Trump's first project takes off in India

PUNE : US real estate billionaire Donald Trump's first luxury homes project in India has finally taken off. Trump Towers, two 22-floor skyrises, are being built by Panchshil Realty with Donald Trump at Kalyani Nagar, Pune, under a brand licence agreement. With approvals in place, construction has already begun for the 44 five-bedroom flats admeasuring approximately 6,000 sq ft and priced at Rs 12 crore each.

Having burnt his fingers twice - the Pune project being his third venture in the past three years - Trump signed the agreement with Panchsil only after the developer got all the statutory building approvals in place, sources said.

Trump is also close to finalizing plans to construct Trump Towers at a three-acre plot close toBoat Club in Chennai and another on a 10-acre plot at Noida. All the three projects are approximately worth Rs 1,500 crore.

Trump's first venture at Bangalore broke off within months while Trump's second project in Mumbai with Rohan Lifescape has not moved further due to regulatory hurdles.

Source: timesofindia.indiatimes.com