Developer of a golf-themed integrated township is luring Muscat-based Non-Resident Indians (NRIs) for selling its villas and ultra-luxury plug-and-play plots in Coimbatore.
The township called Kovai Hills, taking shape in a large 1,000 acre area on the foot hills of the mighty Western Ghats at Pachapalayam in Coimbatore (Tamil Nadu), offers state-of-the-art infrastructure facilities and varied living spaces matching individual styles and preferences. Promoted by Rakindo Developers, Kovai Hills offers mainly three types of habitats — the Highlands, the Links and the Slopes.
“We have different categories (of plots and villas) on the golf course. The Highlands are 290 developed plots with all infrastructure facilities and face the golf course. The Links consists of 315 fully built homes and is also part of the golf course community, but do not face the golf course,” said Prashant Koneru, chief executive of Rakindo Developers.
Another 450 villas (the Slopes) are also part of the residential segment of the integrated township.
“The residential portion of the township will have about three million square feet of built-up area. Our plan is to develop 1,000 homes over the next five years, which is the first phase,” added Koneru.
Rakindo is a joint venture between Rakeen (real estate development arm of Ras-Al-Khaima government) and transnational mining giant Trimex group.
In fact, a Kovai Hills villa will cost anywhere between Rs.8.5 million and Rs.20 million, depending on the built-up area that ranges from 2,500 square feet to 4,000 square feet. However, the little more luxurious plug- and-play plot will cost in the range of Rs.18-20 million.
Kovai Hills landscape is dotted with a reputed higher secondary school, multi-specialty hospital, central mall, a luxurious resort hotel and spa, a sports village, a picturesque golf and country club and a golf academy.
To manage the mega project, Rakindo has formed a joint venture with Weston Solutions — a world leader in infrastructure management to ensure all common utilities and facilities are maintained to the highest standards.
Referring to the development schedule, Koneru said the whole project will be developed in two phases, spanning over a period of ten years. “The first phase will be ready within five years.
And we will hand over the first set of plots (the Highlands) by the middle of next year for the buyers to build their villas. It takes two years for them to build their houses. We will also start construction of villas (in the Links) within a month and it will take two years to handover the first lot of houses,” he explained.
Saying that the demand for Kovai Hills villas and plots is picking up, he noted that buyers of golf-centric plots are mostly from NRIs based in the United States because they understand this kind of model very well. “We also have buyers from the Middle East and Coimbatore.”
In addition to the golf-centric residential villa project, Rakindo is developing 500 affordable apartments and 200 row houses in an 18 acre land within the same area. “A large township of this magnitude needs affordable housing attached to it to accommodate support staff. Construction work is in full swing and 90 per cent of the apartments have already been sold out. The first handover of flats is expected in the first quarter of next year,” noted Koneru.
A one-bedroom flat (in the affordable housing project) will cost around Rs.1.4 million, while a two-bedroom apartment is available for Rs.1.7 million.
Rakindo Developers is also eager to boost golf with its newly created Kovai Hills Golf Academy (KHGA). The academy, part of Kovai Hills, will have an 18-hole championship golf course designed by world renowned golf course architect David Hemstock.
“Further, we have a 9-hole golf course for practice. This has been in operation for the last one-and-a-half years.”
The academy, which is said to be the first of its kind facility in South India with a comprehensive practice and coaching centre, has programmes for the juniors, experienced golfers as well as those interested players from the corporate sector. KHGA has also attracted a couple of schools for its junior development programmes. “We have programmes for school going children and 40 to 50 children are coming for practice.”
Koneru also has plans to set up a sports village in Kovai Hills with one academy each for tennis and badminton. “We are looking for partners. But nothing is finalised yet.”
