A city-based real estate major, Siddha Group, is coming up with studio apartments named Xanadu.
These apartments will have state-of-the-art equipment like workstations, wifi connectivity, 24x7 cafes, night clubs, pick and choose stores, miniplexes, vending machines, health clubs, spas, meditation centres, pool tables and elevated gardens.
In the first phase, the group is investing Rs 60 crore and will come up with 314 flats.
In the second phase, another Rs 40 crore will be invested and the number of flats will increase to 500.
“Xanadu will have flats from 550 to 770 sq ft, targeting single people within the age group 28 to 35 years,” said Sanjay Jain, the joint managing director of the Siddha Group.
The cost of each flat will vary from Rs 15 to Rs 21 lakh.
Work on the apartment has started four months ago.
Alongside Xanadu, the group is also developing Siddha Pines, a 250-apartment residential complex near New Town in Rajarhat.
Both Xanadu and Siddha Pines will come up by 2010.
The company is also developing a 35,000-sq ft IT space jointly with the West Bengal Small Scale Industries Development Corporation.