Rs 125 crore housing project for senior citizens

COIMBATORE: A city based promoter today launched a Rs 125 crore housing project at Puluvapatti, on the outskirts of the city for senior citizens.

The project will have 120 apartments, 60 each in one block, with two and three bedroom facilities, and 30 individual villas on five acres, D Muruga Ramanathan, chairman, M R and Associates and Promoters India Ltd, said.

The company was targeting NRIs for the projects, since their aged parents or relatives can be taken care of with total security and safety, he said.

The apartments would cost between Rs 50 lakh and Rs 75 lakh, while the villas would each cost Rs one crore, with all modern facilities, greenery, garden with flowers and medicinal plants, he said.

The project is expected to be completed in two years, Ramanathan said.