Puravankara Group — IPO Style Pricing

Innovation is the key to success in any business today. This is a very generic statement which we all agree to, but interpret in our own ways. Especially in the real estate sector, a majority of real estate developers have limited their innovative approach to either designing their products or planning their Ad campaigns, and in certain cases, both. No doubt these strategies appeal to a home buyer, if he sees potential in the project offering; but, what would leave a long-lasting impression, is the feeling of being empowered.

The Puravankara Group, which prides itself in following the most professional business practices, made a breakthrough in the year 2013, when, instead of pricing their projects themselves, they decided to give their consumers the power to decide prices for homes they would invest in. This was another feather in the cap for  the company which places consumers at the centre of its business model, which, according to their chairman, Mr. Ravi Puravankara, is the secret behind their success.

IPO Style Pricing by the Puravankara Group: How does it work?

Shunning the conventional method of pricing a property and then inviting applications from the customers, the Puravankara Group decided to handover the decision making to interested parties for a particular project. This method  draws inspiration from the practice of Initial Public Offering followed in the share market. The Group sets a price range for a particular project, at a pre-launch stage; prospective buyers are then invited to an event, where they are briefed on the project specifications, location, amenities, themes, and other aspects. Based on this information, they can decide how much they are willing to pay for the project and select a price from the range specified. This is termed as collecting the buyer’s expression of interest (EOI).

The Puravankara Group has been following this technique for almost all their projects since September 2013, and it has proved to be quite profitable both in the financial aspect and the consumer relationship. This practice helps in faster revenue generation, quicker bookings, resulting in lesser debts. Another subtle advantage of this method is that a home buyer feels involved in the project he is about to invest in, from the pre-launch stage itself, which will result in a good home buying experience for him.

Purva Palm Beach by Puravankara Group, Bangalore -- Picture of the buildings (still under construction) as seen from the the site.
Purva Palm Beach by Puravankara Group, Bangalore

The Benefit of this Pricing Strategy

This innovative approach to property pricing, has earned the Puravankara Group many loyal customers over the years and continues to do so. We also learnt that about 30% of home buyers consider Puravankara for their second home option. Further, this practice adds more transparency to the customer-developer transactions and establishes a strong bond between the two. Many recently launched projects such as Purva Palm Beach and Purva Westend in Bangalore and Purva Silversands in Pune have profited from this type of pricing. While in conversation with the marketing team of the Puravankara Group office in Bangalore, we learnt that around 70% of sales in Purva Westend can be attributed to this method, and people prefer it because it offers good flexibility and a sense of control over their investment.

Purva Westend (PC: Puravankara Group)
Purva Westend (PC: Puravankara)

With an unconventional approach to sales, innovative and ‘best in the market’ construction techniques, attractive theme based projects, and many more credits in its kitty, the Puravankara Group has emerged as a consumer-centric real estate developer and promises to tread the same path by always putting the consumers first.

Follow our coverage of Puravankara on PropStory.

Purva Westend – Specifications, Prices and USPs

Kudlu Gate is one of the fastest developing residential areas in southern Bangalore. A lot of housing projects are coming up at this place. Purva Westend is one of the upcoming projects in the locality that promises to impress prospective buyers of property, with a host of the amenities and features as described here.


Entrance to Purva Westend
Entrance to Purva Westend

To visit the location of the project, I boarded a BMTC bus from Electronic City and within 15 minutes, I managed to reach the location quickly as it was just 7 kms away. As soon as I dropped off at the Kudlu Gate bus stop, I found the housing project right in front of me.

The entrance to Purva Westend stands on the roadside, making it quite easily accessible from Hosur Road that runs as the backbone of the southern part of Bangalore.


Ongoing construction at Purva Westend
Ongoing construction at Purva Westend

Kudlu Gate has very good connectivity with the Electronics City, the place where we have Infosys Limited, Wipro technologies, Siemens, Schneider and EdgeVerve to name a few companies. On the same side of the road, there is Hotel Ekaa and other basic amenities are available right at front of the apartment. From medical centres to even wine shops are available to the residents in this part of city. The project also overlooks the Hosur flyover, which connects Electronics City to Silk Board. Silk Board, one of the prime locations in Bangalore, is also just 3.7 kms away. There are plenty of education institutes not so far from here. PESIT Azim Premji University is about 5.5 kms from the upcoming development. Moreover, Symbiosis Institute of Business and Management is a 15 minutes drive from the location of the project.

Market and shops near Purva Westend
Market and shops near Purva Westend

As I entered the campus of the housing project, I found the sales office right at a short distance, making it quite conspicuous to any visitor.

The project is spread on 8.25 acres of land in one of the prime locations of south Bangalore. Five towers of G+19 structure collectively offer 735 apartments and have two basement parking facilities.

Purva Westend is coming up in two phases, both of which are now registered under RERA. Phase 1 of the project is expected to be completed by 31st December, 2018 and has a RERA registration number of PR000236. The resgistration number for the project’s second phase is PR000394.

Themes at Purva Westend

The best part about the project that I found was that it is based on the theme of art, music and cinema. The swimming pool for taking respite in summers is shaped like a guitar. The pavements don the design of a piano. I also found that there are ample sports facilities and recreation options in the parks that flank alongside the towers.

Artists' rendition of Purva Westend through a model, Purva Westend
Artists’ rendition of Purva Westend through a model

I was pleasantly surprised to find that Purva Westend also includes a jamming room, where people can spend their leisure time with musical instruments.

A tinkering room is a creative add-on to the amenities and a Lego building room is a feature that will help to foster a creative culture amongst the kids in the apartments. Gym facilities, spa centres and market centres will be an added delight to the entire set of facilities.


The project also boasts of having India’s largest private open air theatre, right at the centre of the towers. The 70mm screen is bound to make you elated all the while. A ballet room also awaits the budding as well as the talented dancers. Lawn tennis court and basketball courts along with cricket ground is supposed to come up very soon. This place will certainly be a delight for music aficionados and creative geniuses.


Talking about the neighbourhood, the place is one of the busiest places of South Bangalore. One can find ample number of grocery shops, stationery outlets and eating joints, along with a few restaurants. The amenities are accessible just on the other side of the Hosur Road on which the project stands. Moreover, Hotel Ibis is also just 5 kms away. Hosur Road also connect the place to Silk Board from where other places of Bangalore are easily accessible.

Prices & Apartment Size Configurations

Hotel Ekaa in the vicinity of Purva Westend
Hotel Ekaa in the vicinity of Purva Westend

Units here are priced at Rs.6,000 per square feet. The 2 BHK apartments are sold out completely, while 3 BHK units are available. The cost will be INR 1,09,00,000/- onwards. Possessions will commence from April 2018. The project also has super premium flats, i.e. the ones that face the open air theatre and the ones which are at the corners.

They will cost INR 200 more per square feet. The increase in cost from one floor to another is INR 20/- per square feet for each floor. Almost the entire construction is about to finish by the end of 2016, along with decorations and aesthetics.

I found the project to be easily accessible and aesthetically pleasing. Narayana Hrudalaya, the hospital that one can rely on in times of emergency is also 10 kms away. Hence, the needs of medical emergency are also taken care of very well.

All in all, the project Purva Westend, is very well designed and now, its construction is in full swing.

Refer developer website for more information

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