Chowringhee Residency Pvt Ltd (CRPL) who is developing a premium residential real estate project, ‘The 42’, in Chowringhee area in Central Kolkata has achieved financial closure for the project. The company has fully tied up debt portion of Rs. 250 crore of the total cost of the project which is estimated at Rs. 780 crore. The balance amount will be funded through promoter’s contribution of Rs. 275 crore and customer advances of Rs. 255 crore.
The project involves construction of 60 story building spread over 3.57 acres of land involving saleable area of 4.65 lakh square feet. The project is expected to be completed by March 2018.