SRK Group is planning to invest Rs 50 billion in Kerala in the next five years for building apartments and villas in around 16 projects in places like Kochi, Thirssur and Thiruvananthapuram. The group currently has 20 projects on hand, including a township called Skywing near the SmartCity promoted by Dubai Internet City.

The group is also looking at markets like New Delhi, Gurgaon, Ahmedabad, Pune and Chennai. It plans to develop only commercial projects in Delhi while elsewhere it will develop both residential and commercial properties.

India’s largest builder, DLF Ltd, has also announced plans to invest Rs 40 billion over a period of five years in various projects in Kerala. The company is also looking at commercial projects like hotels, shopping malls and office complexes, according to M.G. Girish, Vice-President of DLF Homes.

A mega residential project, New Town Heights, coming up on the Seaport-Airport Road at Kakkanad in the suburbs of Kochi, is receiving good response. The rates start from Rs 2,600 a sq ft.