Trump Tower launched in Kolkata, developers aim Rs700 crore in sales
Realty firms Unimark Group, RDB Group and Tribeca Developers have already sold about 50% units since the Trump Tower project was soft launched in October
New Delhi: The iconic Trump Tower comprising 140 ultra-luxury apartments has been launched in Kolkata and its Indian developers are expecting to garner around Rs700 crore in sales from this project.
Realty firms Unimark Group, RDB Group and Tribeca Developers have already sold about 50% units since the project was soft-launched in mid-October. The starting price is Rs3.75 crore for a 2,500 sq ft size flat. This is the third Trump Tower to be launched in India.
The Trump Organization — founded by US President Donald Trump — already has Trump-branded project in Pune partnering Panchshil Realty. It tied up with Lodha group in 2014 for housing project in Mumbai.
“We will be developing about 130-140 units in this Trump tower. The construction work has already started and the project will be delivered in mid-2020,” Tribeca Developers managing partner Kalpesh Mehta told PTI. Asked about the project cost, he declined to disclose the number but said the construction cost would be around Rs7,000 per sq ft in this project.
On sales, Mehta said the response has been very good and the company has sold 50% of the unit within one month. Mehta said the company would soon increase the price by 15%. On sales realisation, he said: “We expect to generate about Rs700 crore from this project. There was a big gap in the super-luxury residential segment of Kolkata, with no branded luxury developments. Despite a price increase, we anticipate a complete sell-off of the development in the next 6-12 months,” Mehta said.
Harsh Patodia, chairman and managing director of Unimark Group, said, “We always believed that the product and the Trump brand would do well in Kolkata, but this has surpassed even our best estimates.”
Vinod Dugar of RDB Group said: “The global appeal of the Trump brand along with the absolute best product offering performed extremely well for us.” Tribeca, Unimark and RDB partnered last year to build this Trump tower, which is located on EM Bypass, the city’s main arterial road and has some of the finest luxury hotels of Kolkata in its neighbourhood.
Tribeca is a boutique branded real estate developer. It has worked with the Trump brand for the last seven years. Unimark is one of the leading real estate developers in Kolkata, while RDB Group has interests in many businesses including real estate and infrastructure.
- Facebook faces potential record US fine on privacy violations: Report
- India’s data must be controlled by Indians, not by global corporates: Mukesh Ambani on data colonisation
- How new TRAI rules will change your Airtel DTH, Tata Sky, Dish TV plans in 2019. List of all charges
- Mukesh Ambani vs Jeff Bezos set to begin from Gujarat
- Marco Pierre White: ‘Chefs are not geniuses or artists, they are just workers’
Editor's Picks »
- What to expect from Q3 results of IndiGo, SpiceJet, Jet Airways
- Forget privatisation, govt has hugged its banks tighter
- Flat profit, rising debt are growing worries for Reliance
- Q3 results: HUL growth off a high base shows it’s on a roll
- DCB Bank Q3 results: Small loans give big pain as farm, mortgages lift delinquencies