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It is learnt that these players are drawing up plans to invest in cities like Mumbai, Goa and Pune.
Provident Housing, a fully-owned subsidiary of the Puravankara Group, is said to be in talks with individual land owners in Mumbai to buy land in three locations for affordable housing projects. Ashish Puravankara, director, Provident Housing confirmed the plan to enter the Mumbai market through affordable housing projects though he declined to share details on locations. “We have not bought any land yet and are exploring options in Mumbai,” he said.
Sobha Developers is also keenly looking at Mumbai and Pune. The company is close to sealing a deal with another developer for an affordable housing project. JC Sharma, managing director, Sobha Developers, when contacted said, “Mumbai is an attractive market and we are certainly interested in it though nothing concrete has been decided so far.”
Nitesh Estates has already bought a large tract of land in Goa for a high-end project. “We would be developing higher end villas in Goa,” L.S. Vaidyanathan, Director, Nitesh Estates. The company is planning to raise around Rs 1,200 crore through an infusion of private equity (PE) funding and a planned public issue.
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