The Puravankara Group known for its professional business practices is one of the most renowned names in the real estate sector over the past 4 decades. They have an undoubtedly enviable brand image that has made them one of the most sought after names. The Puravankara Group is led by Mr. Ravi Purvankara and is head quartered in Bangalore. The real estate company is backed by prominent investors and is listed on Indian stock exchanges. After having built a strong foundation in Bangalore with popular projects such as Purva Riviera and Purva Venezia, the company has ventured into various geographies in West and South India.
Apart from Bangalore, they have a business presence in Mumbai, Pune Chennai, Hyderabad, Kochi, Coimbatore and Dubai. The company runs a premium housing segment under the brand name Puravankara. A budget housing venture is run under the name Provident. Puravankara caters to projects that are above 60 lakhs and Provident caters to projects that are 60 lakhs or below.
They were ISO 9001 Certified by DNV in 1998 and have a DA2+ rating by CRISIL. With 23.5 million square feet of land consisting of 48 completed residential projects, 2 commercial projects, and another 25 million square feet under development, it isn’t surprising that Puravankara is such a trusted name.
The Puravankara Group is a very consumer centric real estate developer and they always put their consumers’ interests and needs first. Keeping this in mind, Puravankara is coming up with the Big 72 Hours Home Fest between 15-17 September. The fest gives an opportunity to choose from ready and under construction portfolio of both Puravankara and Provident at discounted prices, easy finance schemes and other freebies. The fest will take place in Bangalore at Hotel Lalit Ashok and at Chennai at Hotel Hyatt Regency.
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In today’s real estate scenario, success is not limited to making money alone. The forethought to build an enviable brand image, through years of dedication has played a pivotal role in the success of many first generation real estate developers of this country. The Puravankara Group is one such company which, over the years, has emerged as one of the most sought after names in the real estate sector. Led by Mr. Ravi Puravankara, the group is headquartered in Bangalore. They also have a business presence in other cities such as Mumbai,Hyderabad, Kochi, Coimbatore, Chennai, and Dubai.
Founded in the year 1975, with its first project in Mumbai, there has been no looking back for the Puravankara Group. An ISO 9001 Certification by DNV in 1998 and a DA2+ rating by CRISIL, the company went public in 2007 with an IPO of Rs. 500 per share. With 23.5 million square feet of land consisting of 48 completed residential projects, 2 commercial projects, and another 25 million square feet under development, the company has acquired a reputation of becoming one of the favourites among consumers, especially in the residential segment.
The company operates a premium housing segment under the flagship brand name Puravankara, a budget housing venture under the name Provident, and an Infrastructure & Contracting segment under the name of a subsidiary company Starworth Infrastructure & Construction Limited. Keppel-Puravankara is a joint venture of the group with Singapore’s leading real estate developer, Keppel Land Limited.
Puravankara: The Company of Firsts
Be it small or big, the Puravankara Group has several unique achievements to its name. The flagship brand – Puravankara, became the first of its kind to introduce ‘theme-based housing projects’ to Bangalore; this practice is kept alive till date, with projects such as Purva Palm Beach, and the group looks to innovate further in this regard. They also have a name for being the first real estate company in India to attract Foreign Direct Investment.
Puravankara: Speaking with the Employees
We recently had the opportunity to interact with a few employees at their office in Bangalore. The company has a skilled workforce of over 900 employees which include around 205 engineers and in-house architects. We were astounded to know that Puravankara hires people from diverse backgrounds ranging from Arts to Defence, in order to cash in on the variety of experiences they have and also on the innovative approach they can bring to the table.
The company believes in investing in their employees and hence provides them with incentives such as referral programs, coveted training programs, access to various workshops and much more. The employees were also happy about the open environment they get to work in and also the merit-based hiring system which Puravankara follows rigorously. We were also told that the superiors here provide freedom and authority to their subordinates in decision-making. They do this in order to foster a competitive spirit and encourage ownership of the project and hence, the brand name.
