Siddha Group places its bet on studio apartments

Studio apartments seem to have gradually taken over service apartments in Kolkata. With the launch of Xanadu Studio Apartment, the builders claim that Kolkata would have the country's first 'New York-style one-room multi-facility studio apartments', ideally meant for IT, ITES, airline companies and the Generation Y. The 324-studio apartments project has a G+10 single tower and is ready for possession. The developer, Kolkata-based Siddha Group, is already coming up with an extension called, Xanadu Condominiums. This will have two towers of G+10, each having 110 apartments, with two and three BHK, said Sanjay Jain, joint managing director of Siddha Group. The sizes of the apartments will range from 960 sq ft to 1,455 sq ft with prices varying from Rs 28.32 lakh to Rs 38.20 lakh. The project is expected to be ready for possession by the end of 2013. The name of the project has been inspired by the mythical summer palace of King Kublai Khan and the mansion of Mandrake. According to a company release, the project promises to offer amenities of a super premium HIG lifestyle -- electronic access, remote illumination, bathroom with jacuzzi, space saving furniture, intelligent workstation, wifi, broadband, phone console, power gym, spa, meditation room, nightclub, business centre, a laundromat, round the clock house-keeping services, a 24x7 coffee shop, a convenient store, an icemaker at the end of every corridor, touch screen security system enabling international standard security services, a miniplex, a lounge bar and a splash pool. These come at no extra cost. “Each studio will also have a picturesque balcony,” added Jain. The project has come up at a strategic location: At Rajarhat New Township on the northeastern fringes of the city, which is near the airport. According to Jain, taking up the second phase expansion of the project even before the first phase is sold out is not a risk as it being generally viewed by other developers. “With West Bengal aiming to be the cradle of IT Industry, IT infrastructure is fast developing here. While this is happening, global standards for housing is missing. We have picked the best features of studio apartments around the globe and incorporated them in Xanadu,” said Jain.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=18252&cat_id=1