Bajoria owned Hooghly group to invest Rs 1,000 cr in real estate

Kolkata, May 24 (UNI) The Hooghly Enterprises, owned by the Bajorias, would invest Rs 1,000 crore in real estate over a period of five years.

Hooghly Enterprises promoter director Sanjay Kumar Bajoria said the group would develop property owned by it at prominent locations at Garden Reach, Ballygunge in Kolkata and one in Howrah.

''Work for a residential apartment project by the side of the Ganges at Garden Reach would start after September,'' Bajoria said.

He said group company Hooghly Investments Ltd would set up the first electronic mall in India at Kolkata at a cost of Rs 35 crore, including acquiring ownership rights.

The speciality mall over 80,000 square feet area in G+3 format at the landmark "Magnet House" in the heart of Kolkata would be built in the lines of the Funan IT and Sim Lim Square in Singapore or Panthip Plaza at Bangkok.

Work for the mall to house both national and international electronic brands has already began and it would be ready before the pujas, he said.

The product mix would include home entertainment goods, office appliances, telephones, industrial and medical instruments, watches and electrical goods.

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