Mint Homes, the US-based Rs 300- crore real estate development and
construction group, promoted by a non-resident Indian, plans to invest
Rs 100 crore in high class housing, resorts, eco tourism and integrated
organic farms in Coimbatore.
The investment is planned over two years for high-end residential and
hospitality projects through the Indian arm, Mint Homes Pvt Ltd. This
investment is raised fully internally without the aid of loans. According
to Raj Natarajan, director, Mint Homes.
``The company has started construction on 2.7 acres in Sowripalayam
for developing an integrated high-end housing complex and the project
will be launched in January next year. The company proposes to build
four towers and the first one would be ready by January 2009 and the
other three by that year-end.
A park and club house would be completed before the residential complexes
in March 2008.Mint Homes will also be looking at developing 250-acre
township projects in selective tier-II cities like Coimbatore and Mysore."
The distinctive feature of this NRI venture would be the two to ten
year warranty that comes with materials and workmanship besides its
transparency and reliability.
The company plans to manage the complex and community for 10 years and
then handover the management to the residents. Coimbatore with its pleasant
weather, healthcare and educational institutions offered a perfect recipe
for infrastructure development in the future for this debut venture.