Puravankara forays into Coimbatore

Puravankara Projects Ltd has launched its first luxury property in Coimbatore, Purva Bluemont, according to a press release from the company.

Located on the Tiruchi Road, in Singanallur, an upcoming residential area, the 16.86-acre Purva Bluemont offers apartments designed to offer a balanced contemporary lifestyle. Each luxury 2- and 3-bedroom apartment ranges between 1,352 and 1,872 sq.ft.

The layout of 1,116 residential units offers 80 per cent open space, clubhouse, swimming pools, outdoor sport facilities.

The company has completed 36 residential and commercial projects across Mumbai, Bangalore and Chennai and is now developing 16 projects. Till date, 6,500 homes have been handed over to the end-users.

Puravankara is among the first developer to obtain FDI in the Indian real estate industry through its joint venture with Singapore based Keppel Land Limited, the property arm of the 54 per cent government-owned conglomerate, Keppel Corporation Limited and is currently developing two projects in Bangalore and Kolkata.

A wholly-owned subsidiary Provident Housing Ltd has been established, to cater to the growing demand for mid-segment housing. Currently two large projects comprising 5,500 units are being developed in Chennai and Bangalore.

Tata Housing and Arvind partner

Tata Housing Development Co and Arvind Ltd, the integrated lifestyle apparel and textiles company, have announced a equal joint venture for an integrated township near Ahmedabad.

The 134-acre township on the western outskirts of Ahmedabad with over 9 million sq.ft of built-up space will be a benchmark infrastructure project in Gujarat, according to a press release. Tata Housing sees this tie up as an opportunity for the company to tap the market in the State.

Arvind has diversified into the real estate market recently and has three projects in the city, including a premium residential project of about 3 million sq.ft built-up area.

Asvini to launch 7 projects

Asvini Foundations has announced plans to launch seven residential projects over the next three years.

The Chennai-based developer will launch over 30-lakh sq ft of built-up space in 2011-12 covering a wide range of residential market segments in the suburbs of Chennai.

The proposed projects include one residential development in Coimbatore and in Madurai. The total business turnover of the projects will over Rs 1,169 crore, said a press release.

Asvini has a 1,000-apartment, township project at Nellikuppam, a suburb of Chennai located midway between the fast developing IT Corridor and the Grand Southern Trunk Road.

The projects are targeted for delivery by 2014, according to a press release from the company.

Isha pushes affordable segment

The Chennai-based Isha Homes has announced the second phase of its Isha Yara project for budget apartments.

Last year the company announced the 5.91 acre project at Medavakkam, a southern suburb of Chennai, with 444 apartments distributed across 18 blocks of stilt plus four units for hand over in 2012. The first phase of this project was launched in May 2010.

As an inaugural offer of Phase II, Isha Homes has announced a price of Rs 3,575 a sq.ft. This will cover 80 single bedroom flats of each 531 – 570 sq.ft; 28 two bedroom flats of each 801 - 939 sq.ft; and 48 three bedroom flats each of 1,035 sq ft – 1,211 sq.ft. Work on the second phase will begin by June 2011 and is to be completed in fifteen months.

Amenities include a club house with facilities for basketball, shuttle court, gymnasium, library and a multipurpose hall, apart from children's play area.

The company plans to develop unique gated community villas spread over10 acres off the Old Mahabalipuram Road which is to be launched by July.

The other two projects are affordable apartments on GST near Tambaram spread over 12 acres.

Expanding the business to the Tier II cities, the company plans to develop gated community villas at Coimbatore spread over 20 acres.

Both these projects are likely to be started early in 2012.

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