Realty firm Puravankara Projects will invest Rs 500 crore in next 5 years on construction of its first housing project in Hyderabad.
The company’s affordable housing arm Provident Housing Ltd would develop 2,400 housing units in this project, which is being developed in partnership with the land owner. The company today launched the first phase of project named ‘Kenworth by Provident’ comprising 400 units. Prices of the units would be fixed on the book-building process. The company invited expression of interest (EOI) from the prospective buyers. Based on the buyers’ EOIs, the final launch price is expected to be announced tomorrow.