Setting a good example of how demand shapes supply, even in the real estate sector, a Kolkata-based developer had taken a decision to venture into unexplored territory with the city’s first luxury studio apartment block with full-service back-up.
The city-based Siddha Group will construct a sixty crore rupees dedicated block with three hundred fourteen luxury studio apartments in the Rajarhat New Town area on a 2.5 acre plot neat to the area’s main arterial road.
“I have stay in similar studio apartment in New York and found the demand for similar convenience strong among young buyers and working peoples in the city”, said S. Jain, Siddha’s managing director.The idea was to offer buyers possession with a pain-free maintenance experience and in-house facilities, said Jain.
The project would creat new era because in the Kolkata real estate market, small apartments today stood for low-priced housing with poor construction quality, fittings and finish, said property consultant Arun Jhunjhunwala. Density was synonymous with low income group (LIG) housing in Kolkata.