Rakindo Ready to Launch 2nd Phase of Orchids Near Coimbatore House for Rent Real Estate Today

Rakindo Ready to Launch 2nd Phase of Orchids Near Coimbatore

July 12th, 2011 | by Lucinda Dodd |

Rakindo Developers, a joint venture between Rakeen, a company promoted by the Government of Ras-Al-Khaimah and the Trimex Group in India, is ready to launch the second phase of Orchids. The company launched ‘Orchids’, a gated-community, affordable housing project in Kovaipudur near Coimbatore last January.

“We opened the booking last month. Our plan is to go ahead with the construction of two and three bedroom apartments ranging from 951 sq feet to 1,236 sq feet and numbering 240 and 95 row houses in the second phase. Row houses will have 1,600 sq ft of living space, a small patch of green at the front and approximately 400 sq ft of open space in the backyard of every home,” Rakindo’s chief executive, Dr Prashant Koneru, said.

“Our launch price (Phase I) was Rs 1,600 per sq feet. But in the last 18 months, with the steep rise in the cost of steel, cement, sand and labour, we have also upped our price to Rs 2,000 per sq ft. This appreciation is applicable only for those investing in the houses left unsold, which is about 25 apartments and 29 row houses,” Koneru added.

Located at a distance of around 13 km from the Coimbatore Railway Station with the scenic beauty of the Western Ghats towering in the background, and with the golf-themed integrated township – Kovai Hills, coming up on the other side of the road, the demand for housing in that area appears to have shot up. The area earmarked for Orchids (Phase I and II) is 18.45 acres. The promoters floated 260 apartments and 75 row houses under the first phase of the project.

“We plan to introduce smart card security system and amenities such as a 12,000 sq ft club house including a swimming pool, gym, indoor games, banquet hall, crèche and convenient store. An outdoor basket ball court and tennis court are also in the offing,” V Suresh, assistant vice president (sales and marketing), said.

The developer has already commenced construction of 64 apartments under the second phase of Orchids. According to Koneru, Rakindo would start handing over the apartments and row houses (under phase I) to the respective investors in the next couple of months.

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