Pen Group makes foray into real estate in Kerala
The first project being executed by the Pen Group is a 60-acre residential project, "Pen Airport Village". The Pen Airport Village is a prestigious project of Pen Properties, a subsidiary of Pen Group. It is a mega-housing village in approximately 60-acres of land just beside the Cochin International Airport. Pen Properties is developing the layout and will provide basic infrastructure facilities. The company is selling 450 plots of 10 cents each at approximately Rs. 95,000 per cent. The site is ideally located with access from five major approach roads.
The group also plans to develop holiday villas at popular tourist centres like Vagamon, Munnar, Thottapalli in Alappuzha and Cherai beach in Ernakulam district, according to Pen Group Managing Director Poli K Ayyamballi.
The company is also planning a retirement home, 'Saayanthanam', at Manjapra, 10-km from the Nedumbassery Airport. This consists of 120 villas, set in 5 cents each, priced at Rs 17.5 lakh. The homes are to be completed within 18 months, Mr. Ayyamballi said.
On the retail front, Pen Group plans to develop a chain of 30 'Treasure Hunt' retail showrooms across Kerala in Kochi, Kozhikode, Thiruvananthpuram, Thrissur and Aluva.
Big real estate ambitions indeed from a small publishing company!
By INRnews Correspondent
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