Keppel Land forays into Kolkata
A Business Correspondent
Keppel Land, the property arm of Keppel Group, one of
Singapore's largest multinational groups, is making its foray into Kolkata with
the development of a 1,376-unit high-rise condominium. A joint venture of Keppel
Land (74 per cent) and Magus Estates and Hotels Pvt. Ltd (26 per cent), the
25-acre site is located within Rajarhat Township, a new 7,600-acre integrated
township with a target population of about 1.5 million people, according to a
company press release.
To be developed in two phases, the residential development is expected to
complete by 2011. When completed, the development will offer residents a host of
recreational amenities such as a swimming pool, a clubhouse, a gymnasium and a
children's playground within landscaped grounds, a release has said.
Keppel Land has also tied up with Puravankar Projects, Bangalore, for Elita
Promenade - marking its first residential project in India. The 9.7-hectare
development is situated in J.P. Nagar, an up-and-coming residential enclave in
south Bangalore. It is a 51:49 joint venture project with Puravankara Projects.
Elita Promenade, located close to Bangalore's IT hubs, is one of the largest
residential developments in Bangalore. Developed over two phases, Elita
Promenade comprises 1,573 units of two- and three-bedroom apartments with unit
sizes ranging from 1,365 to 1,790 sq. ft. Phase-I comprising 944 units is
scheduled for handover to buyers in the first half of 2008.
Elita Horizon is Keppel Land's second foray in Bangalore, which is coming up
[May 12-18, 2008]