SFS Cyber Palms, the emerging flagship property of leading developers Skyline Foundations and Structures (SFS), has been assessed at the Crisil 7 Star Rating.

This is a class-topping and project-specific recognition that Crisil, the rating company, has evolved for intra-city real estate projects.

Mr Lodd Rajendra, Head-Business Development, Ratings, at Crisil, gave away the certification to Mr K. Srikant, Chairman, SFS, at a function here on Monday.

SFS Cyber Palms, strategically located in the IT corridor here, has been designed by Surbana, the Singapore-based architects of renown.

FIVE TOWERS

Later, speaking to newspersons, Mr Srikant, and Mr K. Lava, Managing Director, SFS, said the Cyber Palms comprises five individual residential towers — Oliver, Peach, Cherry, Ivory — and the latest addition Silver configured in 1, 2, 3 and 4 BHK.

Two towers, Olive and Peach, have been completed and work on the third, Cherry, is fast nearing completion. Ivory, the fourth, will be delivered in 2013. Silver has just been launched.

There is an increasing trend towards apartment-living style among home owners and aspirants in the State, according to Mr Srikant. The trend cuts across towns and cities, and is prompted as much by security considerations as by the ease to unwind and for recreation.

OWNER PROFILE

SFS Cyber Palms is perfectly positioned to meet both these aspirations, he added. An emerging but significant difference in the profile of the new homeowners is the declining proportion of non-residents.

The non-residents, either settling back home or holding title in absentia, used to own as much as 70 per cent of the incremental housing stock coming up in prime residential areas in cities and towns in the State.

But the new ownership dynamics brought about by a resurgent domestic economy backed up by easy liquidity facilitated by bank loans have fuelled home-buying locally by young professionals, which has brought non-resident ownerships in new projects to below 40 per cent, says Mr Srikant.

THRESHOLD AGE

The threshold age group for first-home buying, too, has come down to the thirties, says Mr Lava.

SFS Cyber Palms, he said, has been brought up in strict conformity with the Kerala Building Rules and adheres to green building principles as well.

The project has provided for a sewage treatment plant on par with global standards. Recycled water is being used for gardening and other purposes. Rainwater harvesting for an estimated 16 lakh litres is another attraction.

The ground-breaking ceremony for the project was performed in 2006 and was among the first to deploy a tower crane at the site. Some 700 to 800 people were at work during the peak of construction activity, Mr Lava said.

Around 50 families have already taken possession of the first two towers at Cyber Palms.

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