Companies

Akshaya to build South-wide presence

| Updated on: Jul 02, 2011

That the realty market in Coimbatore has bounced back and is on a strong wicket now is evident in the confidence of Chennai-based builder Akshaya Pvt Ltd selling its latest luxury residential project in the textile city.

Speaking to Business Line on the sidelines of a press conference to announce the highlights of the Rs 200-crore residential-cum-commercial project that is set for a Sunday launch, Mr T. Chitty Babu, Chairman and CEO, said that from being mainly a Chennai-based developer, Akhshaya plans to expand to tier-2 and -3 cities in Tamil Nadu and to other Southern States over the next four years. Apart from Coimbatore, where it has already completed a project at Sundarapuram, it plans to enter Tiruchi during the current financial year and Salem and Madurai the next fiscal.

The Coimbatore project has got a four-star rating from CRISIL, he said.He said of the about 90,000-sq. ft built-up area, about 20,000 sq. ft would be commercial space while the rest would form the residential area, and both would be clearly demarcated. The commercial and residential space would play a complementary role, and the commercial building would provide space for restaurant, retail store, banking and office area. It would be a joint venture with the company investing only in construction, space-selling and maintenance.

Mr Chitty Babu said his company believed in the green-building concept and emphasised that “every project we do will be a green building only”.

Published on March 12, 2018

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