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Rs 1-crore tag for NRI flats at New Town


By Dr arvind, Section Real Estate
Posted on Mon Nov 27, 2006 at 05:07:45 AM EST

A 3866 sq ft apartment for Rs 1.11 crore in Rajarhat. Five years ago, you'd have dismissed it as a joke. But now the offer comes from an upcoming housing estate -- Rosedale Garden Complex, meant exclusively for NRIs.

US based developer Santosh Mukherjee claims the proposed "star category" flat will include a basement and an extended terrace. Flat prices in the complex range from Rs 40 lakh to Rs 1.11 crore.

"We have been getting a huge response from NRIs all over the world. In fact, some other states have also requested me to set similar projects. But I felt I should do it in Bengal. The project is at the initial stage. We intend to hand over the keys by 2009," Mukherjee said.

*There will be six towers in all and 564 flats in G+25 blocks

*The complex will have 60 flats reserved for senior residents

*There will be clubs, swimming pools, tennis courts, gyms, malls and restaurants

*Work has started on the project. Keys will be handed over by 2009

*The "star category" flats are priced between Rs 40 lakh and Rs 1.11 crore

Encouraged with the response, Mukherjee is now looking for some more land in Rajarhat to take up a second project.

The MD of the Rosedale Housing Complex Inc, Mukherjee said the motto of setting up Rosedale Garden Complex is to bring NRIs back to Bengal. "There are many non-resident Bengalis who want to come back to their own country. But they want the amenities available abroad here as well. This complex aims to address such demands," Mukherjee said.

And Mukherjee has got more plans up his sleeve. "My next project is to build bungalows for the upwardly mobile young NRIs. I have already received phone calls from seven other states, namely - Maharashtra, Orissa, Karnataka, Andhra Pradesh, Rajasthan, Himachal Pradesh and Punjab to set up similar complexes there," he said.

Rosedale will have six residential towers with 564 flats, 60 of these for senior residents. There will also be clubs, swimming pools, tennis courts, gyms, shopping centres, restaurants, supermarkets, drug stores in the estate. There will also be 24/7 security arrangements, cooking gas supply, purified drinking water and Laundromats.

From: TOI, 27/11/06

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