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XS Real to launch 2nd affordable housing project in Coimbatore

LN Revathy Coimbatore | Updated on January 31, 2018

The second phase of XS Real’s affordable housing project ‘Courtyard’ is expected to be launched this weekend.

Located adjacent to Phase I of Courtyard at Neelambur on Avinashi Road, the second phase, according to C Nagaraj, Chief Operating Officer, XS Real Properties Pvt Ltd, will have 202 two-bedroom apartments and 46 single-BHK apartments.

The floor space of the one-BHK dwelling units will hover around 442 sq ft and the 2-BHK apartments between 593 and 786 sq ft and priced between ₹19 lakh and ₹32 lakh, he said.

The Chennai-based property developer entered Coimbatore with the launch of Courtyard-I in April 2017. “This is nearing completion. We will be handing over the property to prospective buyers ahead of the delivery date. Eighty per cent of the 108 apartments in Phase I was sold within a week of its launch. The overwhelming response made us launch this upcoming project,” G Sudhakhara Gupta, Chief Executive, XS Real, told BusinessLine.

“We have commenced foundation work on phase II and hope to complete the project in 18 months,” he added.

XS Real is planning a few more projects in Coimbatore, besides looking at other cities for development of affordable housing projects in the State. “We have around 4 million sq ft space in the pipeline,” he said.

He conceded that the market sentiments in the affordable housing space is tending to look up after three years of lull. “Prices have already touched rock bottom. It will not go down further; it is the right time to invest,” he said.

The company has invested ₹75 crore in the project.

Published on January 31, 2018

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