Making its first footprint in Kerala, Provident Housing Limited (PHL) has launched a Rs 3000 Cr residential project. By the name of Provident Winworth, the project is launched in Edapally, Kochi the hottest realty destination in the state. A report by SURFACES REPORTER.
Kochi- the emerging realty hotspot
Over the last decade, Kochi has evolved into a highly desirable residential destination. The budding IT landscape, thriving commercial centres, and admiration for art and cinema have truly transformed the city into an urban utopia.
The changes within the metropolis are evident in the aspirations of its residents. There is a marked preference for luxury and a high standard of living at unbeatable value. Today’s homebuyer is discerning, well-informed and is precise with their requirements. The latest project by Provident Housing aims to fulfil these emerging needs of the new-age consumer.
Key features of Provident Winworth
Provident Winworth is located in Edapally, one of the fastest-growing regions in Kochi and is well-connected via a metro rail and road. It has also emerged as an alternate business district. It is also one of the four projects that Provident has received an inflow of capital from the International Finance Corporation (IFC) and the IFC Emerging Asia Fund.
The project is a 3.4 million sq ft development having 40 + aminities including a clubhouse, Multi-play court, Amphitheatre, Meditation and Yoga deck etc. The project is being developed in the close proximity of Lulu International Shopping Mall.
According to the statement released by the firm, the project will be introduced in the market through an innovative Quasi Book Building method. Fundamental ‘Demand-Supply’ metrics will drive the price discovery process. The pre-booking process offers comprehensive product information to prospective buyers, along with a ‘Price-Band’ for each type of unit. Expressions of interest (EOI) from prospective buyers help gauge the project’s demand and achieve a data-driven pricing decision.
About Provident Housing Limited
For the last 13 years, Provident Housing Limited, a 100% subsidiary of Puravankara Limited has been providing premium affordable homes. According to the statement, the company has launched around 21 msft of projects across 9 cities - Bangalore, Chennai, Hyderabad, Mumbai, Pune, Goa, Kochi, Coimbatore and Mangalore, out of which around 12 msft has been delivered.
Ashish Puravankara, Managing Director, Puravankara Limited, said, “One of the driving forces behind Provident Housing is upending the notion that luxury and affordability are mutually exclusive. We are delighted to debut our first premium-affordable offering of Kerala in Kochi. Over the last few years, we have witnessed the city scale its infrastructure and simultaneously position itself as a cultural capital. With this new venture, we aim to create a landmark in the city while providing an unmatched living experience for its residents”
Abhishek Kapoor, CEO, Puravankara Limited, said, “Provident Winworth is a balanced intersection of architectural value and the city’s ambition. From the conceptualisation to construction, every element of the project is informed by the rich heritage of Malabar. It will be the largest mixed-use development in Edappally with retail and commercial elements, making it inclusive and accessible. As always, our highest priority is to offer quality homes that enrich and elevate the homebuyer’s lifestyle."