Kolkata to have Versace styled homes

Calcutta, May 22: Calcutta developers are looking to add a premium quotient to real estate projects at no extra cost in a bid to create a market differentiator to have an edge over their competitors.

The city has witnessed a number of launches where builders are promising to create signature homes at no added cost – be it skywalks, branded homes or concierge service.

The latest offering has come from Jain Group in Rajarhat where the builder has tied up with global fashion house Versace to source tiles and wallpapers for its 229 apartments.

 “We want the project to stand out among the rest. A prospective buyer can have a Versace-styled home at no extra cost,” Rishi Jain, director of Jain Group, said.

Home owners will have several options to choose from among the wallpapers and tiles. The developer has set up an experience centre at the project site for customers to get a look and feel of the products.

The group initially plans to provide Versace ceramics in the master bathroom and wallpapers in the master bedroom and drawing room.

However, buyers can use these ceramic tiles and wallpapers in the rest of the apartment or use other Versace products such as furniture, textile accessories and light fittings. The developer promised to source the material from the company directly and at a reasonable cost.

The project’s unit price starts at Rs 5,500 per square foot. Jain said the price was on a par with projects in Action Area II of Rajarhat. The unit price starts at Rs 55 lakh but goes up to Rs 2.5 crore for the duplex apartments.

“The real estate market is still sluggish. Developers are looking at means to fast track sales even though they are coming at a lower margin. Moreover, they are also looking to create a niche for themselves,” Abhijit Das, a real estate consultant-turned-entrepreneur, said.

Forum Group first toyed with the idea in Calcutta when it launched the Atmosphere project on the EM Bypass. The premium project consists of a twin tower conjoined by a floating deck that can double up as a recreation area at 400 ft above the ground. The company also bought a yacht for the residents’ use.

The rest of the real estate pack soon took the cue and began reworking their projects. Developers such as Jain and Siddha came up with ideas in the mid-segment that Forum did for its premium apartments.

After tasting initial success with the Rajarhat Skywalk project, where roofs of several towers will be conjoined by an elevated jogging track and recreation area, Siddha extended these ideas to all its existing projects.

Credits The Telegraph

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