Puravankara Shares Surge: New Plotted Development Near Chennai

Chennai, Jan 18 (PTI) Purva Land, the plotted development arm of real estate developer Puravankara, has launched its 'wellness' themed project on the outskirts of the city, a top official of the group said on Thursday.

'Purva Soukhyam', its second project in Tamil Nadu, would come up on a 120 acre plot of land south of Chennai in Guduvancherry and is expected to be the company's largest project in the city.

The latest project by the Bengaluru-based firm is similar to the music-themed project 'Purva Raagam' launched in the city's western suburb Thirumazhisai in 2023, after the jump in demand for plots post the Covid-19 pandemic.

With the launch of Purva Soukhyam project, the share price of the company surged by 3.44 per cent to reach Rs 229.90 in the BSE today.

"Purva Soukhyam is designed to provide residents with a comfortable and balanced lifestyle and marks a paradigm shift in the plotted development space in Chennai. With its comprehensive wellness-focused amenities and sustainable design, this project will offer a serene and healthy living environment to enhance the quality of life," Puravankara group CEO Abhishek Kapoor said.

"For homebuyers, plots offer flexibility to build one's home as per their preference and time frame. Plots by reputed developers also offer safety and create an appreciating asset for the customers," Kapoor added.

According to company officials, 'Purva Soukhyam' would feature health and fitness programmes, yoga and meditation classes, spa, swimming pools and outdoor fitness areas, among others. It has 2,200 plots ranging from 600 sq ft to 5,000 sq ft with over 35 amenities including a 30,000 sq ft clubhouse.