"You don't have ownership studio apartments in Mumbai or Bangalore. Now Kolkata will show the way," said Siddharth Sethia, another Siddha joint managing director.

While in cities like New York, a studio apartment is the 'L-shaped' or 'alcove', studio in which the central room branches off into a small alcove that can be used for sleeping or dining, in Singapore, the apartments are built for the senior citizen as well as young working singles.