The Hindu Business Line : Puravankara plans developing high-end housing complex in Colombo

Bangalore March 31 Puravankara Projects Ltd, the Bangalore-based real estate developer, will soon launch a high-end residential project in Colombo. "This is our first foray overseas, and talks are in the final stages," said its Chairman, Mr Ravi Puravankara. The project will have 200 villas coming up on a 24-acre property on the outskirts of the Sri Lankan capital.

The company is also in talks with potential hospitality partners for four large luxury hotel projects in Kochi (on the Marine Drive), Hyderabad, Chennai and Coimbatore. "We would be signing the agreement for these in another three months," Mr Puravankara said.

He said the company would have a greater focus on Chennai, as "Chennai is the next boom city". Its first project in Chennai, a high-end residential complex, would be launched next week. "Purva Swan Lake would be located on the Old Mahabalipuram Road on an 11-acre campus," he said. The complex with about 700 two- and three-bedroom apartments will have amenities such as a clubhouse, swimming pool, squash, tennis and badminton courts, an indoor game zone and beauty parlour.

The company has plans for seven other projects in Chennai, Mr Puravankara said. One of these would be a very large residential project at Pallikaranai, a Chennai suburb, on a 50-acre campus. "These also would be upmarket apartments; we are also planning neighbourhood development like approach roads, etc for this project," he added.

Aiming to "define the lifestyle in South India," the company also has projects under development in Kochi, and cities like Hyderabad and Coimbatore are also on its radar. "We are in the process of land acquisitions and getting sanctions in Coimbatore and Hyderabad. The company will be launching two mega projects in Kochi soon," Mr Puravankara said.

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