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Shilpa Shetty enters realty business

Mumbai, Apr 15 () : Shilpa Shetty has launched Group Co Developers to jointly develop properties across the country for housing projects. She has a stake in her husband’s Kundra constructions, an online property brokerage portal and now this venture is partnered with Hem Tejuja.

Hem is already a partner with Shetty in her online portal venture. She already has spas and wellness centre and promotes power yoga. In the sports business, she is the owner of IPL Rajasthan. The business model is that the company takes land from owners and develops them, but yet keeps the majority share with them. It has three projects lined up. Two are in Navi Mumbai.

Navi Mumbai’s Taloja project has 75,000 sq ft and in Kharghar with 60,000 sq ft space.

In Gujarat,it is the third project of 150 acres in Lothal, a port city near Sadanand. The company’s projected revenue is Rs 700 crores in three years.

She is entering the realty sector which is dominated by men. Her Bollywood career was nothing much to talk about. Her winning the Big Brother reality show in Britain made her an international celebrity.

Her marriage with Kundra took her to the business world. Her venture into spas, health clubs and selling power yoga is successful. She is seen at all IPL matches and Rajasthan Royals is one of few teams making a profit, since it does not go in for very costly cricketers. Her brush with real estate started by launching a portal, that acts as broker for real estate buyers and sellers. The response led to the new company.

Shilpa Shetty’s mantra for success is that she does not get into any business that she cannot relate to. She says that her middle class upbringing in the Chembur, a suburb of Mumbai, filled with South Indians, made her connect to those wanting affordable homes. Her company will make this dream come true.