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Coromandel Engineering Company Ltd (CECL), part of the $3.8-billion Murugappa Group, is planning new residential projects in Kerala and Karnataka, a top company official said today.
The company, which had already made a mark in the residential projects in Tamil Nadu, has started a new project in Kochi with 100 apartments, targeting mid-segment, Mr K.E. Ranganathan, Director, CECL, told reporters here.
Similarly, another residential project would soon commence in Mysore in Karnataka, where the groundwork had already been started, he said, adding, that the company would make an investment of Rs 25 crore for both the projects.
Announcing the launch of its third project in the city, Mr Ranganathan said the first phase of the new project, Coral Ennar, an 181-apartment complex, would be ready for occupation in another three-and-half years, with Phase I comprising 100 apartments to be handed over in 24 months.
The Rs 55-crore project would be constructed in 3.5 acres with features such as swimming pool, gym, party hall, gas bank and garden, he said.
On future plans, Mr Ranganathan said that CECL was in the process of launching premium projects at Guindy and Egmore in Chennai and two more new projects in Coimbatore, the land for which have already been identified.
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