Provident Housing, a wholly-owned subsidiary of Puravankara Projects, intends to develop an affordable housing project in Bangalore.
The proposed project christened as 'Welworth City', is likely to entail an investment of Rs 480 crore. Funds are to be raised through promoters' equity, construction finance and advance from clients. Provident has tied up a debt of Rs 200 crore for the project from SBI Capital and Housing and Urban Development Corporation
Welworth City is expected to have 3,360 stilt plus eight floors. The company plans to launch Phase I of over 1,000 apartments shortly. The project is also likely to have facilities such as play area, swimming pools, gyms, multi-purpose hall and super market.
Source : ProjectsToday
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