Real Estate developer Puravankara Projects launched its premium and affordable range of homes in the city on 22nd of July, 2013. According to Jackbastian K Nazareth, Group CEO, the project located at Selvapuram in the city is spread over nine acres. The project has been well equipped with the most modern amenities like swimming pool, gymnasium, clubhouse, children’s play area and supermarket.
When questioned on the time of entering real estate in the city during the overall economic slowdown, he stated that the company due to its good reputation had managed to sell apartments in cities like Chennai and Mumbai during its peak stages of recession and is certain that Coimbatore will be no different.
The project, namely Provident Greenpark, offers one bedroom apartments of 542 sq ft, which is priced at Rs. 17.29 lakh onwards. It also offers two bedroom apartments of 886 sq ft at a price of Rs. 28.87 lakh onwards and also three bedroom apartments of 1, 208 sq ft at a price of Rs. 38.82 lakh onwards.
Madhu V, Managing Director, Provident, said that there would an escalation in prices when asked about the impact of the proposed Land Acquisition Bill on the real estate sector. He also added that there is always a positive impact when the rates decrease when questioned on the impact of the lower interest rates on home loans. He also stated that people who have decided to invest in property would not bother about the hike or the reduction of interest rates.