With a quality-driven, customer-focused approach, Purti Realty redefines holistic living
Purti Realty, a prominent housing developer from Kolkata, has followed the footsteps of some large builders, by foraying into the hospitality business. The developer is now building a 148 key resort, which will cater to leisure, business and MICE. It is also making 62 luxury villas to be sold as second home on the same sprawling 45-acre land parcel in Singur on the National Highway. Named Meraki Samsara, it is in the vicinity of the abandoned project site of Tata’s Nano car. The project is expected to incur an investment of Rs500 crore.
Purti is tied up with Marriott, the global hospitality chain of hotels, which will manage the resort for the next 25 years. The superstructure of the resort is expected to be ready by end of 2026. “The place will turn into a weekend getaway destination, with merely an hour driving time through the highway,” contends Mahesh Agarwal, managing director, Purti Realty.
Architects Vivek and Anuradha Rathore have designed the luxury villas, which are of 4-BHK and 6-BHK villa configurations and offer an opportunity to deeply appreciate a natural, low-density, living experience. The prices start from Rs4.3 crore for 4,800 sq ft built-up area on G+1.
Traditional rich Bengali families in Kolkata used to have Baganbaris – country houses, which were symbols of leisure for spending quiet weekends. The Baganbari era declined during the Naxalite unrest of the 1960s and ’70s and also due to land reforms. Purti’s effort somehow is to offer a revival of the Baganbari tradition (the ‘second home’ concept) with the Meraki – a sublime retreat, unique in its ambience of tradition and nature. “It is a place to get away from the stress and strain of urban life, when one has to find solace in nature,” says Agarwal.
At Meraki, each vaastu-compliant bungalow has been crafted to offer ample privacy and comfort. The plots range from 11 to 22 kattahs, translating into large private spaces for gardens, sit-outs, personal pools and customised landscaping. This boutique scale confirms that every resident enjoys a sense of exclusivity. The project is laid out thoughtfully, creating a harmonious rhythm between green areas, water bodies and residential zones.
An ideal destination
The efficient connectivity makes Meraki an ideal destination for those wanting to unwind without leaving behind everyday comforts. “These luxury villas offer a ‘second home’ experience, creating personal havens for relaxation and rejuvenation,” says Shrey Agarwal, director, Purti Realty, who spearheads the company’s entry into the luxury segment. A 7-acre lake, which also attracts migratory birds, has been created to border the resort area and the villas for safety and privacy. Over 30 per cent of the units have already been sold.
“After spending three decades overseas, we’re at a point where we want to actually notice life, enjoy the mornings, savour the lazy afternoons and watch the evening sky, instead of constantly rushing from one job to the next,” says Shantanu Chatterjee, manager, Qatar Energy. When he and his wife Soma visited Meraki, they fell in love with the place and now own a villa there.
Purty Realty, a diversified entity of the Purti group’s FMCG business by the Kolkata-based Agarwal family, entered the real estate segment in 2005. The new entrant then realised that real estate activities were not restricted to the city; the demand was also high within a radius of 15-20 km of the city. That was the time when small-time local developers still used to control the market. There was hardly any accountability, with the concept of quality living and proper amenities totally non-existent. Also, these dubious developers would perpetually deliver the project behind schedule, with claims ending up in litigation.
Purty Realty felt that this was an opportunity for them, and they first entered the affordable, mid-segment housing in Kolkata and its outskirts. The management’s creative mind decided to make a difference to the way people live by building homes that are more than just four walls. Their mission was to offer a holistic approach to community living. Gradually, the company also moved into the premium and luxury housing space. Purti Hastings was the first HIG venture of the company, with 3 & 4 BHK flats priced at Rs2.5 crore or more. The project offered a perfect blend of tranquil living and modern-day city lifestyle. Its meticulously designed space imbues the spirit of contemporary designs that create an ambience of peace and privacy for its residents.
This well-thought-out business sense has helped the company to remain a significant player in the segment. Purti has become a known name in the real estate sector in eastern India now. Mahesh Agarwal, 55, MD, Purti Realty, is a visionary, known for his keen understanding of market trends and ensures that Purti is always ahead in a rapidly evolving sector. His nephew, the 38-year-old Shrey, a director of the company, has graduated from Manchester University and is the second-generation leader, bringing fresh perspectives and a global outlook to the organisation. Shrey’s younger brother Ankit (34), also a director, has strong design instincts and does innovative thinking, while Mahesh’s son Devansh (25) has recently joined as a director and is now under close mentorship.
Ahead of time, always
Well-known for its quality-driven, customer-focused approach, the company offers residential, retail and commercial properties across prime locations. “By integrating thoughtful design with sustainable and innovative construction, Purti continues to transform the real estate landscape, catering to the evolving needs of modern urban dwellers,” affirms Mahesh. “At Purti, we have delivered all our projects ahead of time. Today, more than 50 per cent of our sales at Purti come from existing customer references,” he claims.
Over the past two decades, the developer has built over 3-million sq ft residential and commercial spaces that include some landmark projects like Purti Aqua and Purti Veda in Newtown, Purti Iris in Tollygunge, Purti Planet in Behala, Purti Flowers in Maheshtala, Purti Hastings in Hastings, Purti Jewel in Tangra and Purti Nest in New Alipore. Almost 90 per cent of the company’s present revenue, which is close to Rs350 crore, is generated from its residential projects.
