Asset Homes comes out with exchange offer for old apartments

The Kerala-based builder Asset Homes has come out with an exchange scheme for old apartments called Koodumattom for the first time in the state. The company MD V Sunil Kumar said the scheme, common in metros like Mumbai, offers an opportunity to exchange current apartment, house or land in exchange for a new premium flat or villa of Asset Homes. This will allow customers to relocate by selling old apartments and build new residential projects by demolishing old apartments. The customers will have a chance to shift from an old apartment which may have suffered wear and tear to new ones in contemporary style with modern amenities,’’ he said. Most of the apartments which are about 15 years old may command two-third of the current prices, he added. Prop Solutions, which partners Asset Homes, will extend support for selling property. ''The company has a team of moore than hundred experts who are experienced in selling used flats,’’ said James Thomas, MD of Prop Solutions. Asset Homes has so far handed over 56 projects and has 24 projects in various stages of construction across 15 cities in Kerala. The scheme, Sunil Kumar said, aims at providing a boost to the realty sector which is being serious challenged by the of the floods.