“The group has identified many projects in south India and other parts of the country to pump in about Rs 5,000 crore in the next five years in developing residential as well as commercial projects,” industry sources said.

When contacted, the Pune-based SRK Group’s Chairman and Managing Director K Rasheed Malik said, “We are looking into new areas and different projects. In Kerala, we have already identified some projects, which we will be developing in the future.”

He, however, declined to comment on the size of the investment the group is planning to put in.

According to the sources, SRK group plans to invest about Rs 2,000 crore in Kerala in five years. It is also likely to launch 3-4 residential projects in the state within the next six months.

Malik said, the group was looking at markets like Delhi, Gurgaon, Ahmedabad, Pune and Chennai.

“Currently we are talking to land owners to acquire land, but nothing has been finalised yet,” he added.

Apart from Delhi, where SRK Group plans to develop only commercial projects, in all the other cities it will develop both residential and commercial properties.

“We are looking to develop about 15 projects in these five new cities with over 100 acres of land in total,” Malik said.

The group, which is currently developing 20 projects in south India, is also planning to construct 100 housing units for Adivasis and poor people in Kerala free of cost, he said.

“We will also be launching healthcare facilities and ambulance services in rural Kerala,” he added.

Spread across 3,000 acres (three sectors), Mohali Hills is the flagship project of the group, being developed as an integrated township housing an international school (tie-up with Singapore-based school Raffles), hospital, multiplex, mall and commercial space besides 13-storey group housing units, plots and villas.

The concept villas, spanning across 300 to 500 square yards, have been designed as Andalusian (southern Spain), Mediterranean and Spanish and priced from Rs 99 lakh onwards. The apartments (cost Rs 47 lakh onwards) and penthouses (cost Rs 90 lakh onwards) have a Middle-East feel. Its villas are fetching a good response with about 50 villas having been sold til now in Sectors 108 and 109.

Emaar-MGF corporate communications head Anupama Chopra said that the company would have followed the same strategy as of “Street of Dreams” for its other large projects. The company currently has two large projects in Gurgaon and Hyderabad and it has plans to disclose its other projects in Ludhiana, Amritsar and Jalandhar in Punjab after its initial public offer for Rs 7,000 crore comes up this quarter.