German firm to build timber houses for NRIs

Lured by the real estate boom in Punjab, and the state government's sanction to mega housing projects, a German-based building construction company, Dr Heinisch Building Solutions Ltd (HBS), finds the market good for the construction of timber houses.

Timber houses are favoured the non-resident Indian (NRI) community, who comprise a large population here. HBS expects to generate revenue of at least Rs 20 crore from this in the current financial year itself.

To explore business potential in the state, the company has identified Jalandhar, Amritsar and Ludhiana. Company sources say these could generate a maximum turnover in the market for timber houses.

"We selected the districts because they have a high number of NRIs, who want to construct timber houses similar to those in foreign lands," Sukhman K Pasricha, managing director of the company, said.

He added a large number of NRIs during their annual visit wanted to construct good timber farmhouses, which takes just six to eight weeks.

Pasricha said around 100 inquiries had been generated since the firm started operations in August last year. These houses cost Rs 30 lakh each. The total turnover target of the company, from the entire country, is about Rs 50 crore.