Puravankara Projects, a leading real estate developer in India, for the pre-launch of the project Purva Palm Beach in Bangalore adopted a book building method to sell the project. The project saw an oversubscription of 3 times with over 1,200 applications received as opposed to the units released for allocation during the initial pre-launch stage. This scheme has attracted buyers from Mumbai, Delhi and Chennai.
The homebuyer needs to submit a request expressing his interest. The expression of interest will be within a price range of Rs. 4290 to Rs. 4650. The people who have expressed their interest will be allotted a reference number. Once the price is discovered, the allotment would be made on a ‘FIFO’ (first-in-first-out) basis. Homebuyers who have been allotted the unit of their choice can buy, and for other the company will refund the booking amount paid.
Puravankara adopted book building method with a base price of Rs 4,392/- offered customers an opportunity to book their dream home through a transparent price discovery mechanism. The same mechanism was followed for the launch of Purva Westend in Bangalore.
The homebuyer needs to submit a request expressing his interest. The expression of interest will be within a price range of Rs. 4290 to Rs. 4650. The people who have expressed their interest will be allotted a reference number. Once the price is discovered, the allotment would be made on a ‘FIFO’ (first-in-first-out) basis. Homebuyers who have been allotted the unit of their choice can buy, and for other the company will refund the booking amount paid.
Puravankara adopted book building method with a base price of Rs 4,392/- offered customers an opportunity to book their dream home through a transparent price discovery mechanism. The same mechanism was followed for the launch of Purva Westend in Bangalore.
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