Puravankara group announces home exchange plan for home sellers

Bengaluru News

Good news for home buyers who are looking to upgrade their homes, Realty giant Puravankara ltd. has recently announced a unique ‘Home Exchange Plan’ as a part of its Big 72 Hours Home Fest. The fest will start on June 15 and will end on June 17, 2018. In a first-of-its-kind initiative, the group attempts to mimic the ‘Exchange an old car for a new one’ which is a common offer in the automobile industry.

The event is for both first home buyers and existing home buyers who are looking to upgrade their homes, with attractive price and payment plans. The group has partnered with some of the leading banks along with their certified valuation experts, as well as key brokers and premium online real estate portals, for the three-day event in Bengaluru.

According to real estate experts, “While the housing industry may be unable to replicate the exact version of an automobile exchange in the context of homes, because of the fragmented nature of the housing market, Puravankara is attempting to assist homebuyers to sell their existing homes, though a formal process, so as to help the customer plan for the finances required for a new home’s purchase.”

Giving more details about the campaign, Anand Narayanan, chief operating officer, Puravankara Ltd, said, “We found that eight out of ten residents in Bengaluru, who are looking to sell their existing properties, are often unaware or misinformed about the resale/upgrade process – from valuation to finding the right buyer. As a result, the process gets derailed, delayed and eventually dropped and they do not end up upgrading to their dream home. We decided to address this issue, by adding India’s first Home Exchange Plan and Resale Assistance Plan, to our ongoing flagship program Big 72 Hours and help home sellers to get the best and find the right buyers for their existing properties.”

Procedure of Home Exchange

While deciding to buy a new Puravankara home, purchasers can choose to enroll themselves into the ‘Resale Assistance Program’, which will offer benefits like:

  • Flexible payment plan on the new Puravankara home that they choose to buy
  • Valuation certificate from third-party valuation agencies
  • Easy loan facility against the existing property, partnered with HDFC, ICICI, and SBI
  • Assistance from empanelled brokers
  • Premium listings on top online property portals, such as Housing.com and 99acres
  • Complimentary participation in a ‘Resale home mela’
  • Hassle-free processing under one roof

With this initiative, Puravankara is hoping to reach out to over one lakh first-time home buyers, the NRI community, and investors, to promote their affordable, ready-to-move-in and luxury homes.