Kolkata-based Celica Group, a diversified multi-sector group of companies, has launched their luxury residential project, Celica Residency. This marks the organisation’s buoyant return to real estate development after almost two decades. This exclusive residential property is being developed under the group’s real estate development arm Celica Properties, and will stand tall in the prime locality of Ballygunge, Kolkata.
The Celica Group was founded over four decades ago and today has grown into a reputable institution with a pan-India footprint across various verticals. In its initial years, the group had constructed approximately half a million sq ft of prime commercial space at Celica Park, on Park Street, Kolkata. Thereafter, over the years, the organisation focused on other areas of growth including its finance and automobile verticals. Through the launch of Celica Residency which will consist of a 12-storey residential tower and a standalone bungalow, the group is endeavouring to re-establish itself as a leading player in the domestic real estate market once again.
Even at a point of time when the overall real estate sector is experiencing a critical downturn due to the current pandemic and its resultant negative impact on the economy, Celica Properties’ outlook represents the group’s abiding confidence in the inherent strength and stability of the city and the trust that the group has earned in its 40-year association with Kolkata. The launch of the high-end project Celica Residency, is a concrete affirmation of the company’s firm confidence in the real estate sector’s capability to supersede temporary lapses as long as value is being delivered.
Speaking of the significant undertaking of developing Celica Residency at this time, Adarsh Tulshan, Managing Director of Celica Group, said, “Our Group firmly holds the belief that regulatory mechanisms such as the WBHIRA have played an integral role in restoring the confidence of people in the real estate industry. With Celica Residency, we hope to gift the city a property that offers a premium living experience in this new normal, through a timeless piece of architecture and design. We are nothing short of delighted to re-enter the real estate sector once again, after a long hiatus of over two decades. Celica Properties is committed to drive the industry by executing a number of interesting projects in the pipeline in Kolkata and its suburbs. We are bullish about the sector and the group is firm on its commitment to expand its real estate development portfolio.”