Rakindo Developers Pvt Ltd, the real estate master planner and developer, has plans to invest about Rs 300-400 crore in this fiscal (2011-2012) across various real estate developments, at its Kovai Hills project in Coimbatore. 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. The funds will be generated mainly through internal accruals and customer advances.
Here it deserves a mention that 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.
Speaking to Realty Plus, Shiva Lakshmanan, assistant vice president (business development), Rakindo Developers, informed, “For the next one year, we plan to invest around Rs 300-400 crore across various developments at the Kovai Hills project. This includes some residential space, a golf course, a golf academy, a sports complex and a club-house.” The sports complex is expected to include 3-4 outdoor and indoor sports like tennis, badminton, cricket, table-tennis, squash, etc.
“Other than the regular sports activities, we will also be having coaches at the academy who will train and help all those who are interested in various sports activities. Hence all aspects of being physical will be entertained at the academy,” Shiva further added.
Their ongoing development at Kovai Hills includes an affordable housing project called Orchids, which will be handed over within the next one year. Two other 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.
The group is also in the process of advanced talks with hospitality players for their Kumarakom Wetlands and Chennai Marina projects. These projects are currently in the pre-development stages and will be launched in the next fiscal.
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