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Home > Forum > Kochi > Marine Drive > Real estate News > Sobha builders and Puravanakara transaction on Marine Drive Kochi

Sobha builders and Puravanakara transaction on Marine Drive Kochi

Q: Hi guys, I recently heard some news regarding Puravankara and Sobha builder in Marine Drive... is this true? What exactly are the details? I was planning on investing in this market, whom should I buy the apartment from?


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Replies (5)
1
Ok so I think that it would be a good idea to invest in this upcoming project, simply because it has the backing of two major real estate developers of South India. Especially since Sobha builders are in the fold too, you wont need to worry about much... They will probably get the approvals from almost all the banks.
Rajagopal Menon


2
Oh yeah, Ive heard that the Shobha group bought it from Puravankara for around Rs 326 crores.They have paid half of the money, and the other half they are going to pay 9 months after the plan is approved.
Aadesh Chacko


3
Yeah I heard that they were going to jointly devleop the project. I think this happened because of the huge debt that the Puravankara group has been in
Simon Benedict


4
They didnt sell it all off... I think it was 50% shares of some upcoming project here in Marine Drive. So basically both of them will be co-owners of the project
Maria Nair


5
There has been some kind of a business transaction between them basically. The Purva group sold their project at Marine Drive over to the Shobha Developers.
Rajesh Menon


6

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