DOHA: The housing giant of Kerala namely Star Homes, Winner of the Nehru Award for Excellence in Housing, has launched an attractive and safe investment opportunity when buying a Star Homes furnished apartment, which safely takes care of the rental houses of the purchaser thus lessening the headaches of renting out and vacating the tenant.
Star Homes takes back the furnished houses and flats that are available for rent and rents it out under the company's sister concern "The Star Homes Hotels". This company provides furnished houses on rent on daily, weekly, monthly and yearly basis. Star Homes Hotel Division already has more that 300 furnished and unfurnished houses/flats on daily/monthly/yearly rent which are almost fully occupied throughout the year.
The furnished apartments have the ambience of a resort hotel with all the departments such as house keeping, room service, multi-cuisine restaurant, conference and banquet hall for the staying guests. By the end of the year 2005, the company plans to have more than 1000 houses/flats (furnished and unfurnished) with over 2,000 rooms/day on rental and will be one of the largest suppliers of hotel rooms in Kerala.
The company provides complementary pick-up/drop facilities from the airport and local railway station for all the guests and also provides site-seeing tour packages covering Munnar, Kumarakom, Thekkady and Cochin which are conducted by the tour department of this company. These packages are exciting, economical and are covered by luxury coaches and backwater cruises by houseboats.
The mega project Star Apartments in Ernakulam has made a major face lift to Cochin with its attractive well landscaped gardens and its uniqueness.
This project consists of 1,164 villas, flats and shops and is provided with earth quake and cyclone resistant quality designs at the most economical prices with children's park, shuttle court, club house, post office, bank, medical clinic, medical shop, departmental store, 24 hours security and water supply and the most charming landscaped gardens. This mega township has the appearance of a Mini Disney land with its various children's park, fountains, well-lit landscaped gardens, jogging tracks and its natural beauty and is located at Tripunithura just 5km from Ernakulam city
This project is almost sold out and the few remaining apartments are being furnished as an Apartment Hotel to cater to the needs of the tourism boom taking place in Kerala. A purchaser who purchases a three bedroom furnished apartment in this project for Rs14,95,000/- (inclusive of furnishing) gets a monthly fixed rent of Rs8,700/-. A furnished two-bedroom apartment costing Rs12,73,000/- will give the purchaser a monthly fixed rent of Rs7,400/-. The purchaser thus gets a return of almost 7 percent on his investment right from the first month of renting it to Star Homes. When compared to the declining bank interest and the poor returns from other investments and with respect to the present real estate boom and tourism boom this new investment opportunity ensures the purchaser safe and secured returns on the investment apart from owning the house.
This above investment opportunity is available only for purchasers who book at the Star Homes Home Mela going on now.
© The Peninsula 2005
