Kolkata’s luxury real estate market has been in a bit of a slump till now. However, the upcoming Trump Tower and a slew of other luxury housing ventures may do their bit to revive the market as per reports. The visit by Donald Trump Junior to Kolkata for the upcoming residential venture under this brand name may give a booster shot to the luxury housing segment in the city. The Trump brand has always been known as a coveted and luxury nameplate that is the prerogative of a few privileged buyers. The Trump Tower will come up on the EM (Eastern Metropolitan) Bypass in Kolkata and will have 136 luxury housing units in the G+38 high-rise. The project will offer an amazing view of the Kolkata wetlands as well.
More than 50% of the Trump Tower apartments which will have their own in-residence catering facilities and valet services, have already been snapped up by homebuyers as per reports. The Trump Tower project is being developed by RDB, Tribeca and Unimark. This joint venture was established in the year 2016. Trump Tower projects have already been developed in Pune and Mumbai while the one in the NCR is currently being developed. The Trump Tower in Kolkata is expected to be delivered within a period of three years and every housing unit comes for anything between Rs.3.5-5.5 crore.
Apart from the Trump Tower project, there is The 42, the tallest residential towers in Kolkata which is being built and should also boost the luxury housing category greatly. This building will span 64 storeys and is located at the commercial district of Kolkata in its southern end. There are panoramic and awe-inspiring views on offer at this project. Several real estate developers in Kolkata feel that developments like the Trump Tower and 42 are playing a pivotal role in terms of settling the luxury housing market in Kolkata. These projects are creating new benchmarks in contemporary real estate with tons of customer benefits on offer.
Experts feel that India is steadily witnessing this new trend of emerging branded residential properties. These properties have been tailored to function as differentiators, offering absolute privilege and what matters in this segment is the real estate developer’s track record and the delivery of a quality housing unit in a timely manner with all the amenities that have been promised to the customer. Prices have been softening in the luxury real estate market throughout the country although there is a slight revival witnessed in cities like Bangalore, Mumbai and Hyderabad apart from the NCR.
