Godrej properties to launch luxury residential project in Kolkata
Kolkata – Godrej properties is planning to launch its ultra-luxury residential project named “Godrej Platinum” in the neighbourhood of Alipore, Kolkata.
The project will soon get the final approvals and is expected to launch in April or May 2013. The estimated cost of this premium residential project is around Rs 100 crore.
Godrej Platinum spreads across 1.7 lakh sq ft encompassing 40 lavish apartments. The size of the apartments will be around 3,500 sq ft to 10,000 sq ft.
This is the second residential project of Godrej properties in Kolkata after Godrej Prakriti on BT Road which comprises of total 2,500 apartments in six phases. The possession of the first phase (537 apartments) of Prakriti is on process.
They have also launched two commercial projects named Godrej Waterside and Godrej Genesis in the metropolis. The Genesis at Salt lake is expected to complete in the next 12 months. The total investment in all four commercial and residential projects in Kolkata is around Rs 2,000 crore to Rs 2,500 crore.
Due to economic slowdown, the commercial real estate market of Kolkata remained downward. Thus the company is now focusing on only residential projects.
Alipore is one of the poshest and costliest localities in Kolkata. The demand for luxury residential projects is increasing in this area. Apartments at Godrej Platinum can only be afforded by a limited number of people. The super luxury project ‘Godrej Platinum’ is expected to complete in three to four years.
Godrej Properties Ltd (GPL) is the real estate arm of the Godrej Group. They are developing commercial, residential and commercial projects across 82 million square feet in 12 cities across the country of which 6.5 million square feet area is in Kolkata.
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