| The two projects would see close to Rs 300 crore investments. V S Suresh, managing director, Real Value Promoters, told Business Standard, "We have purchased two adjacent properties of over 5 lakh sq ft (about 11 acres) in Avanishi Road for the shopping mall project and are looking at acquiring additional land as well." |
| While the work on the software park may take some time as negotiations have to be finalised, the construction on the shopping mall project would commence in the next five months, he added. |
| The real estate builder's investment in the shopping mall is expected to be close to Rs 200 crore, which it expects to fund through bank borrowings. This project is planned to be completed by the beginning of 2007. The shopping mall will contain shops, multiplex, food court, restaurant, and a huge parking area. |
| This will be the first initiative taken by the Real Value Promoters to expand its presence in Coimbatore. When asked why they were keen on Coimbatore, Suresh said that software major Wipro is taking up space, which will make other IT companies follow suit. |
| A software park of one lakh sq ft promoted by Kumaraguru College of Technology and a technology park promoted by PSG College of Technology already exists in Coimbatore. |
| Real Value Promoters will be promoting its largest a software park of 4.7 lakh sq ft near the Coimbatore airport. The company has promoted 2.5 lakh sq ft of software park occupied by Tata Consultancy Services. The ongoing construction for software companies is 1.75 lakh sq ft in the IT Corridor and 1 lakh sq ft built-up space at Anna Salai in Chennai. |
| Real Value Promoters expects to close the current fiscal with a turnover of Rs 105 crore. It garnered a turnover of Rs 75 crore last year. The company has so far constructed 17 lakh sq ft of residential and commercial built up space. |
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