Latest Property News on 'Kolkata'

Merlin to Build Rs 200 Crore Office, Sports Complex

Real estate developer Merlin Projects Ltd would shortly start construction of Rajdanga Sports cum Commercial Complex in the eastern fringes of the city.

The total cost of the project is estimated to be Rs 200 crore. Apart from the multiplex, the complex would have a stadium of 5,000 seats, state urban development minister Ashok Bhattacharya said.

The project would have a gym, club and sports facilities for football, cricket and athletes, Bhattacharya said. Read More »

Kolkata’s First Sports-Mall Complex

Ashok Bhattacharya, municipal affairs and urban development minister laid the foundation stone for the first sports complex, which will come up as a public private partnership (PPP) between the Merlin group and Kolkata Metropolitan Development Authority (KMDA) at Kasba in the southern fringe of the Kolkata.

This new sports complex will be called as the Rajdanga Sports cum Commercial Complex, and will feature a huge field to host games like football, hockey and cricket. However, there are no plans to lay a track for athletes in the field yet. Read More »

Real Estate Prices Rise in Tier II and Tier III Cities

As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run. Read More »

KOLKATA: New High In Manhattan-ish Skyline

A 41-floor residential building is going to be the latest and truly high-priced edifice in the Bengal metropolis, dwarfing such skyscrapers as South City (35 storeys), Hiland Park (28) and Chatterjee International (24). This will be called Diamond Top, a product of the Diamond Group headed by A N Shroff. Construction should take around three years from the starting time.

Going by reports, the 84/86 living units in the proposed super-premium double towers in Gurusaday Road will cost anything between Rs 4.5 crores and Rs 7 crores. The Rs 300-crore towers are being designed like a futuristic spacecraft on a 290-cottah prime plot. Each of the units will be patterned like an exclusive villa, some spread across three levels going up to 10,000 sq. ft., according to the architect. Literally on top of everything, a glass-house, illuminated party lounge on the topmost floor, rightly called The Crown, is the piece de resistance. Read More »