To capitalize on India’s booming wellness market, South City Projects, one of the leading residential and commercial property consortia in East India, said it is developing a Rs 600 billion hotel and real estate project in Kolkata. The entire project is expected to be completed by the end of 2023.
The South City Ayurveda & Wellness Retreat project will be a luxury township spanning 80 hectares of land on the Basanti Highway. For the project, South City worked with Carnoustie Management (India), an internationally recognized brand in the luxury hotel and wellness sector.
The project houses 30 luxurious rooms as well as the Carnoustie Center of Excellence and residential villas. “The South City Retreat is en route to the Sundarbans Biosphere Reserve, a UNESCO World Heritage Site, making it a more attractive tourist destination for both domestic and international travelers,” said Sushil Mohta, director of South City Projects.
“The hospitality part and some real estate parts will go into operation in December of this year. So far we have sold 27 villas that have already been built. The average price of these properties is over Rs 3 crore. Kolkata’s High Networth Individuals (HNIs), executives and business people are buying these villas. We plan to build around 100 villas, ”said Mohta, adding that the entire project will be completed by the end of 2023.
South City Projects is investing Rs 100 crore in the construction of the proposed Ayurveda retreat and the total cost of the project will be Rs 500 crore. The company claims the wellness center will be the first of its kind in East India to offer a healing natural method to cure some of the major health and lifestyle ailments.
“The total wellness market in India is valued at Rs 49,000 crore and wellness services alone account for 40% of that market. We hope that our wellness center will capture a significant part of the market in the east, ”added Mohta.