Kochi: A Kerala-based private company has proposed to set up a chain of service apartments at major pilgrim centres in South India with the debut project coming up at the temple town of Guruvayur.
With a target of Rs 500 crore turnover in three years, apartment projects are being planned in Palani, Velakanni, Tirupati and Puttaparthi, according to Sudhir Gopi, CMD, Sudhir Gopi Holdings (SGH). They are pioneers in the field of higher education.
In Guruvayur, the Sudhir Gopi Developers Pvt Ltd (SGDPL), the real estate arm of SGH, is coming up with 12-storeyed 76 fully-furnished and airconditioned apartments, called ‘Vaikundam Retreat´, costing between Rs 60 - 70 lakh.
The two-bedroom apartments would have a built-in area of 1400 square feet and would be completed by 14April, 2009, he said. Gopi said he was expecting a Rs 50 crore turnover from the Guruvayur project.
The SGDPL also had investment plans in the Middle East with the company planning to construct 1000 free hold apartments, each costing 400 million dirhams at ‘Little India´ in UAE for the expatriate Indians. A major portion of the savings of the Indians in the Gulf was spent on rentals, he said. The group’s idea was to build integrated townships for the Indian community.
Apart from small residential units, the township would have Indian colleges, schools, shopping outlets and cinema halls. Negotiations were on with the government on land acquisition, he said.