Oct. 11: Luxury real estate in Calcutta will flaunt by 2020 a residential address on the Bypass with a brand name that is hard to Trump.
Trump Tower, the iconic New York skyscraper that wears the family name of the current President of the United States, will have an offshoot adjacent to Science City, putting Calcutta on an exclusive list of residences worldwide with the same tag.
The 135-apartment block is one of four to be launched in India after Pune and Mumbai, ahead of realty hotspots like Bangalore, Hyderabad and Chennai. Bolly star Ranbir Kapoor and father Rishi are among the celebrities who own apartments in the Pune property. Hollywood biggies like Bruce Willis and Steven Spielberg either own or rent Trump-branded condos in the US.
The Calcutta property is being jointly developed by Tribeca, Unimark and RDB and would cost between Rs 4 crore and Rs 5.5 crore for a standard apartment, lower than any other piece of prime Trump estate elsewhere. "This is just an introductory offer. Prices will soar once Don (Donald Trump Jr) visits the city," said Kapesh Mehta, managing partner of Tribeca, also the sole representative of the Trump Organisation in India.
The co-developers are looking at a November launch by Trump Jr, the oldest child of the American President. "I look forward to visiting Calcutta very soon to officially launch the project," he said in a statement.
Trump Jr, executive vice-president of the Trump Organisation, also said that he hoped "Trump Tower Calcutta will quickly become the most prestigious address in the city".
According to Mehta, the Mumbai and Pune properties have seen a 27 to 28 per cent appreciation in prices. "They enjoy a hefty premium over nearby projects. A Trump property is always a good investment," he said.
Harsh Patodia, chairman of Unimark, said the project would have a lot going for it besides the name. Besides the signature black-and-silver glass facade that gives almost every Trump Tower a distinctive look, the Bypass address would have an infinity swimming pool, fine dining space on the rooftop, in-residence catering and concierge.
Even though many of these facilities are now part of any top-end residential project in town, the crucial differentiator apart from the brand name would be the Trump Card. Apartment buyers would automatically become part of a privilege programme in 10 Trump International hotels.
Real estate sources see the competitive pricing as the clinching factor. "Even though there has been a spate of launches in the Rs 5 crore-plus bracket in Calcutta, sales have been in the slow lane. Trump Tower has kept the units compact to ensure a lower ticket size than some peer projects on the Bypass and elsewhere. This may attract local buyers and interest from neighbouring states," a broker said.
