Rakindo Developers To Invest Rs 400 Crore in Coimbatore Real Estate
Rakindo Developers Pvt Ltd, India’s first real estate master planner and developer, to invest about Rs 300-400 crore in this fiscal (2011-2012) across various real estate developments in Coimbatore. The funds will be generated mainly through internal accruals and customer advances.
The investment entails the development of a golf course, a golf academy, a sports complex, a club-house and few residential spaces at the 850 acre property at its Kovai Hills project in Coimbatore. Kovai Hills is a golf-centric integrated township near Perur, Coimbatore, set to be built on an 850 acre property that is host to hill ranges, an 18-hole championship golf course, world class villas and unparalleled luxury amenities, swamped by an abundance of nature. The sports complex is expected to include 3-4 outdoor and indoor sports like tennis, badminton, cricket, table-tennis, squash, etc.
Two residential spaces where work has already started are titled Slopes and Highlands. These too will be developed in the next one year and are expected to be completed by 2013. Their an ongoing development at Kovai Hills includes an affordable housing project called Orchids, which will be handed over within the next one year. The group is also in the process of advanced talks with hospitality players for their Kumarakom Wetlands and Chennai Marina projects.
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