Sowparnika Projects Plans New Kerala Housing Project

Sowparnika Projects announces a ₹200 crore investment to expand its residential presence in Kerala over the next three years, targeting ₹725 crore in cumulative sales by FY29 through new housing developments.

Sowparnika Projects, a real estate developer, is consolidating its business operations in Kerala through investments worth ₹200 crore within a span of the next three years. The company is seeking to capitalize on the high demand for quality homes in the state and target cumulative sales worth ₹725 crore by FY29.

In addition to this, the company has introduced another property known as Sowparnika Florenzza, which is the second residential property of the company in the Kozhikode district. It is situated in Kunnamangalam on National Highway 766 and provides easy connectivity to Kozhikode, Calicut International Airport, as well as various prestigious colleges including IIM Kozhikode and NIT Calicut.

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The total number of units in the project is 88 in various sizes ranging from 1.5 BHK, 2 BHK, and 3 BHK. The minimum cost is ₹44 lakh and hence falls into the category of affordable and mid-premium housing projects. The organization feels that the project caters to the rising need for professionals and young couples who are looking for a modern house.

The company says that Kerala still remains a promising residential destination because of its improved infrastructure, growing job opportunities, and urbanization. According to Ramji Subramaniam, the Managing Director of the firm, Kozhikode has shown steady demand for residential buildings, thus becoming an ideal place for expansion plans of the firm.

With almost 70 housing projects completed in South India, Sowparnika Projects is now looking forward to strengthening its presence in high growth markets. For Sowparnika Projects, Kerala could be an important market going ahead due to its sound housing market environment and rising consumer confidence.

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The planned investment is based on the developer's faith in the residential property segment in Kerala. Through increasing the project portfolio as well as providing additional housing products, Sowparnika Projects aims to boost its market presence and help increase the housing stock in Kerala. Provided that the infrastructure develops along with the favorable market environment, the company is certain that its Kerala expansion will contribute to the company's future success.