In an initiative to promote affordable housing in a big way Town & City Developers (T&CD) of the K.G. Group of Coimbatore has taken up a 1,356-apartment mixed housing project in Vedapatti on the periphery of the city.
Priced between Rs 7.25 lakh and Rs 15.9 lakh, the project would offer I BHK, II BHK and II BHK (deluxe) flats of 330-620 sq.ft size, making it one of the largest affordable housing projects in the city.
Speaking to Business Line here on Saturday, Kiruthika Vikram and Sanjana Vijayakumar, Managing Partners of T&CD, said the project would offer 1,356 flats in the I BHK and II BHK formats. While the I BHK flats would be priced at Rs 7.25 lakh, the II BHK flats would be priced at Rs 11.50 lakh, while the deluxe model of the same size would be priced at Rs 15.9 lakh. While the first two models would offer only two-wheeler parking, the deluxe flats would come with car parking facilities, apart having larger living and dining areas, amongst other features.
They said in the first phase, 400-450 flats in all three configurations would be built and as construction, which has already begun, progresses the rest would be taken up. The entire project would be completed by next year. The project would have 240 single bedroom flats, 768 II BHK flats and 348 II BHK (deluxe) flats when completed. The project is coming up on an 11-acre plot about 5 km from R.S. Puram in the city.
Explaining the reasons for taking up the project styled ‘Garden City’ aimed at the low and lower income groups, Kiruthika Vikram said the idea was to cater to the weaker sections of society in need of affordable housing.
Sanjana Vijayakumar said the company wanted to focus on affordable housing in a big way and wanted to build 10,000 houses a year. She said “we are aggressive and ambitious to do that”. But she wanted to go about it cautiously. The land purchase would be need-based. The company was open to expanding its construction activity to other cities in the State but this would be done after completing the current project.
Kiruthika Vikram said the Garden City project would include an auditorium, commercial complex and children's play area, but there would be no swimming pool. The monthly maintenance fee would be in line with industry norms and would be decided by the residents' association.