Provident Housing announces launch of residential project in Chennai

The project will feature 676 residential units spread across 5.35 acres on Kelambakkam-Vandalur Road, Kelambakkam. These will be 2 BHK units ranging from 993 sq. ft. to 1,107 sq. ft., and 3 BHK units between 1,309 sq. ft. and 1,424 sq. ft, the company said in a statement.

Also Read: Brigade Group to jointly develop 1 million square feet residential project in Chennai

Ahead of the launch, Mallanna Sasalu, CEO of Provident Housing Limited, said, ”Provident Bayscape offers unparalleled excellence in the quality of life for residents. This project reflects our commitment to creating living spaces that combine convenience, comfort, and connectivity.”

Facilities on offer

Bayscape will have 46.5% open area, a 10,000 sq. ft. clubhouse, large swimming pool, fully equipped gymnasium, kids’ play area, relaxing yoga deck, and a pet park.

Located in the southern suburbs of Chennai, the project is close to major tech parks like the Siruseri IT Park, ELCOT SEZ, and Pacifica Tech Park and educational institutions like the Chettinad Dental College and Research Institute and the Hindustan College of Arts & Science.

Provident Bayscape is registered under Tamil Nadu RERA and is slated for possession in 2028.

Established in 2008, Provident Housing Limited has projects spread across nine cities, namely, Bengaluru, Kochi, Mumbai, Goa, Hyderabad, Mangalore, Chennai, Coimbatore, and Pune.

A report by JLL has said that despite a short-term slowdown in housing sales during the January-September period of 2024, the outlook for residential sales in 2024 remains healthy, with the first nine months of 2024 achieving around 85% of entire 2023 sales. 2024 is expected to close with sales reaching yet another historic milestone, 12-15% higher than 2023 sales of 2.94 lakh units, based on strengthening of buyers’ activities over the upcoming festive season, the report showed.