Bangalore-based Puravankara Projects has launched a Rs. 650-crore residential project in the luxury segment of Coimbatore.

The project, “Purva Bluemont”, will have 1,116 two and three-bedroom houses.

The first phase will have about 480 units and will be completed in two years.

The entire project will be overin three-and-a-half years. The area of the houses will be 1,352 sq.ft to 1,872 sq.ft.

Coming up on 16.86 acre plot in Singanallur, the project will have 80 per cent open space and state-of-art common facilities.

It will have 270 two-bedroom houses and 846 three-bedroom houses in five blocks and 16 wings.

The houses will be priced at about Rs. 3,500 per sq.ft. This will be a self-contained project, according to the Chief Executive Officer Jackbastian Nazareth.

The room sizes and amenities provided are its salient features, adds Ashish Puravankara, joint Managing Director of Puravankara.

The company was looking at Coimbatore for a long time. “Coimbatore has tremendous potential. The city is developing and we are here to service the growth,” said Mr. Nazareth.

The company is also looking at launching a Provident project (that catered to mid-segment housing) and retail and commercial projects here.

As a group, Puravankara was developing 20 million sq.ft. The company is focused on residential projects now. It had lands for hospitality projects in the cities it was operating at present, including Chennai, Bangalore and Kochi.

The decision on hospitality projects would be reviewed after six months, Mr. Puravankara said.

m. soundariya preetha