Sanjiv Goenka has entered into residential real estate

Q: The group is planning to develop about 12 lakh sq-ft of residential and commercial space in Bengal and Maharashtra.

Shantanu Kumar, Mumbai

22nd January 2016

Real estate News in Mumbai

sanjiv goenka

rp-sanjiv goenka group

quest properties india

project at shyamnagar in bengal

residential projects in shyamnagar kolkata

haldia project

cesc

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Replies (2)

@Govinda,
They are the big players and funding is not an issue for the group. Goenka's firm will build 3 projects across Bengal and Maharashtra with a total of 1204168 sq-ft of developed space.

The project at Shyamnagar in Bengal will be spread over an area of 807293 sq-ft on the land of the closed Mulajore power plant owned by CESC.

Kaushik Bardia,

22nd January 2016

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And the Haldia project, on the riverfront, will be spread over 300000 sq-ft, and will have a provision for housing CESC staff working at its 600 mega watt thermal power plant.

Govinda,

22nd January 2016

The company has set up a subsidiary, Quest Properties India. At the same time, being the chairman of CESC Limited, and with companies like Firstsource Solutions Limited, Philips Carbon Black Limited, Spencer's Retail and Entertainment major Saregama Limited, Goenka is the co-owner of ISL football club, Atletico de Kolkata and has recently bought the Pune IPL team.

Kaushik Bardia,

22nd January 2016

Comment

But i think this is not the right time to enter, as the real estate sector has been facing a slow down over the last few years. Buyers confidence is at a low due to many project delays.

Govinda,

22nd January 2016