Customers can now avail Home Loans at just 6.99% on all Puravankara Homes
Bangalore, May 20, 2014: Attuned to the overall buoyant market sentiments, Puravankara Projects Ltd, a leading real estate developer in India has introduced a special offer last week to its customers, which is seeing unprecedented demand from buyers for whom this will probably be their last time to pick dream homes along with attractive offers. Puravankara’s latest offer will help reduce the overall cost of home ownership by reducing the buyer’s home loan interest burden to 6.99%, as compared to current prevailing interest rates of 10.25% to 10.50%.
The offer can potentially help save upto 7.02% of the home loan amount that they borrow in addition to an interest rate rebate which comes in form of reimbursements from Puravankara. Additionally, customers get to avail attractive add-on benefits such as Gift Voucher for Home Interiors worth several lakhs.
Taking customer’s desire for flexibility into account; Puravankara has also made it possible for the scheme benefits to be availed as an upfront cash rebate.
The offer is limited to certain number of buyers due to limited inventory. Puravankara has adopted an innovative “Random Allocation Process” based on a dynamic release of inventory (of apartments) based on the demand generated for the offer. The allotment process may be monitored by an international audit firm and is being marketed exclusively through the online media targeting the savvy buyers from across the. The offer closes early June.
Commenting on the initiative, Jackbastian Nazareth, Group CEO said, “The true cost of a home is not just the price one pays to the developer, but it’s the price paid to the developer plus the interest cost on their home loan. We believe: when it comes to owning a home, nothing should come in the way. This offer from Puravankara will not only help the buyers (who were earlier waiting for rates to come down) in buying their dream homes but also send out a positive signal about the investment climate.”
About Puravankara Projects Limited: Puravankara Projects Limited is a leading real estate company in India, with significant presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in the United Arab Emirates, Kingdom of Saudi Arabia and Sri Lanka. The company has successfully completed 45 residential and 2 commercial projects encompassing 20.39 million square feet. Currently, it has 28.43 million square feet of projects under development with an additional 81.71 million square feet in projected development over the next 7-10 years.
Puravankara has the distinction of being the first developer to obtain FDI in the Indian real estate industry through a joint venture with Singapore based Keppel Land Limited, the property arm of the conglomerate Keppel Corporation Limited. One project under the joint-venture initiative is underway in Kolkata.
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. Currently, over 10.05 million square feet of projects have been launched across Bengaluru, Chennai and Mangalore, with an additional 10.32 million square feet slated for launch this fiscal year. For more information on Provident, please visit www.providenthousing.com
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.