The Hindu Business Line : Prime Textiles realty unit plans expansion

The company plans to promote the first-ever multi-crore township in Tirupur on a six-acre site owned by the company on the prime Avinashi Road area.

Tirupur , June 4

The property development division of the Tirupur-based Prime Textiles Ltd, which is promoting a Rs 90-crore luxury residential-cum-commercial complex in Tirupur, plans to expand to other key commercial towns in Tamil Nadu.

The company will also be looking at other tier-II cities such as Erode, Salem and Coimbatore, and Kochi in Kerala for developing its realty business, as these centres have untapped potential especially for quality residential complexes and townships, said Mr P.D. Patodia, Vice-Chairman and Managing Director of the Rs 120-crore Prime Textiles.

The company plans to promote the first-ever multi-crore township in Tirupur on a six-acre site owned by the company on the prime Avinashi Road area. A mega shopping mall, multiplex, banquet hall and star hotel complex will come up in stage II of the on-going `Prime Enclave' residential project. The total construction area will be 8.5 lakh sq ft (about six lakh sq ft for residential flats and the rest for commercial complex).

The luxury residential flats coming up in stage I of the project in a ground-plus-eight-floor structure comprise 180 two-bedroom flats, 28 three-bedroom flats and four penthouses and will be ready for occupation by the end of this calendar year.

The project's second stage will have 162 three-bedroom flats, 72 two-bedroom flats and 16 penthouses and will be started by August this year, said Mr Patodia.

Among the modern features to be accommodated in the complex are a two-storied club house complex with gyms, indoor badminton court, tennis court, swimming pool and a joggers' track.

There is a dearth of quality residential space in Tirupur, which generates textile export business worth Rs 8,000 crore; Prime Textiles wants to target high-flying businessmen and executives for its high-end residential/commercial complex, who stay in cities like Coimbatore for want of quality living space in Tirupur and commute to this town every day.

South India Corporation Ltd is the builder associated with the first stage of the construction and Prime Textiles is yet to shortlist the builder for stage II of the project.

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