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Lavik Estates has kicked off its first real estate project in Coimbatore.
The residential project — Lavik Shanthi — scheduled to come up on a half-acre plot on Balasundaram Road, will house 31 three-bedroom apartments of 1,859 sq ft to 2,017 sq ft, Laxman Vaidya, founder-promoter of Lavik Estates, told BusinessLine .
“Our focus will be on design and the finer details,” Vaidya said.
He said builders often overlooked the finer details on account of their emphasis on Vaasthu. “We want to ensure that the occupant's quality of life improves once he steps in,” he said.
To a query on the piling inventory, he said “the market is good for premium residential housing; the size of such projects should, however, be small.”
Admitting that he is taking a risk by venturing into apartment construction, he said “one can't afford to be risk averse in business, but I see this as a huge opportunity. There are at present no ‘Grade A’ buildings here and top builders are reluctant to venture into this textile hub as there is no precedence of such construction here. We decided to make a mark.”
The Bhoomipuja for the project was performed last week. Vaidya is hoping to complete the construction and hand over the units (apartment) to prospective buyers in three years.
Lavik Estates is associated with the Rajshree Sugars Group.
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