G Square, which entered the housing real estate segment just about six months ago, plans to expand to Bengaluru shortly.
Eshwar N., Chief Executive Officer of G Square, told The Hindu recently that the company at present operated in Chennai and Coimbatore. It has launched three projects in Coimbatore in the housing plot segment in the last six months and has one more on the anvil.
“We have sold 80 % of the plots in the three projects in Coimbatore. We will launch a project in Hosur in a couple of weeks and will expand to Bengaluru too,” he said.
The company, which was so far in the land aggregation segment, ventured into housing plots and launched projects on Pankaja Mill Road (11 to 12 acres), Singanallur (four acres), and at Sulur (nearly 13 acres) here. Its sales turnover so far in Coimbatore is ₹ 350 crore and by the end of June it is looking at another ₹ 500 crore here.
“We want to be spread across budget categories and locations and even in communities that we offer we want to cater to every segment of home buyers. For instance, we are looking at theme-based communities such as wellness and sports,” he added. The company also offers a host of amenities even in plots. The size of the plots ranges from three cents to 25 cents, depending on the location and project.
The layout development space has a huge demand but is low in supply in Chennai and Coimbatore. So there is a mismatch in demand and supply. There is an underlying demand for this segment in real estate and G Square is catering to this market. “We will be a game changer as we cater to demand in the layout development space,” Mr. Eshwar said.
