According to Mr.K E Ranganathan, CEO, Murugappa group, Coromandel Engineering Company (CECL) is open to the idea of launching residential township projects but would look at this option next year since it would like to focus now on the large number of apartment projects under execution,
Mr.K E Ranganathan, also said, CECL considered Coimbatore as the second most important city in Tamil Nadu for its real estate activity after Chennai .It is also eyeing other tier II towns in the State such as Tiruchi and Madurai
Speaking to media in Coimbatore recently ahead of the launch of CECL's apartment project ‘Coral Ennar' on Avarampalayam road in Ganapathy area in the Kovai city.
Mr.K E Ranganathan, also said, CECL considered Coimbatore as the second most important city in Tamil Nadu for its real estate activity after Chennai .It is also eyeing other tier II towns in the State such as Tiruchi and Madurai
Speaking to media in Coimbatore recently ahead of the launch of CECL's apartment project ‘Coral Ennar' on Avarampalayam road in Ganapathy area in the Kovai city.
highlights
* The CECL has planned to build about 180 apartments comprising 1, 2 and 3 B H K apartments ranging from about 580 sq ft to 1,875 sq ft in size, apart from a single 2,954 sq ft (4 B H K) flat in the project.
* 100 flats would be built in the first phase to be completed by October 2013, the second phase would be taken up in about six months with a timeline of 24 months from the launch date.
* Ganapathy project was that the customers who booked flats would have to pay only 20 per cent of the apartment cost and the balance 80 per cent would be funded by HDFC subject to eligibility of the borrowers.
* The apartments would be priced around Rs 3,500 sq ft. Customers would not be required to pay any EMI to HDFC till the flats were handed over to them and CECL would bear the cost of the EMI till handing over possession.
* CECL is also executing in the city about 35 apartment complex which is nearing completion with a sale value of Rs 16-17 crore.
It will be offering three new projects in Chennai -- in Pallikaranai, Egmore and a high-end project in Srinagar colony (near Raj Bhavan) where the apartments would be priced around Rs 5 crore.
Mr. Ranganathan also said "CECL was studying the township concept and would perhaps come out with some announcement next year."
* Ganapathy project was that the customers who booked flats would have to pay only 20 per cent of the apartment cost and the balance 80 per cent would be funded by HDFC subject to eligibility of the borrowers.
* The apartments would be priced around Rs 3,500 sq ft. Customers would not be required to pay any EMI to HDFC till the flats were handed over to them and CECL would bear the cost of the EMI till handing over possession.
* CECL is also executing in the city about 35 apartment complex which is nearing completion with a sale value of Rs 16-17 crore.
It will be offering three new projects in Chennai -- in Pallikaranai, Egmore and a high-end project in Srinagar colony (near Raj Bhavan) where the apartments would be priced around Rs 5 crore.
Mr. Ranganathan also said "CECL was studying the township concept and would perhaps come out with some announcement next year."
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