E - PAPER

CURRENT MONTHS

LAST MONTHS

VIEW ALL
  • About
  • TEAM REALTY+
  • CONTACT US
  • SUBSCRIBE
  • HOME
  • NEWS ROOM
  • COVER STORY
  • INTERVIEWS
  • DRAWING BOARD
  • PROJECT WATCH
  • SPOTLIGHT
  • BUILDING BLOCKS
  • BRAND SYNC
  • VIDEOS
  • HAPPENINGS
  • E-MAGAZINE
  • EVENTS
    • EVENT CALENDAR
    • UPCOMING EVENT
    • PAST EVENT
search
  1. Home
  2. News/Views

Phoenix Mills Expects IRR of Over 15% for Its Forthcoming Kolkata Project

Phoenix Mills Expects IRR of Over 15% for Its Forthcoming Kolkata Project

BY Realty Plus
Published - Saturday, 18 Mar, 2023
Phoenix Mills Expects IRR of Over 15% for Its Forthcoming Kolkata Project

Phoenix Mills Ltd expects an internal rate of return of over 15 per cent on its forthcoming Kolkata project. The company is likely commence sales next year at Rs15,500-16,500 per square feet (sqft) and thereafter sees a 10 per cent annual increase for the next eight years, until the entire project is sold out.

The company, through a subsidiary, acquired the 5.5-acre land parcel in Alipore, Kolkata for Rs 414.3 crore. It plans to set up a residential project with 325-350 premium homes, spread over 10 lakh sq ft with a potential gross sales value of over Rs 2,300 crore.

The approvals are expected to take 12-18 months after which it would start construction. It also expects to simultaneously commence booking of units. The entire project is expected to be sold out in the next 7-8 years, with an annual sale of about 1-1.5 lakh sq ft. The project would reach completion by 2028-29.

Phoenix Mills is primarily a mall developer and operator, but has built residential projects in some select locations. It has a residential project in Bengaluru with a saleable area of 35 lakh square feet.

  • TAGS :
  • Phoenix Mills Ltd
  • Kolkata
  • project
  • land parcel
  • developer
  • operator

RELATED STORY VIEW MORE

Bank Of China Leases Office Space in Maker Maxity, BKC, Mumbai
ITC Hotels Launch Mementos Udaipur, Its First Mementos Property in India
Purva Land Sells Plots of Sale Value Over Rs. 105 Cr at Purva Oakshire at Launch

TOP STORY VIEW MORE

Japan Real Estate Witnessing Slowing of Inflow of Global Funds

Japan Real Estate Witnessing Slowing of Inflow of Global Funds

25 March, 2023

Shortage of Homes Creating Barrier for Foreign Investments in Australia

25 March, 2023

Kenya Overtakes South Africa as Best Place for Expats to Settle

25 March, 2023

NEWS LETTER

Subscribe for our news letter


E - PAPER


  • CURRENT MONTHS

  • LAST MONTHS

Subscribe To Realty+ online



REALTY+ SPECIAL ISSUES


  • THE TECH TITANS 2022

  • COFFEE TABLE BOOK 2022

  • Anniversary Issue 2022

  • Anniversary Issue 2020

VIDEO GALLERY VIEW MORE

LUBRIZOL Presents Women of Vision Summit & Awards 2023
Get connected with us on social networks!
ABOUT REALTY+

Started in 2004, Realty+, an exchange4media group publication is one of the most respected real estate magazines in India with offices in Delhi, Mumbai and Bengaluru.

Useful links

HOME

NEWS ROOM

COVER STORY

INTERVIEWS

DRAWING BOARD

PROJECT WATCH

SPOTLIGHT

BUILDING BLOCKS

BRAND SYNC

VIDEOS

HAPPENINGS

E-MAGAZINE

EVENTS

OTHER LINKS

SITE MAP

GDPR-COMPLIANCE

COOKIE-POLICY

PRIVACY-POLICY

TERMS AND CONDITIONS

Contact

ADSERT WEB SOLUTIONS PVT. LTD. 3'rd Floor, D-40, Sector-2, Noida (Uttar Pradesh), Pincode - 201301

tripti@exchange4media.com
realtyplus@exchange4media.com

+91 98200 10226


Copyright © Realty Plus Magazine.