Purti Veda, New Town, Kolkata, has 184 flats spread across four towers, each with G+12 floors, offering 2 BHK and 3 BHK configurations on about two acres of land. It offers residents a spectacular view of a large wetland, as also natural beauty, locational convenience and a plethora of amenities that uplift the living experience. The design also ensures ample open and green space to enhance connection with nature.
Veda offers an array of lifestyle comforts that keep one’s feelings vibrant and spirited. The Veda clubhouse offers amenities for all age groups. The banquet hall and the party terrace are major attractions for residents to connect with neighbours at a specious lawn. Water treatment plants, rainwater harvesting, sewage treatment plants and energy-efficient lighting – all combine under this gated community to make life worth living. Also, Purti Veda is strategically located near shopping malls, healthcare facilities and the airport.
Some large players in the segment prefer to operate asset-light models; so, Purti too developed projects with landowners and shares the revenues. But a majority of Purti’s projects has been developed on land owned by it. “We also work with JV partners in some projects, but primarily we go solo,” says Shrey. “We buy our land and develop. We have land experts continuously working on that”.
Interestingly, the implementation of RERA had shifted homebuyers to reputed players or brands, even if they had to pay a little extra. The aspiration level of homebuyers has changed drastically over the decade. “It is good for the industry,” observes Mahesh Agarwal. “Transparency and accountability ensure the buyers’ confidence.”
The real estate market has been on an upswing after the Covid pandemic, impacting buying patterns. It has witnessed a desire to own a home with extra space in an era of stunted mobility and lifestyle centred around the house. Post-Covid, the millennial generation own 65 per cent of the homes bought, as against 50 per cent before Covid. They have realised the stability and security of owning homes. Typically, the requirements that touched 2 BHKs have now changed to 3 BHKs.
Demand for residential properties has surged due to increased urbanisation and rising household income. It was reported that about three houses are built per 1,000 people per year now, as against the required construction rate of five houses per 1,000 population. The shortage of housing in urban areas is estimated to be 10 million units. An additional 25 million units of affordable housing are required by 2030 to meet the growth in the country’s urban population.
“The RBI’s decision to cut the recent repo rate by 25 bps is a distinct positive for the Indian real estate sector, as we close 2025,” says Anuj Puri, chairman, Anarock group. “Demand for affordable and mid-segment homes remains strong in the country, but is hamstrung by high prices impacting affordability. This rate cut can potentially bring at least some fence-sitters to the market.”
Ultra-luxury villas
Purti is now building several projects in and around Kolkata – such as The Varanda, Tatsam, Anaaya, Viraya and Crown, among others – and all are ranging from luxury to MIG. The Dover Road project of the company, located in the heart of the city in South Kolkata, will consist of ultra-luxury premium villas with each unit price costing Rs24 crore. The management refused to reveal further details until compliances are completed. A total of 5.5million sq ft floor area is in the pipeline of the company, worth about Rs3,000 crore, to be built in the next five years.
The Varanda is an ongoing luxury residential development by Purti and NPR in Lake Town, Kolkata. Built on three acres of land, it will have five G+25 tall towers, offering spacious 286 vaastu-compliant flats of 3, 4, & 5 BHK apartments, measuring from 1,883 sq ft to 3,276 sq ft, with prices ranging from Rs2.26 crore to Rs3.88 crore. It has podium parking on two floors and the extensive amenities like pools, gyms, courts, toddler’s zones, gaming zones, libraries, family lounges and banquet halls. The residence area starts from the fourth floor to the 25th floor that offers residents in each building a perfect balance of urban convenience and suburban serenity.
The project is strategically located on Jessore Road, giving direct connectivity to major transit corridors. It is near Calcutta airport, while the nearest metro station Belgachia, is only 1.9 km away. Schools and hospitals are within the vicinity of Varanda. The possession is expected to begin by June 2029. “It is a Rs400 crore project. Once ready, it will be a signature project in North Kolkata,” claims Shrey. The company has already sold 80 per cent of the flats in Varanda.
Availability of large parcels of land in the city is becoming less, with big-ticket developers in Kolkata now looking at the once-so-called suburbs or peripheral areas, for setting up mega housing colonies. Areas previously considered non-lucrative are now witnessing a steady development of affordable housing units, because of lower land prices and large chunks of land getting unlocked from closed industrial units. While holistic community living has generated huge interest among buyers, the demand for affordable housing is also on the rise. Several mega projects are now in progress across river Hooghly on GT Road – once known as the industrial hotbed of Bengal.
While Bengal will always remain the first choice for the Agarwals, the company is also looking at options to go beyond the state. “As the family has grown and the younger generation has joined the business, we are exploring to expand our business into other states. And, Odhisa and Rajasthan have been shortlisted,” Mahesh Agarwal specifies. The land acquisition process should begin within a year.
Purti Realty has shown its ability to remain a significant player in the segment with its designs offering lasting value and its style of combining contemporary lifestyle needs with eco-friendly initiatives. The Agarwals have now set a target to achieve Rs2,000 crore turnover in the next five years.