Kolkata: It?s suddenly become difficult to get rooms in hotels like the Oberoi Grand in Kolkata thanks to migrant IT professionals who visit the city frequently.
The spurt in demand has sent room rents through the roof, forcing IT companies to look for alternative means of accommodation.
And real estate developers have moved in to provide service apartments as an alternative.
Real estate developer, Pradeep Surekha, says, "When we did a market research we approached large organisations like IBM and realised they are very keen on these service apartments."
Developers swung into action building apartments and some companies are now looking at long-term tie-ups with the developers for these apartments.
Another real estate company Surekha is building 84 suites and studio apartments in the heart of Sector V, which is the hub of IT companies in Kolkata.
The project is estimated at Rs 25 crore, and will include a nightclub and a spa.
For now the money that has been invested into making these apartments is tantamount to a wager.
If the 'experiment' is a success and generates enough revenue, many more real estate players are likely to jump into the business.
Comments
0 comment