Provident Housing offers 2% discount to armed forces on home purchases

Puravankara Limited’s subsidiary, Provident Housing Limited, introduced a scheme to support serving and retired armed forces personnel in acquiring homes. The company will provide a special 2% discount on housing across its projects for eligible armed forces personnel.

With a focus on mid-segment housing, Provident Housing aims to assist the approximately 1.4 million serving personnel and 2.6 million veterans in India. The initiative, designed to express gratitude to the armed forces, was formally communicated to Major General Ravi Murugan, AVSM, General Officer Commanding (GOC), Karnataka and Kerala Sub Area.

Mallanna Sasalu, CEO of Provident Housing, highlighted the company’s forward-looking approach and the desire to show respect for the protection provided by the armed forces. The eligibility criteria encompass all serving and retired members of the Army, Navy, and Air Force, along with their spouses and children, and officers of the Short Service Commission who have completed full tenure. Individuals with less than five years of service are excluded from the scheme.

The shares were down by 0.99 per cent to Rs 185.55 at 12.56 pm on the BSE

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