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Asten Realtors to invest Rs 1,000 cr in 3 years

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The Kochi-based Asten Realtors has proposed to invest Rs 1,000 crore in the next three years in various projects in central Kerala.
The company announced an integrated township project at the suburban Kakkanad, the State’s IT hub, with an investment of Rs 480 crore.
Siraj Mather, managing director and Raffi Mather, joint managing director, said that the 6.5-acre township with a built-up area of 1.4 million sq ft will be commissioned in August 2015.
This includes 368 residential apartments in two blocks with an area of 8 lakh sq ft, 6 lakh sq ft commercial area, 120 room luxury hotel and two malls. The project will also house five multiplexes, 500-seat food court and a parking facility for 1,200 cars.
According to Siraj, the commercial space of the township will provide jobs for around 5,000 people directly. He said that 40 per cent of the apartments with a price tag of Rs 60-65 lakh had already been sold.
Among others, the company will launch two apartment projects, Villament at Mudikkal on the Alwaye-Perumbavoor road and a high-end apartment project at Panangad near here.
The Villament project will offer facilities of both villa and apartment. There will be 58 such apartments, each costing around Rs 2 crore.
There are also plans to construct 40 villas at Koonammavu near here. Work on the 84-apartment project at Kanjirappilly is also progressing and would be completed in 2014.
The company had plans to construct an apartment project at Varappuzha for the middle class segment with a price tag of Rs 25 lakh each.
Besides, the company is planning to invest in warehousing and container freight stations. It has opened a container stock yard at Koonammavu, he added.
Source: Thehindubusinessline

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