Thiruvananthapuram, Oct 6 : The Kerala unit of the CPI-M is often referred to as the poor man's party, but when it comes to its assets, no other party is ahead. Now, they have purchased a 32 cents (approx 1/3 acre) plot, opposite their present office in the heart of the state capital for Rs 6.40 crore, to build a new headquarters. According to reports, the documentation for the new purchase was done end of last month and is in the name of state party Secretary Kodiyeri Balakrishnan, who is on leave due to his health condition. The present headquarters, named after legendary Communist A.K.Gopalan, often referred to as the first Leader of Opposition in the Lok Sabha, is a multi-storied complex which houses the party offices, a swanky auditorium, several rooms for its top brass, besides a library and a few halls. Sources in the know of things reveal that construction of a multi-storied complex on the newly-purchased land will commence as soon as possible and is planned to be completed before the term of the second Pinarayi Vijayan government ends in 2026. The new complex is coming up near the flats owned by the party, in which the top brass live with their families. The party-backed Kairali TV channel also has a huge building quite near the party headquarters, while their state of the art building housing their party organ here is also a landmark. /IANS