Puravankara: On the Consumer Front
The Puravankara Group, with its customer-centric approach has built a strong consumer base over the years. The founder, Mr. Ravi Puravankara has repeatedly attributed the success of his company to its customers and says that helping people own their dream home is the primary goal of the company. The target set of customers for each project are involved from the stage of project identification and this relationship, once forged, will last a even after the homes are handed over.
Time and again, Puravankara has chosen convenient project sites, keeping in mind the ease of commute for its customers. Quality and timely delivery of projects are priority, since, those matter the most to the consumers. The company has an innovative approach to each of its projects, which make them stand out and feature in a home-buyer’s list.
Further, initiatives such as Purva Privilege program and Purva Advantage Program which give special offers and discounts to its customers are ways of assessing how much they are valued. In addition to these, Purva Connect programme was launched to reach out to all home buyers. In conversation with one of the marketing managers, we learned that 30% of customers prefer a Puravankara project when looking for a second home.
Puravankara: Giving Back to the Society
The company has been actively involved in various CSR activities ranging from education, to improving civic amenities. They have tie ups with several NGOs such as Asha Charitable Trust, Nandan Pillai Organisation, India Foundation for Arts and several others, and continues to provide support in terms of financial aid for the same and also by organizing events. In addition, the company has contributed towards maintenance of parks, roads, flyovers and other civic amenities, by associating with Government of Karnataka. Some of the examples are War Memorial Park on Brigade Road, Marathalli flyover, Suvarna Park in Domlur and so on.
The company has been recognised and awarded time and again for their innovative approach to residential projects. The founder himself has received many accolades for his achievements in the field of real estate. Residential project of the year award for Purva Venezia in 2014 by Realty Plus Excellence Awards, Scroll of Honour Award Real Estate Conclave & Excellence Awards (south) for Mr. Ravi Puravankara in 2014, Brand Excellence Award in Real Estate at the ABP Brand Excellence Awards in 2013, and the list goes on.
With this whole experience of learning about a noted real estate development company, interacting with its employees and hearing about what customers have to say, I could conclude that a company which puts its stakeholders first and practices good work ethics, will invariably thrive in today’s competitive world, since, the last say remains with none other than the customers themselves.
‘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.
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.
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.
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.
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.
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.
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.
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
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.
‘Luxurious lifestyle homes in the most loved residential hub of South Bangalore’ is how one can sum up the project Coronation Square by Puravankara Group. With over 4 decades of experience in delivering quality residential and commercial projects, the Puravankara Group has made an attempt to cater to the uber rich with this project. Set in 1.75 acres of land in JP Nagar 7th phase, just off the Puttenahalli road, this project is targeted at niche consumers, who are looking for ultra luxury villas and apartments in the already established suburb of Bangalore; as a native Bangalorean myself, I would say that this product is most likely to appeal to people who have experienced living in some of the oldest residential establishments of the city like Jayanagar, JP nagar, BTM layout, Malleshwaram and many others.
Project Overview: Prices & Unit Sizes
We approached one of the on-site relationship managers of Puravankara for the project details and learnt that the Purva Coronation Square apartments are in soft launch stage as of now; the masterplan consists of 8 villas and 40 boutique apartments for customers to choose from. The 3BHK and 4BHK apartments are coming up in a G+4 structure; the area of a 3BHK ranges from 2,000 sqft – 2750 sqft and for a 4BHK, 2,500sqft – 3,200sqft. A major attraction of this project is that it is now registered under RERA, with the registration no. for the project being PR/KN/170729/000235.
The price range for these units range from Rs.6,800/sqft – Rs.7,400/sqft. Puravankara is following an IPO like process whereby consumers can bid for Purva Coronation Square apartments in this price band and the final price will be decided based on the demand. One can witness a healthy activity at the project site with marketing office firmly established and construction of villa structures being carried out in full swing. The completion date for this project has been set at 30th September 2019.
