Ahead of the festive season, Bengaluru-based Puravankara Ltd has introduced a virtual real estate currency for homebuyers planning to book housing units. Buyers can redeem points up to Rs 5 lakh.
Purva Cash can be redeemed against any Puravankara and Provident projects located in Bengaluru, Chennai, Kochi, Pune, Hyderabad, Goa and Mangalore. September 29 2019, is the last date to redeem the virtual currency.
Homebuyers can be part of this initiative by registering on the company website, Facebook page or Instagram page under the Big72 initiative of Puravankara and earn 50,000 Purva Cash points. One point equals Rs 1. The mascot of this initiative is Chanakya, the ancient teacher and royal advisor.
Additionally, a bonus of 10,000 Purva Cash will be given to homebuyers for every successful referral. Every individual can redeem up to 5 lakh of Purva Cash depending on their choice of project.
The currency is transferable.
“Additional Purva Cash can be transferred to your friends and relatives. Every time you refer a customer – family or friend who are keen to buy property with the company, you get a referral amount worth Rs 10,000,” Vivekanand Babu, president, sales, marketing and CRM, Puravankara Ltd, told Moneycontrol.
Big72 event is being held from September 27 to September 29. “Purva Cash redemption is limited. How much cash you can redeem against each of the projects is limited which will be announced on the day of the event. It depends on which project you are looking at buying at that point in time. Discounts are purely based on the inventory we have at that point in time. The offer could be higher for leftover inventory. The reward points can be redeemed until September 30 midnight,” he explained.
In Bengaluru, the company has close to have about 1000 units on offer; In Hyderabad, there are close to 100 plus units, Goa there are about 200 units and in Chennai there are close to 200 plus units.
Another interesting feature is that the points are transferable. “These can be transferred to family and friends. A channel partner in India can redeem points on behalf of his NRI clients wishing to invest in property in India,” he said.
Big 72 started in 2017 and is a once a year event.
“At this point in time it is only towards redemption of purchase of property. Depending on the response we get, we may decide to add more features and enable our existing customers to benefit from it,” he added.