Provident Housing Ltd, a wholly-owned subsidiary of Puravankara Projects, has launched its affordable housing project in Bangalore. Welworth City is its second project in the country; the first project was announced in Chennai. The company is also exploring options in Hyderabad and Coimbatore. Provident Welworth City in Bangalore is a Rs 480-crore project, which claims to offer “premium affordable housing” on Yelahanka Doddaballapur main road. Funds would be through promoters’ equity, construction finance and advance from clients.
This 41 acre project is located in the north of Bangalore, in close proximity to the new international airport on the Yelahanka-Doddaballapur Main Road. This fast-growing region of Bangalore has seen tremendous amounts of infrastructural development over the last few years.The implementation of Welworth City is in three phases. The project consists of 61 blocks that rise 9 storeys into the air, each comprising a Stilt+Ground+Seven floors. Welworth City is the first of many projects to come that would stand as a benchmark in affordable premium housing.
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