Connectivity & Social Infrastructure
The area surrounding the project site is replete with basic infrastructure and amenities. A variety of health care facilities are located within a 2km radius of the project site like The Apollo Clinic, Ashraya Hospital, Vikram Orthopaedic Centre, JP Nagar Physiotherapy clinic, to name a few. The beauty of South Bangalore is that, to some extent, it retains the tradition of local general stores, famous eateries, old shopping complexes and single screen theatres as against the ‘mall’ culture, which seems to have a firm grip over the rest of the city. Therefore, one can opt for places like The Royal Supermarket (1.2 km), Spencer’s supermarket (1.0km) , B.R.K Complex(2.2 kms). Aditya Complex (1.3 km) for their shopping needs.
The upcoming Puttenahalli metro station is a mere 2.7km from the project site and will offer residents an excellent means of travel to the city center. Further, the Puttenahalli Road (0.3km) offers connectivity to the Outer Ring Road which in turn connects to the Bannerghatta Road and Kanakapura Road and will enable the residents to access various commercial hubs (eg. Electronic City), as well as residential areas(eg. Jayanagar) of the city. Reputed schools, pre-schools and daycare centres are aplenty in the vicinity of Coronation Square; MES School, Green Valley English School, Creative Kidz, Euro Kids International are a few schools which fall within a 3km radius of the project site.
The location is well suited for an overall development of a child, since it has various sports academies and training centres in close proximity; JP Nagar Cricket Academy, SAFI Academy of Tennis (1.4km), Appayya Basketball Academy, Top Spin Tennis Academy (next door) are a few of the abundant sports centres in this area. Apart from this, the project site is surrounded by many parks and lakes like the Puttenahalli lake and Sarakki Lake, which will add to the green quotient.
Inside the project site: Amenities & Specifications
After assessing the neighbourhood, it was time to look deeper into the project specifications and find out what it has to offer. The thought behind Purva Coronation Square is to eliminate a resident’s need to step out of its gates, to experience a complete living. Therefore, the following unique arrangements have been made
The project has a clubhouse of its own with state of the art facilities such as a well equipped gymnasium, billiards room, table tennis room, multi purpose hall, swimming pool amongst others.
A well lit landscaped garden and an outdoor children’s play area are also included in the plan to give the project a wholesome feel.
The project is a low density one and therefore, the undivided land share (UDS) for buyers will be higher. We have found in our different discussions in the city that a higher UDS is definitely something Bangaloreans favour.
Sports facilities and training academies for Tennis, Basketball, Martial arts, Skating and many more are within walking distance of this project and ones in love of this racquet sport can easily access these facilities from Coronation Square.
Today’s real estate market is ruled by competition. Real estate developers are constantly exploring new means to ‘stand out’ in the property business, primarily to secure a reputation and build long lasting relationships with their customers. The Puravankara Group has attempted a creative twist in their latest Bangalore-based project Purva Palm Beach, which is located just off Hennur Main Road.
The entire project is being built around the theme of a Tropical Beach Resort. It comes equipped with a central lagoon and an exclusive set of amenities which will appeal to beach lovers. The construction contract has been given to JMC Projects, who have over 3 decades of experience in engineering and construction projects. What’s more, this project has been registered under RERA, with its registration number as PR000091.
Updates as of November ’17 –
Purva Palm Beach, a project built on a Tropical Beach Resort theme is well on its way to the completion phase. The project’s possession handover will be by March 2019.The current sizes and prices for units offered in the project include:
Area (in sq. ft.)
Price (in Rs. Lakhs)
1232 – 1341
94.32 – 122
1482 – 1791
115 – 161
Purva Palm Beach: Location
The project site is conveniently located just 1km off the Hennur-Baglur Main Road, which is a preferred alternate route to the Kempegowda International Airport.The most popular landmark here would be the BiOZEEN Park. The nearest mall is Elements Mall on the Thanisandra Main Road which is around 3kms away. A wide road has been constructed and maintained by the Puravankara Group, which connects the project site to the Horamavu-Agara Road. Furthermore, there are open fields, farm houses, and dense tree growth all round the project site which makes living here all the more appealing.
