Godrej Properties to invest Rs 300-400 cr for projects in Kolkata

Kolkata, Jul 10 (UNI) Godrej Properties Ltd will invest Rs 300-400 crore for three projects in Kolkata.

Company's manager-corporate development Pirojsha Godrej told reporters it will set up two large IT parks in Kolkata with 3.5 million square foot area and a plaza in collaboration with the RPG group.

The CESC-Godrej plaza at Park Circus in over 0.5 million sq ft.

expected to be commissioned in March 2008. The proposed investment in the project is around Rs 70-80 crore, Godrej said.

Internationally renowned architect RTKL has been appointed for the plaza and Techno Pack has been appointed to formulate the mall's strategy, he said.

"The land price is reasonable in Kolkata. We are actively looking at developing residential projects in Kolkata in either single or joint venture basis," he said.

Godrej Properties has developed commercial and residential projects in Maharashtra. Apart from the three projects in Kolkata, the company is doing another project in Bangalore.

"We are entering into other cities like Chennai, hyderabad and other cities," he said after meeting senior executives of RPG group here.

He said the company, having sufficient funds in its coffers, is looking for tie-up to access funds internationally in the current fiscal.

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