State govt to auction 17 acres New Town land for commercial project
Kolkata: The state government is planning to auction about 17 acres of land on a freehold basis in New Town, Rajarhat for the purposes of a commercial project.
Sources said the West Bengal Infrastructure Development Finance Corporation (WBIDFC) is inviting bids from corporate bodies for the e-auction of 17.278 acres of land situated at premises No.11, Major Arterial Road (MAR) in Action Area-I, New Town, Rajarhat. The e-auction is scheduled to be held on March 17. The starting bid price has been fixed at Rs 821 crore.
As per the conditions set, the floor area ratio (FAR), ground coverage relating to the construction of project building in that land parcel will be as per existing Building Rules of New Town Kolkata Development Authority (NKDA). Possession of land to the successful bidder after the e-auction process will be handed over within 30 days on receipt of full payment. The construction period is five years from the possession date.
Some of the key features of the land parcel includes its distance from the Kolkata airport which is 11 km. It is at a strategic location adjacent to the main road in the northeastern part of Kolkata. Further, the property is situated adjacent to New Town Central Bus Stand. Some of the landmarks are the Axis Mall and hotels, such as Novotel and PRIDE. The Metro Rail, when completed, will have a station in very close proximity to the subject property, sources said.
An official said such commercial projects will further boost the economic development of this area. New Town has already attracted investments from leading players such as TCS, WIPRO, DLF, Ambuja, Bengal Unitech etc. Over the next two to three years, the area is expected to be one of the most sought-after investment regions in the proximity of Kolkata.
A Millennium Post news article published on March 3 had reported that the state government is also planning to auction and allot 5.97 acres of land on freehold basis in New Town’s Action Area III for the purposes of setting up an educational institution.
