Bata India, India's largest footwear maker, is getting into real-estate development. :)
The model flats will be part of the Calcutta Riverside Project, which is conceived and created by Riverbank Holdings. It is a 50:50 joint venture between Bata India and the Calcutta Metropolitan Group.
"We are looking at a project cost of Rs 1200 crore. We have launched our first phase and the township would be ready by 2011- 2012" says Nandini Basu, VP - Sales & Marketing, Hiland.
Bata, which owns the 262 acres figured out it's best to develop it. That's what pushed it into property development. So, its contribution in this project is the land. On this parcel of land Bata's JV will develop residential projects such as Golf Greens, Mandeville and The Princep. They include condominiums and villas around a golf course, and residences by the river Hoogly.
The Kolkata Riverside Project is a master plan of six architects coming together and it is an ideal example for urbanisation. But that makes the project more special is the Hooghly River.