Real estate firm Puravankara Ltd on Thursday launched an uber luxury residential line called ‘WorldHome Collection’, a niche segment that will be priced at a higher range.
The first project from this segment is going to be launched, in Bengaluru’s Thanisandra Road.
The Bengaluru-based developer plans to launch another project in Mumbai’s Chembur micro-market and has included an ongoing development in the Guindy area in Chennai into the new segment.
Puravankara has launched its luxury line of homes during a time when India is undergoing its worst ever real estate slowdown, particular in the residential sector.
Ashish Puravankara, managing director, Puravankara said, “…Luxury for today’s home buyers do not mean marble floors or chandeliers on the ceiling, so as we at Puravankara have always been and will continue to remain agile and responsive to the customers’ needs. This gave birth to the idea of a niche brand, an identity and a holistic experience - WorldHome Collection which is not limited in the definition of luxury."
Puravankara said that what will differentiate the projects under WorldHome will be technology-enabled homes, with enhanced air purification and water quality.
The real estate firm currently sells premium homes under the ‘Puravankara’ brand and affordable residential under Provident Housing Ltd. It was among the first to form a separate business vertical dedicated to affordable and mid-income housing projects.
Since 2009, it has launched around 16 million sq. ft under Provident and delivered nearly 12 million sq. ft and 11 million sq. ft, respectively, in the two segments.