Kochi: Asset Homes, one of the largest real estate companies in Kerala, would be launching seven new projects across seven districts in the state with an investment of Rs 500 crore.

The projects are coming up at Thiruvananthapuram, Kollam, Kottayam, Kochi, Thrissur, Kozhikode and Kannur, Managing Director V Sunil Kumar told reporters here.

About 10 lakh square feet of space, housing about 700 apartments, will be built as part of the seven projects. "As part of our seventh anniversary celebrations Asset Homes is planning to launch seven new projects across seven locations in Kerala," he said.

The company is organising an exclusive event titled Mehfil in Dubai, featuring Ghazal Maestro Pankaj Udhas in connection with the project launches.

On plans to foray into other states, Sunil said they do have plans to go to Tier II and III cities. "We have identified such cities and will be taken up in 2015-16 as part of affordable housing projects."

Expressing happiness at their project Asset Kasavu at nearby Kalamassery getting the coveted seven Star Rating, he said this was their third residential project to get it and Asset was the only builder in the country to have achieved this.

Asset Kasavu with 50 villas spread over 4.10 acres is priced at around Rs 1.5 crore each, Anil Varma, Executive Director said. The project has a dedicated 10,000 sq ft Club house and amenities such as air conditioned health club, multipurpose banquet hall, sauna, jacuzzi, library and furnished guest rooms. The builder has completed and delivered 34 projects in a period of seven years.