Trump Tower Kolkata, which was announced in mid-October2017, has received overwhelming response, with over 50 per cent of the units being sold since its soft launch. The project is being developed by Unimark Group, RDB Group and Tribeca Developers. This is the third Trump Tower to be launched in India and two more are set to be launched soon. India has the highest number of Trump branded properties in the world, outside of North America.
Trump Tower Kolkata has now become the fastest-selling Trump project ever in India. The developers have also announced a price escalation of 15 per cent, ending the inaugural offer with which sales were launched. Even with the increased prices, Trump Tower Kolkata remains one of the most attractively priced Trump properties in the world. Construction, for the Trump skyscraper, located on EM Bypass, has already started.
According to Kalpesh Mehta, managing partner of Tribeca, “There was a big gap in the super-luxury residential segment of Kolkata, with no branded luxury developments. We knew we were on to something when soon after the project announcement, our sales gallery was over-booked for the first two weeks and we received over 10 cheques in the first few hours. Despite a price increase, we anticipate a complete sell off of the development in the next 6-12 months.”
See also: Will President Trump’s immigration policies fuel NRI demand for Indian real estate?
Harsh Patodia, chairman and managing director of Unimark Group added: “We always believed that the product and the Trump brand would do well in Kolkata, but this has surpassed even our best estimates. Despite the city having the third highest number of Ultra HNIs in India, there weren’t enough offerings in the super-luxury space. The inaugural pricing has definitely worked in generating interest and as well as buzz among the buyers.”
In terms of the sales logged so far, the developers revealed that over 90 per cent of the buyers, were residents of Kolkata. The vast majority of them, are from business families of Kolkata, with many families purchasing multiple residences. Almost all the buyers cited self-use as the purpose of purchase.
Trump Tower Kolkata will offer super luxury amenities, including a private rooftop, fine dining space, a lavish infinity pool and outdoor deck, spa and fitness center with sauna, steam and massage rooms, library, lounge, games room, children’s play area and business center. The building will have staff that provide in-residence catering, concierge, 24-hour doorman and valet parking services. Buyers will be able to customise their residences, by picking between classic and contemporary interiors designed by Matteo Nunziati, an Italian interior designer who has previously worked with the Trump brand.
The Trump organisation has licensed its name to five projects in India, of which Tribeca is developing two Trump branded residences, in Gurgaon and Kolkata, totaling 1.7 million sq ft and Rs 3,500 crores gross development value. Trump now has the largest real estate portfolio in India outside the US, with five projects, of approximately three million sq ft, with Rs 10,000 crores of gross development value, in Mumbai, Pune, Gurgaon and Kolkata.
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