This initiative is part of  Puravankara’s  expo - BIG 72 Hrs that attempts to mimic consumer behaviour in the automobile industry i.e. to exchange an old car for a new one.

While the housing industry is constrained to replicate the exact version of an automobile exchange into the context of homes because of the fragmented nature of the housing market, Puravankara is attempting to assist home buyers to sell their existing home through a formal process, so as to help the customer plan for the finances required for the new home purchase, the company says.

“We found that eight out of ten residents in Bangalore who are looking to resell 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 owing to the confusion. 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 Hrs, and help home sellers get the best and find the right buyers for their existing properties," says Anand Narayanan, Chief Operating Officer, Puravankara Ltd.

The event is slated to be held from June 15 to June 17 2018, and is aimed at getting the first home buyers and home buyers  looking to upgrade their home interested with attractive prices and payment plans.

The move will also propel the company’s ambitious plans to invest Rs 3,000 crore and achieve the construction target of 15 million sq ft, the company said.

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