Asset Homes Unveils ‘Koodumattom’ to Help those Looking for a New Abode
Kochi: Asset Homes, known for their innovative concepts in the realty sector, is introducing 'Koodumattom', the first-ever exchange offer of its kind in the realty sector. The idea behind the concept of ‘Koodumattom’ is that flats can be sold at second-hand prices, broken down and rebuilt. Like old vehicles, jewellery, television sets and mobile phones, used apartments can also be exchanged for new ones. "It is only natural that people always wish to upgrade things, be it phones, electronic gadgets or vehicles. Similarly, most people are desirous of ‘upgrading’ their houses as well. But the issue here is always reselling the existing property. Under ‘Koodumattom’ we offer customers an opportunity to exchange their apartment, house or land in exchange of a new premium quality Asset Homes flat or villa," said V Sunil Kumar, Managing Director, Asset Homes, here the other day announcing the scheme. This is a practice very much in common in metros like Mumbai, he said. "This opens up an opportunity for customers to relocate by selling old apartments, and to demolish old apartments and build new residential projects," he added. Koodumattom scheme of Asset Homes increases the possibility for selling, demolishing and rebuilding old residential complexes. Apartment-living has been popular in Kerala for the last 30 years and most of the apartments built earlier are facing serious wear and tear. Koodumattom offers the apartment associations and societies an opportunity to buy apartments in the contemporary style with modern amenities. Prop Solutions, which partners with Asset Homes in implementing the scheme, will extend support to the people in selling property, said James Thomas, Managing Director, Prop Solutions. "Loans will be available from institutions such as SBI, HDFC and Federal Bank," he said. Prop Solutions has a team of more than 100 experts who are experienced in selling used flats. The company has been associating with Asset Homes for more than two years now. "Prop Solutions will extend support for quality checking and valuation of old and new properties, and for addressing legal issues under the Koodumattom Scheme," said James Thomas. Aspiring home buyers who are interested in selling their properties through Koodumattom may register at the Koodumattom Expo to be held at Hotel Radisson Blu, Elamkulam, Kochi, on November 25, informed Sunil Kumar. The Expo will also showcase the latest residential projects of Asset Homes. The first phase of Koodumattom will be launched in Kochi followed by Thiruvananthapuram, Thrissur, Kozhikode, Kannur and Kottayam. The scheme aims at giving a boost to the realty sector in Kerala which is being seriously impacted by the unprecedented floods that hit the State recently.