Rakindo ready to launch 2nd phase of Orchids near Coimbatore

After launching the first phase of ‘Orchids’ in last January Rakindo Developers is all set to launch its second phase. ‘Orchids’ is an affordable housing project which is being constructed in Kovaipudur near Coimbatore. Rakindo Developers is a 50:50 venture between the India based Trimex group and the Government of Ras-Al-Khaimah promoted Rakeen company.

Dr Prashant Koneru the chief executive of Rakindo Developers said that bookings for he second phase was opened last month. He also said that as per the company plans the second phase will have 240 two/three bedroom apartments with areas ranging from 951 sq feet to 1,236 sq feet and will also have 95 row houses. The living space of the row houses will be 1,600 sq ft which will also have a small patch of green at the front and a open space in the backyard measuring approximately 400 sq ft.

Dr. Koneru said that although the Phase I launch price was Rs 1,600 per sq feet the company has been compelled to increase the same to Rs 2000 per sq feet due to rising costs in steel, cement, sand and labour in the last 18 months. He however clarified that this price increase is applicable to only those houses left unsold. Dr. Koneru revealed that about 25 apartments and 29 row houses are still left unsold.