Ritwik Mukherjee
Financial Chronicle
Godrej Properties, the realty arm of Godrej Group, has firmed up projects worth Rs 500 crore in and around Kolkata. These projects include two IT parks of 3.5 million sq ft, a retail mall of 400,000 sq ft and a residential project at a later date. Of these, the infotech park venture is already underway.
Christened Godrej Waterside, the IT park in the city’s IT hub — Saltlec (Salt Lake-Sector V) promises to offer each of its occupants, a view of the lake from every floor.
While announcing the group’s plans to put up CESC-Godrej Plaza (a RPG-Godrej Properties joint venture), the first retail initiative from Godrej Properties some time ago, Pirojsha Godrej, manager (corporate development), had said, “While the company had 11 million sq ft at various stages of development in many cities, Kolkata accounted for around 4 million sq ft out of this.” Work on CESC-Godrej Plaza, planned to be a multi-brand mall at Park Circus in Kolkata with a capital outlay of Rs 80 crore, is yet to begin, but Godrej Waterside is coming up fast.
The IT park would be developed in two phases. Tower-I would have 10 levels of dedicated office space, while Tower-II would offer 17 levels of office space, according to company officials. A combination of glass, metal and stone would form the façade of the building, giving Godrej Waterside a sleek look.
Company officials said that Godrej Waterside would offer its occupants facilities such as a food court, outdoor lounge and landscaped surroundings with central pedestrian plaza and water fountain, 100 percent power back up, underground and overhead water reservoir, wet-riser in main staircases and sprinkler system in common areas, rain water harvesting and sewage treatment plant, provision of space for satellite and microwave towers on the terrace of each tower.
The next in line from the company is another IT park, which will be called Godrej Genesis. The second IT park was originally scheduled to be completed by the end of 2010. However, it may be delayed due to the slowdown in the realty market.
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