Shapoorji Pallonji Real Estate gives possession of over 10k units at Kolkata project

Shapoorji Pallonji Real Estate on Tuesday said it has given possession of over 10,000 units so far at its 150-acre large housing project in Kolkata.

The project entails an investment of Rs 2,500 crore.

In a statement, Shapoorji Pallonji Real Estate, the real estate arm of business conglomerate Shapoorji Pallonji Group, said it has handed over 400 more units at its largest mass housing project, Shukhobrishti in Kolkata.

The company is developing 20,000 apartments in this project. After handing over 400 units, the company has given possession of 10,154 apartments.

The company will hand over 2,000 apartments more during this fiscal.

In November 2021, the company raised Rs 200 crore from HDFC Capital to complete this project.

''Kolkata is a promising market for the Shapoorji Pallonji Group, and the company has another residential project in Howrah (near Kolkata) under the Joyville brand,'' Venkatesh Gopalakrishnan, CEO Shapoorji Pallonji Real Estate, said.

In this project, Shapoorji is developing 10,444 LIG (1BHK), 3,840 MIG (2BHK) and 5,716 Upper MIG (2BHK+Study) apartments.

The project was launched in 2006 and is expected to be completed by 2025.