NRI Real Estate and Property Investment in India
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US based Real Estate firm turns to Coimbatore with Rs 100 crore investment
Thursday, December 20, 2007

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.

 

 

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