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Primarc invests 300 cr in Bengal real estates
Source: The Hindu Business Line Feb 27, 2014
Primarc Group, which runs the 'Crossword' franchisee in West Bengal, has invested nearly 300 crore in real estate projects in the State. At least six projects across the IT-township of Sector V in Salt Lake, Kolkata proper and other fringe areas and suburbs like Birati and Chandannaore are already under various stages of construction.

Primarc invests 300 cr in Bengal real estates

The Hindu Business Line

Primarc Group, which runs the 'Crossword' franchisee in West Bengal, has invested nearly 300 crore in real estate projects in the State.

At least six projects across the IT-township of Sector V in Salt Lake, Kolkata proper and other fringe areas and suburbs like Birati and Chandannaore are already under various stages of construction.

Apart from Crossword, the Kolkata-based group is also the master franchisee for Raymond in the Eastern region. It also has interest in the real estate sector.

According to Sidharth Pansari, Director, Primarc Group, around 1,600-1,700 new residential units will be added through these projects over the next 5-6 years. Of the ongoing projects, the one in Salt Lake is for commercial usage.

"Except a super premium project (Astitva) in Kolkata, other residential projects would be in the mid-to-high range," he said.

Most of the mid-to-high range apartments would have a carpet area (area covered by the rooms) 600- 800 sq ft and fall under the price bracket of Rs 25 -35 lakh. These would mostly be two- and three-bedroom homes.

The super-premium project would have apartments in measuring between 1600-3500 sq ft, and price upwards of one crore.

According to Pansari, Astitva has been given a green building certification and has been designed to ensure less power consumption, reuse waste water and rain-water harvesting.

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