“PURVA SUMMIT”

Puravankara revolutionizes investments by Retail Customers into Commercial Properties

Launches “PURVA SUMMIT” at Hyderabad

Hyderabad 20^th March, 2015: Puravankara has successfully monetised its commercial properties in Chennai and Bangalore this year. The myth that investments into commercial properties can be afforded only by very high net worth individuals, has been broken. Puravankara has made it possible for customers from across section of income profiles to buy into Grade A office space and enjoy both capital appreciation as well as earn attractive monthly rental returns from large corporate tenants.

Buoyed by the successful sale of its commercial projects in Chennai and Bangalore, Puravankara is now launching Purva Summit, its Grade A Office Space in Hi-Tech City (Kondapur), in Hyderabad. Puravankara has been overwhelmed by the “Expressions of Interest” it has received form potential buyers for Purva Summit, which has been oversubscribed by twice the amount of area that it intends to sell. This has reiterated the belief that markets always respond well to “Quality Products” that are, designed& priced well and offered by Grade A developers such as Puravankara. 

Purva Summit offers real estate buyers with an opportunity to invest in Grade-A Office spaces at ticket sizes starting from Rs. 25 lacs onwards.  Commercial office spaces, especially Grade-A office spaces, offer real estate buyers with a unique opportunity of enjoying capital appreciation and at the same time earn a superior inflation-adjusted monthly rental income.

Mr. Ashish Puravankara expressed: “The Real Estate sector in Hyderabad seems to have stabilised and we are likely to see an upsurge in transactions as well as commercial activity going forward. The low vacancy levels in Grade A office Space makes Hyderabad an attractive destination for investments into commercial properties”.

About Puravankara Projects Limited:

Puravankara Projects Limited is a leading real estate company in India, with significant presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad and Mysore. The company has 24.87 million sft of projects under development with additional 81.83 million sft 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:  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 9.51 million square feet across Bengaluru and Hyderabad and these projects will be launched in the ensuing quarters.  For more information on Provident, please visitwww.providenthousing.com