Trump Group to construct luxury towers in Mumbai and Pune

Possible Republican nominee for US presidential elections, Donald Trump has recently spoken about India by stating how well the country is doing without being talked about.

Adding further he stated, “I have big jobs going up in India” referring to the two luxury real estate projects rightly named ‘Trump Tower’ that are coming up in Mumbai and Pune.

Signing a brand licensing agreement three years ago, Trump Group will be constructing a 75 storey tower in Worli in association with Lodha Group and a 22 storey twin tower in Pune with Panchshil Realty.

The projected real estate project includes a promise of “a host of exclusive lifestyle privileges, including a 24-hour Resident Manager and white-glove services, access to global Trump luxury properties and for the first time in India — a fractional membership to private jet service exclusively for Trump residents.”

Spread across on a 2.5 acre site with 44 luxurious condominiums across two towers of 22 storeys each, Trump Tower Pune will be the tallest residential building in that city. Each floor will have one expansive apartment of approximately 6,000 sq. ft. with five bedrooms and an exclusive home theatre room.

Adding further, the company stated the real estate property will have an exclusive range of carefully selected lifestyle amenities and services including fitness and recreational options, concierge service, pick-up and drop laundry service, and for the first time, an exclusive art gallery. There will also be a dedicated level for world-class leisure facilities such as John Abraham fitness centres, yoga room, jogging track, kids’ play area, swimming pools, library, business centre and game rooms.

Reviewing the proposed project, Pankaj Kapoor, Managing Director of real estate research firm Liases Foras said,  “These projects are for the high-end luxury market and they do not represent the market at large. Also, it is not that only because it is named Trump Towers, the companies are gaining from it in terms of sales. It is mainly the location and facilities which matter to the luxury market as well as the affordable housing market,”

Rishi Kapoor & Ranbir Kapoor

Actor Rishi Kapoor and  son Ranbir Kapoor have bought an apartment each, spread over 6,100 sq ft in the  Trump Towers located in Kalyani Nagar area of Pune for Rs 13 crore a piece which works out to a little over Rs. 21,000 per sq ft.

The Trump branded project, being developed by Pune-based Panchshil Realty, is the first venture in India by Donald Trump, the American real estate tycoon and Republican front runner  for next year’s US presidential elections. The project has two 23 storey towers with one apartment on each floor.

While the Kapoors did not offer comments on the deals, Sagar Chordia, executive director at Panchshil Realty confirmed the transactions.