Introduction:
Puravankara’s percentage price surged by means of up to two.88%, achieving an intraday excessive of Rs 336.90 in line with proportion on Friday, November 22, 2024, following the declaration of a main new residential improvement via its subsidiary, Provident Housing. However, the profits have been short-lived, and by using 1:02 PM, the stock had pared its gains, trading 0.50% lower at Rs 325.80 per percentage. This flow came amid a robust performance from broader market indices, with the BSE Sensex growing 1.39% to 78,230.Eighty four.
The development, dubbed Provident Bayscape, is strategically located on the Kelambakkam-Vandalur Road in Chennai’s southern suburbs. This new residential project is poised to offer a blend of modern living and cultural heritage, catering to the growing demand for high-quality housing in the region. The project spans 5.35 acres and will consist of 676 residential units, with configurations of 2 and 3 bedrooms spread across four towers.
The homes, which are expected to be delivered by 2028, promise contemporary amenities while respecting local traditions—featuring elements such as Vaastu-compliant design, designated kolam areas, and separate puja spaces.
What sets Provident Bayscape apart is its commitment to sustainability. The project incorporates eco-friendly features like a high-capacity organic waste converter, rooftop solar panels, rainwater harvesting, and EV charging stations, positioning it as an environmentally responsible offering in Chennai’s real estate market.
In addition, over 46% of the development is dedicated to open spaces, fostering a light-filled, ventilated environment.
Discover Provident Bayscape: Puravankara’s Sustainable Luxury Living in Chennai:
Beyond its environmental credentials, the development’s location makes it a strong contender in the market. Provident Bayscape is close to key tech hubs such as Siruseri IT Park and ELCOT SEZ, while also offering excellent connectivity to important landmarks like Kovalam Beach, Marina Mall, and leading healthcare facilities. The proximity to the upcoming Kelambakkam metro station further enhances the project’s appeal to potential buyers.
Market Implications and Outlook
The positive market response to Puravankara’s announcement of this new residential project reflects growing investor optimism about the company’s future prospects.
The development of Provident Bayscape aligns well with the increasing demand for both sustainable living solutions and well-connected, affordable housing in urban centers like Chennai.
Conclusion:
Given the strategic location, extensive amenities, and eco-friendly focus, this project has the potential to further strengthen Puravankara’s position in the competitive real estate market.
As urbanization continues to drive demand for residential properties, particularly in key tech hubs and suburban areas, Provident Bayscape could become a significant contributor to Puravankara’s revenue growth over the coming years.
FAQ:
1. What is Provident Bayscape?
Provident Bayscape is a new residential project launched by Provident Housing, a subsidiary of Puravankara Limited, located in Chennai’s southern suburbs on the Kelambakkam-Vandalur Road. The development will offer 676 Vaastu-compliant homes in 2 and 3-bedroom configurations across four towers, with possession expected by 2028.
2. Where is Provident Bayscape located?
The project is situated on the Kelambakkam-Vandalur Road, strategically located close to major tech hubs like Siruseri IT Park and ELCOT SEZ. It also offers easy access to key landmarks such as Kovalam Beach, Marina Mall, and several prominent educational institutions and healthcare facilities in the area.
3. What are the sizes of the residential units at Provident Bayscape?
The residential units come in two configurations:
- 2 BHK: Ranging from 993 sq. ft. to 1,107 sq. ft.
- 3 BHK: Ranging from 1,309 sq. ft. to 1,424 sq. ft.
These homes are designed to cater to modern living while incorporating elements of traditional Chennai lifestyle.
4. What makes Provident Bayscape unique?
The project combines contemporary living with cultural heritage, offering features like Vaastu-compliant designs, dedicated kolam areas, and puja spaces. Additionally, it emphasizes sustainability with eco-friendly features such as solar panels, rainwater harvesting, EV charging stations, and organic waste converters. Over 46% of the development will be open spaces with native trees, ensuring a healthy, green environment for residents.
5. What amenities will be available at Provident Bayscape?
The project offers over 25 lifestyle amenities, including:
- A 10,000 sq. ft. clubhouse
- A large swimming pool
- Fully equipped gym
- Yoga deck
- Kids’ play area
- Pet park
- And more! The project focuses on providing a well-rounded living experience for families, professionals, and individuals of all ages.
6. How is Provident Bayscape connected to the rest of Chennai?
Provident Bayscape enjoys excellent connectivity with major roads and is close to key tech hubs. Additionally, the upcoming Kelambakkam metro station will significantly enhance daily commute convenience, making it even easier to travel to central Chennai and other parts of the city.
7. Is Provident Bayscape an eco-friendly development?
Yes, the project is designed with sustainability in mind. It features solar-powered common area lighting, solar water heaters on rooftops, rainwater harvesting with 18 recharge wells, and a high-capacity organic waste converter. These eco-friendly measures aim to reduce the project’s carbon footprint and ensure a greener, more energy-efficient living environment.
8. When will the possession of the flats begin?
Possession of the residential units is expected to begin by 2028, giving prospective buyers ample time to plan their move.
9. How can I invest in Provident Bayscape?
Interested buyers can contact the sales team at Provident Housing for detailed information on booking a unit, financing options, and project updates. It’s advisable to register with Tamil Nadu RERA for transparency and regulatory compliance.
10. Is Provident Bayscape a RERA-approved project?
Yes, Provident Bayscape is registered with Tamil Nadu RERA, ensuring that the project complies with all legal and regulatory requirements, providing buyers with confidence in their investment.
11. What is the price range of homes at Provident Bayscape?
While the exact pricing details can vary based on the configuration and floor plan, the project is positioned as an affordable luxury development, catering to first-time homebuyers and those seeking high-quality homes in a growing suburban market.
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