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Ambuja Realty plans Rs.1,065 crore investment
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 [...]
Continue reading...In Kolkata, property prices see the fastest rise, move 16.8% up
11. January 2010
Fewer speculative deals and lower base prices saw Kolkata outpace property markets such as Mumbai, Delhi Property values in Kolkata have risen at the fastest pace among Indian metros since 2007, according to the National Housing Bank’s (NHB) Residex—an index of property prices. Property values in Kolkata rose by an average of 16.8% while those in Bangalore [...]
Continue reading...Assocham to Submit Study on Land Acquisition Policy to WB Govt
9. January 2010
en as it retained its optimism on West Bengal as an attractive investment destination, apex industry association Associated Chambers of Commerce and Industry of India (Assocham) said that it would shortly place before the West Bengal Government, a comparative study on land acquisition policy and status in other States while also outlining a futuristic industrial [...]
Continue reading...Tech investors can sell part of land to realtors
3. January 2010
Starting with Wipro, chief minister Buddhadeb Bhattacharjee will offer a unique sop to companies investing in his favourite IT sector. They will be allowed to sell or lease out part of the allotted land for real estate activity at the prevalent market rate. Bureaucrats who have conceptualised the clause hope this would entice IT majors, particularly [...]
Continue reading...Another DLF project runs into rough weather
22. November 2009
First, DLF’s ambitious township project in Dankuni — 20 km to the west of Kolkata — was put in the backburner. The DLF Hilton hotel project along EM Bypass followed suit. Now, the group’s biggest commercial project in the region at New Town has run into rough weather. Of the 223 customers who had booked [...]
Continue reading...Kolkata Govt Holding Plots to Get Better Prices
6. November 2009
The economy might be on the recovery path, but state government agencies, such as KMDA or Hidco, are still going slow in auctioning or selling plots to developers for commercial and residential real-estate projects. The agencies are waiting for the economy to improve further so that they can get the most out of it by [...]
Continue reading...Reliance Retail plans expansion in West Bengal
11. October 2009
Reliance Retail Limited that runs around 590 stores across 57 cities in India is planning to expand its business in the country especially in West Bengal. “We are currently working on how best we can come back to the state in a major way. It’s all currently on the drawing board,” Mr. Tarun Jhunjhunwala, President, [...]
Continue reading...Milestone fund invests Rs110 cr in realty project
6. October 2009
The investment in the Kolkata project is from the second scheme of the realty fund, Milestone Domestic Scheme II, with a total corpus of Rs593.7 crore Milestone Group on Monday said it has invested Rs110 crore in a residential project in Kolkata from its realty fund—Milestone Real Estate Fund. The project, which is jointly developed by [...]
Continue reading...Land use map: State to spare multi-crop plots
24. September 2009
Learning it the hard way from Singur, Nandigram and Bhangar, the Buddhadeb Bhattacharjee government has decided to discourage industries on multi-crop lands from now on. Relaxations can be made for institutions like hospitals and colleges, but there the government has to arrange for compensatory land and develop it as multi-crop land with irrigation facilities. Land and [...]
Continue reading...Now, highrises in Salt Lake too?
22. September 2009
Lake should expand vertically. The ruling party has long harboured this opinion and now, the state government, too, has come round to this view. The state urban development department has decided to form a committee to deliberate on this and assess the infrastructure upgrade required for it. Currently only two- to four-storey buildings are allowed on [...]
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12. March 2010
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