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KMDA makes grand plans for city expansion
Now that it’s almost impossible to find living or office space within the city, Kolkata Metropolitan Development Authority (KMDA) is focussing on expanding the city by developing areas just beyond Kolkata’s present limits — peri-urban areas in KMDA parlance. These areas, on either bank of River Hooghly, cover a whopping 609.05 sq.km of land over 37 [...]
Continue reading...Rajarhat to be first zero-energy town
27. July 2010
Rajarhat is set to become India’s first near-zero energy satellite town (ZEST), thanks to efforts by the US department of energy (DOE) and the renowned Brookhaven National Laboratory (BNL). The BNL and DOE have initiated a special project that involves turning Indian and Chinese cities into energy-efficient hubs. A team led by Vatsal Bhatt, research [...]
Continue reading...Rajarhat on Centre’s township list
24. July 2010
The Centre has selected Rajarhat as one of the eight upcoming satellite townships of the country, where it would sanction 80% of the total cost of implementing civic infrastructure projects. Urban development minister Asok Bhattacharya revealed this on Friday at an interactive session organized by the Bengal National Chamber of Commerce and Industry. Central funds will [...]
Continue reading...Kolkata’s heritage sold for Rs 12 cr
10. July 2010
40 Buildings Robbed Of Heritage Tag, Sold To Realtors Kolkata Municipal Corporation (KMC) has quietly removed around 40 buildings from the heritage list after being allegedly paid nearly Rs 12 crore by different builders who have acquired the properties and even demolished some of the buildings to develop projects. While the Indian National Trust for [...]
Continue reading...Tata Housing forays into luxury housing in Kolkata
12. June 2010
Tata Housing Development Company (THDC) is foraying into luxury housing in Kolkata with the Eden Court Primo at New Town, Rajarhat. The project consists of two high rise towers with sky garden and the price point for the apartments is Rs 70 lakh and above. With a runaway success in the first phase of the project, targeted [...]
Continue reading...DLF to restart Kolkata SEZ project
8. June 2010
The government today gave the nod for the country’s largest real estate developer, DLF, to revive its plan for a special economic zone (SEZ) in Kolkata. “The Board of Approval has allowed re-notification of DLF’s SEZ in Kolkata,” Commerce Ministry Additional Secretary D K Mittal told reporters here after a meeting of the Board of Approval, [...]
Continue reading...Realtors wait for new regime
7. June 2010
With the Left Front losing the mandate in the Kolkata Municipal Corporation (KMC) elections, city real estate developers are keenly awaiting Mamata Banerjee’s policies towards the development of city infrastructure. Interestingly, KMC for the last five-six years, had been earning money by selling land to developers in prime locations through the bidding process. According to sources, KMC [...]
Continue reading...DLF Plans to Renew its Kolkata SEZ
27. May 2010
With improvement in the real estate sector, the country’s largest developer DLF wants to revive its plan for a special economic zone in Kolkata. The company which surrendered four SEZ projects last June due to demand shrinkage for commercial space has approached the commerce ministry for reviving the Kolkata project, an official said on Wednesday. “The [...]
Continue reading...State to seek central help to chase Rajarhat dream
7. April 2010
Kolkata: The great Rajarhat dream may finally be a reality. Faced with accountability ahead of the 2011 assembly elections, the Buddhadeb Bhattacharjee government is desperately trying to get the Centre to pitch in so that all tall claims about “the showpiece township” could materialise. The state urban development department and the implementing agency for the township, [...]
Continue reading...Ambuja Realty plans Rs.1,065 crore investment
12. March 2010
Real estate company Ambuja Realty plans to invest Rs.1,065 crore over the next three to four years on commercial and residential complexes and business parks, the company’s chairman said here Thursday. “We have plans for three more business parks in Kolkata — two in Salt Lake Sector V and one in Rajarhat,” company chairman Harshavardhan Neotia said [...]
Continue reading...Ambuja Realty to set up three IT parks in Kolkata
12. March 2010
Kolkata-based Ambuja Realty plans to invest over Rs 300 crore to set up three business parks in the city. While two such parks will come up in the city’s IT hub-Salt Lake Sector V-Ambuja has plans to set up the third one in Rajarhat in the eastern fringes of Kolkata. Plans are also afoot to set [...]
Continue reading...City to get five new Metro routes
25. February 2010
Kolkata: Five new spans of the Metro Railway network in Kolkata have been included in the railway budget of 2010-11. This will come as a relief to many who were wondering if Mamata Banerjee would succeed in getting the projects cleared at a time when the Centre is not too keen on the railways getting [...]
Continue reading...Real Estate Developers Reviving Big-Ticket Projects in Kolkata
9. February 2010
Real estate developers are reviving big-ticket projects in Kolkata after securing a commitment from the West Bengal government that “some kind of incentive” would be offered to help them emerge from the downturn. The projects had been halted for at least 18 months. States such as Maharashtra, Gujarat and Uttar Pradesh have already announced incentives [...]
Continue reading...Rush to fix indicators for area-based taxation
3. February 2010
Kolkata: Property tax determination is poised for a change. Talks are on to put an end to the inspector raj and switch over to a more transparent procedure — envisaging areabased taxation — wherein the owner can calculate property tax on his/her own. The process is simple. The idea is to divide Kolkata into seven zones [...]
Continue reading...Unity Infra to Develop Housing Projects in Kolkata and Bangalore
25. January 2010
Construction firm Unity Infra projects today said it will develop two mixed-use housing projects aimed at middle-to-high income segments in Kolkata and Bangalore with an investment of around Rs 500 crore. “We have already acquired 37 acres of land in these two cities. Work on the projects will kick off next quarter,” company Chief Operating [...]
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21. August 2010
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