Now exchange your old house for a new upgraded one

Wish to exchange your old house for a new upgraded one? Here's your chance.  Puravankara Ltd, a Bengaluru-based real estate firm, has announced a Home Exchange Plan – an initiative with multiple benefits for home sellers who are looking to upgrade their homes.

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.

Puravankara has partnered with leading banks along with their certified valuation experts, also partnering with key brokers (from all corners of the city) and premium online real estate portals for a three-day event in Bengaluru, the company said.

There is extensive research that suggests a keen interest among property owners of the working populace to upgrade their real estate assets. However, the complex and vague procedures of valuation and resale discourage the move. All they need is additional help to streamline the re-sale process to give them greater predictability of being able to sell their old home.  In the coming weekend, new home buyers can visit Puravankara’s Big 72 Hours Home Fest to have their existing properties-instantly valued so as to help them plan their new home purchase, it said.

Upon contracting to buy a new Puravankara Home, purchasers can choose to enrol themselves into the Resale Assistance Program. This provides for a flexible payment plan on the new  home they choose to buy, a valuation certificate from third party valuation agencies, an easy loan facility against existing property, assistance from empanelled brokers.