Puravankara Projects offers interest rate subsidy to customers: Report

In order to boost  the sales, Puravankara Projects is reportedly offering a scheme to its customers to reduce the buyer’s overall cost of home ownership. Under the scheme, although the customer would continue to avail of a home loan at the current market rate of 10.25 per cent to 10.5 per cent from his or her bank, Puravankara would step in to reimburse 3.25 per cent of the home loan interest rate to the customer. This will effectively reduce customers' home loan interest burden to 6.99 per cent against prevailing interest rates of 10.25 per cent to 10.5 per cent. Puravankara Projects is a leading real estate company in India, with significant presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in the United Arab Emirates, Kingdom of Saudi Arabia and Sri Lanka. The company has successfully completed 41 residential and 2 commercial projects encompassing 16.52 million square feet.