May 18, 2024


Mad about real estate

Kolkata Real Estate to Receive an Ultra Modern Residential Property

Real estate at the city of palace—Kolkata, is set to receive a one-of-its-kind residential property in India. The super-premium twin towers will wear a look of a concept aircraft that will perhaps give a food for thought not only to real estate developers of India but global aviation majors like Boeing and Airbus, also.

This new ultra-modern residential property in Kolkata would bring a unique identity to the city, which at present is known for its poverty and poor infrastructure, said Ramesh Lal, a senior real estate consultant based in the city. And such views do not seem to be exaggeration.

This building at Gurusaday road will not just be a trendsetter from the design point of view. It will be the tallest one in the city with its 41-floors, way ahead than 35-storey South City, 28-storey Hiland Park and Chatterjee International, which sports 24-storeys.

The total cost of the project, scheduled to be completed in the next three years, is estimated at Rs 300 crore. Apparently, the residential units are targeted towards higher-end segment, which have taste for luxury housing.

According to the official sources, buying a residential property in these towers would cost anywhere between Rs 4.5 crore and Rs 7-crore. Interestingly, the industry professionals don’t find the cost too high at these levels. “If you are getting a 10,000 square feet villa like apartment in an ultra-advanced residential building with all luxuries, you have to price,” said Uttam Banerjee, a property broker, dealing in higher end properties in Kolkata.

However, a section of industry professionals holds a contrary view, also. Kolkata is commercially not as advanced as Bangalore, Mumbai or Delhi, and that’s why you cannot be assured of success of such ambitious projects, they say, adding that such properties are not meant for end-users but for investors, who have knack for investing in real estate in Kolkata.

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