Rakindo To Set Up $1.5 Billion Integrated Township

Real estate developer Rakindo Developers has unveiled its plan to build a $1.5 billion (Rs 6,000 crore) integrated township at Coimbatore. It is expected to be ready for launch by the last quarter of 2008. Mr Prasad Koneru, MD, Rakindo Developers, told that the flagship project of Rakindo Developers in the texcity will be developed over 1,000 acres with an 18-hole golf course as the centerpiece.

The self-sustaining township would house luxurious golf course villas with scenic mountains and lush greenery in the background. Mr. koneru said,“We are a master developer, who believe in the concept of optimum utilization of land rather than looking at per square feet utilization”. Further he said that the project will be independent of the existing infrastructure system, by bringing in a comprehensive facility management. On pricing, Mr Koneru said while golf-facing villas would command a specific price; there would also be high-end and medium-range apartments.

Scheduled to be launched in the third quarter of this year, the project, will be built around the concept of ‘walk to work culture’, which is the central theme of all Rakindo properties. It will also have an IT SEZ, specialty hospital, schools, star hotel, clubhouse and wellness Centre, retail, commercial and residential developments.

Stating that it is not targeting investors but customers, who are desirous of experiencing a township way of life, Mr Koneru said “ultimately, we do not want to create a ghost town as our objective is to creatively service people.”