proposition with its dual emphasis on affordability and quality has been extremely well-received in other markets.  We are delighted to bring this ‘premium affordable’ innovation to Mangalore. The sizeable middle-class presents a significant opportunity for real-estate development.  We foresaw its potential at a nascent stage, and foresee its prospect as the growth driver of the future.  We intend to expand our presence in this segment, with the aim of establishing a national brand by the end of the decade.”

Madhu V, Managing Director, Provident Housing Limited, added “Since its inception 4 years ago, Provident has sold 4800 apartments and handed over keys to 1100 proud home owners.   With that track record, we are ready and equipped to deliver high quality living space to many more.  I am confident that Provident Skyworth will enrich the lifestyle of home-buyers in Mangalore as the brand has in other markets.”