Tulasi Mahal: First-ever luxury apartments to grace Jaffna skyline
Tuesday, 21 January 2014 00:01
The iconic city of Jaffna is a modern city in the making. In keeping with the rapid pace of development in Jaffna, Peninsular Property Developers Ltd., a subsidiary of Capitol Developers Ltd. will unveil an exclusive niche development “Tulasi Mahal” which is Jaffna’s first ever luxury apartment complex. Tulasi Mahal, located in the heart of the city is an exclusive six-storey luxury apartment complex completed with 36 units, each consisting of two bedrooms with spacious and comfortable living spaces.
The strategic importance of this location will become more apparent in the future as market leaders in various businesses will encircle the surroundings, making it the most obvious choice when it comes to convenience and luxury living. Positioned along the main A9 highway, alongside the Kachcheri, Tulasi Mahal is the epitome of convenience where all business and lifestyle requirements can be met. In the future, the location would prove to be lucrative to those who decide to invest in it now.
It is a design build project by Sanken, a leading construction company creating changes in the sky line not only in Sri Lanka but also in Seychelles, Kenya, Qatar, India, Australia and the Maldives.
The initial group of investors are eagerly awaiting to indulge in the luxurious lifestyle that is on offer at Tulasi Mahal. Designed by renowned architect Suchith Mohotti, each apartment is completed with a unique combination of style and functionality. The interiors reflect the requirements and the expectations of the discerning clientele. All apartments are equipped with the novel concept of two bedroom/two key system, making Tulasi Mahal the first development in Sri Lanka to incorporate this special feature. It enables the apartment to be used as one large two bedroom unit or two separate single bedroom units which increases its potential as a rental property.
“We are particularly proud to be unveiling Jaffna’s first luxury apartment complex. Tulasi Mahal is one of a kind development that has set very high standards for others to follow. It is an excellent investment for the future, given Jaffna’s sporadic economic growth over a short time span. Tulasi Mahal offers modern convenience and luxury living at an affordable price in the fast developing city of Jaffna” remarked Peninsular Property Developers Ltd. Chairman R. Asirwatham.
As infrastructure facilities in Jaffna improve, returns on investment (ROI) for strategically located lands have increased considerably. Property prices have shot up since the commencement of this pioneering project. An extensive road network has already been put into place to connect the Northern Province with the rest of the country. According to the Ministry of Defence and Urban Planning, the construction work on the Northern Expressway linking Colombo to Jaffna is scheduled to begin in January 2014.The Yal Devi train service which was suspended for the past 30 years is scheduled to resume its services to Jaffna from March 2014.
At present, the trains on the Northern Line are operational up to Killinochchi. The newly reconstructed Jaffna Teaching Hospital was opened in early 2013 to ensure the provision of reliable and advanced tertiary care services to the people of the north.
This one of a kind apartment complex is equipped with a spacious roof top offering stunning views of the city, fully functional restaurant; laundry facilities; stand by generator; CCTV system and round-the-clock security. The modern facilities available in the premises make it very attractive to the rental investment market or for anyone looking to call it their home. Each apartment is completed with high quality materials which include luxury fittings, fitted pantry cupboards with hob and cooker hood, polished ceramic tiles for floors, engineered doors and air-conditioning.
Government statistics show that the economy of the Northern Province grew at a rate of 22% in 2012, which is well ahead of the country’s average growth rate of 8%. Strategic initiatives such as the Jaffna International Trade Fair (JITF), expected to stimulate the economy of the north.
The event will be held in January 2014 for the 5th consecutive year and will attract the participation of over 250 local and international businesses. The Ministry of Traditional Industries and Small Enterprise Development has taken steps to rebuild the Achchuveli Industrial Zone which will create a platform for industrial development in the region and facilitate the development of Small and Medium Enterprises (SMEs) in the North. Several Board of Investment (BOI) approved companies have shown their eagerness in investing in the industrial estate. Currently, over 50 investors have expressed their interest in setting up at the industrial estate.
As Jaffna’s economy continues to grow exponentially, the demand for lucrative developments furnished with modern amenities that ensure convenient and luxurious living is well sought after. Owning a modern apartment in the heart of the city of Jaffna at an affordable price is an opportunity of a lifetime. Tulasi Mahal can be a primary or secondary home, a rental property or as a strategic investment; whichever way you decide to utilise it, a high resale value can be anticipated.
Sanken is partnering with other stakeholders to rebuild the iconic city of Jaffna, few of the company’s ongoing construction projects in Jaffna include Yarl Hotel (operated by Jetwing), Railway stations on the Northern Railway line between Paranthan and Jaffna and student accommodation facilities at the University of Jaffna.
The development is being ceremonially opened later this month. For further information call 0712 736 867, 0777 759 963 or 0714 960 160 or email [email protected], or visit their website http://www.tulasimahal.lk.