Vakil Housing to develop realty projects in Coimbatore

Coimbatore: The Bangalore-based real estate developer Vakil Housing Development Corporation (VHDC), which is implementing a real estate project near Hosur, is looking at gaining a foothold in the Coimbatore real estate market, and its plans will be finalised in a year.

However, the company’s core strength is development of plots and villas and it would not make a foray into apartment construction.

Mr Ramesh Kumar, Manager-Sales Marketing, VHDC, Bangalore, said his company chose to come out with a residential project near Hosur in Tamil Nadu because of the feedback it received from people belonging to Tirupur, Coimbatore and so on.

The project ‘Vakil Hosur Hills’ was coming on a 28.5-acre site which was just 25 minutes drive from the electronic city towards Hosur. Out of the 320 villas planned, 180 have already been sold out. The villas ranged between 1,386 sq. ft and 2,321 sq. ft in size and the available villas were in the price range of Rs 35 lakh to Rs 54 lakh.

This is the first project which the company has taken up outside Bangalore and outside Karnataka itself.

He said the proximity to Bangalore has been fuelling the development of Hosur and just as Gurgaon or Navi Mumbai benefited from their proximity to the mega cities of New Delhi and Mumbai, Hosur also was expected to go the same way.

Mr.Kumar said his company has a large land bank in Hosur and has planned to take up more projects once the current scheme is completed. He said Coimbatore was on the group’s radar and it was scouting for land.

Vakil Group is the main sponsor for the property show which is to be held during July 18-20 in Coimbatore.