The Hennur-Baglur Main Road is well equipped with hospitals, schools, and other educational institutions. Various commercial centres and IT parks like the Manyata Tech Park are merely 4 km away from the Purva Palm Beach project site. In addition to this, the proposed Metro Phase 2A includes a station at Nagavara which is just 3 km from the project location. This will ensure hassle-free connectivity for the residents.
Purva Palm Beach: Prices & Specifications
Purva Palm Beach is spread over a sprawling 19.35 acres of land, and is coming up in three phases. Phase I consists of 9 blocks which all have a G+19 structure. The 9 towers consist of 702 units of both 2 BHK and 3 BHK apartments. These apartments are being offered at a base price of Rs. 5,310 per sqft. The floor rise charges(Rs. 20 per sqft per floor), PLCs, Club House charges and taxes will be separate. The 2 BHK homes will have an area range of 1,232–1,346 sqft and 3 BHK 1,482–1,846 sqft. Accordingly, a 2 BHK here would cost around Rs. 84.3 lakh onwards and a 3 BHK around Rs. 1.12 Cr.
These home units are available in ultra premium, super premium, premium, and classic varieties depending on the type of views. For example, an ultra premium home will have a lagoon facing view, super premium will have a semi lagoon view, amenities facing homes will fall under the premium category and garden facing ones under classic. Every floor will have 4 apartments and every block will have 2 lifts.
Meanwhile Purva Waves, Phase II of the project, is coming up in 6 towers with 472 homes in all. In Phase I, around 620 out of the 702 units, have already been sold. While for Phase II, 50% of of the units have been booked. Phase III launch/pre-launch has not been planned as of yet. However, Phase I and Phase II homes will be ready for handover by 31st March 2019.
Purva Palm Beach: Payment options
Purva Palm Beach apartments are available through attractive finance schemes: 10-80-10 method, or the construction linked plan. For the former, Puravankara Group has tie-ups with ICICI and HDFC bank to carry out the sale. One can opt for nationalised banks as well. If one were to choose the construction linked plan, the developer offers a few percentage points of discounts in prices.
Purva Palm Beach: Amenities & Other Highlights
To begin with, the theme of Purva Palm Beach was what drew us to the project. It was absolutely enticing to see elaborate plans for materialising a full-fledged beach resort amidst the concrete jungle in Bangalore. A massive lagoon is planned to adorn the central area of the property, along with a wave pool, a snorkelling zone, a sunken bar, koi pond, barbeque deck, a beach volley ball court, and many such beach side attractions. This will make living here feel like a stay at a luxury resort.
Secondly, homes in Purva Palm Beach will have smart home automation systems. And finally, two club houses have been planned for the entire township. These will house a state of the art gymnasium, indoor sports court, community hall, aerobics centre and other facilities.
The Puravankara Group has a similar themed project, Purva Silversands in Pune, which is again making headlines in Pune’s property market. With yet another refreshing theme in their kitty, Puravankara Group with Purva Palm Beach is all set to lure consumers with a penchant for lavish, resort like lifestyle. Add to it the pristine locations and quality access road, one might find this project to be a good option, away from humdrum of the city.
The details displayed on the website are for informational purposes only. Information regarding real estate projects including property/project details, floor area, location data has been sourced from multiple sources on best effort. Nothing contained herein shall be deemed to constitute legal advice, solicitations, marketing, offer for sale, invitation to acquire by the developer/builder or any other entity. You are hereby advised to visit the relevant RERA website before taking any decision based on the contents displayed on the website.
My wife and I were new to Bangalore and were looking for suggestions while planning to buy a home. A little Google search led us to this little known site called PropStory. They provide comprehensive reviews of under-construction projects which are based on actual site visits. The details are better than those we see in newspaper ads or even FB ads of these projects. After a little research on this site we narrowed down our search to a leading developer’s project in HSR Layout
Arjun Yadav, Bangalore
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