Provident Housing, a fully-owned subsidiary of the Bangalore-based Puravankara Group, has bought a 62-acre land parcel in the outskirts of Bangalore. The deal is believed to have been struck for a value of Rs 150 crore.
A person involved in the deal said the company is planning a low-cost housing project. The deal between Provident Housing and the seller, who is an individual, was signed earlier this month. 'The price paid for the land is quite nominal,' the person added.
Times of India