Kerala firm in city property market rush

Kerala Transport Company (KTC), a Rs 300 crore Kozhikode-based diversified group, will enter the city's residential and commercial real estate market. PVS Apartments, a group business, has picked up large parcels of land in Bommasandra and north Bangalore, said P V Nidish, a partner in KTC.

"The group is presently holding road shows to promote its latest venture. With the success of Metro One, a mall in Kochi, Kerala, we plan to replicate smaller models in district capitals," Nidish said.

Kerala has in recent times seen a lot of knowledge-based business activity such as IT, IT enabled services and Biotech. Also the city is vibrant with projects such as the LNG Terminal, a golf course, a special economic zone and Vallarpadom Container Terminal.

"Retailing is booming in Kerala, especially in Kochi and we felt that a mall would suit the changing business needs," said Nidish. With an investment of Rs 30 crore, the group has taken up construction of Metro One.

Nidish said, the mall project has been registered under a global investors meet and an MoU signed with the Kerala State Industrial Development Corporation Limited(KSIDC).

"This mall which is presently in level II of its construction has 43.60 metre facing the road, has a car park that can accommodate 360 cars and we plan to provide banks, supermarkets, restaurants, showrooms, business centres, food court, garment stores all under one roof," he said.

KTC, since 1958, has interests in sectors such as automotive, healthcare, entertainment, oil, real estate, printing, food processing and education. It started its real estate business in 1991 and has executed projects in Kochi and Kozhikode, he said.