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Kolkata Bungalow With Art Gallery, Waterfall Sells For Rs 100 Crores

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Kolkata: A Kolkata based stockbroker has drawn the attention of real estate giants across the country ever since he spent about Rs 100 crore to buy a plush 31,000 sq ft bungalow located in the city’s posh Judges Court.

Prakash Baid, a Kolkata stockbroker, bought the fine piece of property from Sumit Mazumder, chairman of Tractors India Limited.

The deal was brokered by the global luxury real estate company Sotheby’s International Realty. The bungalow’s elegance makes this property stand out in a crowd in the neighbourhood.

The three-floor sprawling bungalow is spread across an area of 3,734 Sq. Yds. plot (Built-up 31,000 Sq. Ft.). It has five bedrooms, 8 bathrooms, a hall, and a kitchen with 12 staff quarters. There are exclusive three parking spaces for the owner and 14 additional parking slots for visitors.

The bungalow also has an art gallery and a beautifully manicured lush green lawn with a 20-feet artificial cascading waterfall.

The white bungalow has its own eclectic style with an exclusive pipe-and-cigar lounge, a library and on its right side is a ‘Ganesha Room’ for those who want to offer prayers.

“Initially, a lot of people thought this property simply cannot sell at this price. We took up this challenge and organised an open forum. You won’t believe, we got responses from 35 clients from Kolkata who showed their interest. The demand was so high irrespective of its price and that too in Kolkata was never heard of before. To meet clients/prospective buyers’ timings, we had to extend the open forum days,” said Ashwin Chadha, President of India Sotheby’s International Realty.

He added, “This property was designed and built by architectural firm Ghosh Bose & Associates in 2007. There are more such luxurious properties in Kolkata ranging from Rs 20 crore to Rs 60 crore, and demands are high irrespective of COVID-19. We are doing their marketing. I think in this pandemic time, our own house has emerged as the most important aspect to connect with family members emotionally.”

“In the luxury segment, on an average, we finalise 80 to 90 deals per year and the volume ranges from Rs 1,500 crore to Rs 2,000 crore. Over the years, Kolkata has emerged as a good market for such real estate deals. This is an indication of increasing UHNI families in Kolkata/Eastern India who actually want to invest in such marquee residential properties,” Chadha said.

Beside this property at Kolkata’s Judges Court, there are at least 12 luxurious properties in Kolkata which are listed on Sotheby’s International Realty for sale. These properties range from ₨ 25,70,00,000 to ₨ 2,50,00,000.

Speaking to News18, Jugal Kishore Khetawat, Director, South City Projects (known premium real estate projects in India and abroad), said, “This property was brokered by Sotheby’s and it’s a good sign that people are investing in such properties in this time of pandemic. If you keep the last few months apart, Kolkata has always drawn attention of buyers who look for ultra luxurious properties.”

Courtesy – News 18

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