Tag: Kolkata

Latest StoriesRegulatory

ED Raids Seven Properties Linked to Kolkata’s Merlin Group

KOLKATA | NEW DELHI: The Enforcement Directorate (ED) conducted searches at the premises of Kolkata-based real estate firm Merlin Group and its promoters on Wednesday as part of a money laundering inquiry, officials confirmed. Approximately seven locations connected to the company and its promoters, Sushil Mohta and Saket Mohta, were raided under the Prevention of Money Laundering Act (PMLA). A response from Merlin Group regarding the searches is still pending. The promoters and the company are under scrutiny by the federal agency for allegedly fabricating a “false” chain of title with “forged” documents, which has raised land grabbing allegations. This…

Latest StoriesRegulatory

New Town Kolkata Issues Notices to 65+ Buildings

Representative AI image KOLKATA: In response to complaints about significant irregularities in the use of residential buildings for commercial activities without proper authorization, the New Town Kolkata Development Authority (NKDA) has issued stop-operation notices to 69 buildings following inspections in New Town last year. The authority is conducting a block-wise evaluation of nearly 1,000 buildings that were flagged for potentially violating the allowed 40% commercial use within residential structures. According to officials, around 1,200 buildings were identified as part of investigations into suspected violations that emerged from surveys conducted in late 2024. “Initial visits led to a reduction in the…

IndustryLatest Stories

DLF Sells IT-SEZ and Land in Kolkata for ₹710 Crore

Representative Image NEW DELHI: DLF, a leading real estate developer, has finalized a deal to sell its IT-ITeS special economic zone (SEZ) project along with nearly 18 acres of undeveloped land in Kolkata for Rs 710 crore to the Srijan Group, as part of its asset monetization strategy. The announcement came in April last year. In a regulatory update on Monday, DLF reported that the transfer of its IT/ITeS SEZ assets, including ‘DLF TechPark II’, has been completed to Makalu Builders LLP, which is associated with Srijan Group and Srijan Realty Pvt Ltd. Additionally, the company has sold a 17.75-acre…

Latest StoriesResidential

Kolkata Home Registrations Fall 1% YoY to 4,974 in Feb 2026

Sure! Here’s a rewritten version of the content: KOLKATA: In February, the Kolkata Metropolitan Area (KMA) saw a significant increase in residential property registrations, reaching 4,974—a 63% rise from the previous month. This uptick is attributed to a recovery from the seasonal dip observed in January, according to property consultant Knight Frank India. Compared to February 2025, this year’s registrations saw a slight decline of 1%, with 5,016 units recorded last year. The data originates from the Directorate of Registrations and Stamps Revenue, Government of West Bengal, and accounts for transactions in both the primary (new sales) and secondary (resale)…

Latest StoriesRegulatory

Calcutta HC Cancels Builder’s Bail, Rejects ‘Sinful’ Protection

KOLKATA: The Calcutta High Court has revoked the bail granted to a builder involved in a cheating case by a lower court, stating that the liberty of an accused cannot be safeguarded by an order “born in sin”. Justice Uday Kumar noted that a bail order that is unsigned or partially initialed, lacks a rationale addressing the victim’s specific objections, and disregards witness intimidation history, constitutes a perverse ruling that the high court must annul. “This case showcases a troubling scenario where the liberty of the accused overshadowed the victim’s safety through an order that fails the fundamental requirements of…

InfrastructureLatest Stories

West Bengal Plans Reuse of Treated Wastewater in Housing

Representative AI image KOLKATA: The Urban Development and Municipal Affairs Department of West Bengal has drafted a new state policy aimed at the safe reuse of treated wastewater. This initiative is designed to encourage sustainable practices in the reuse of treated water. The draft outlines that new residential housing projects, which have received environmental clearance, must incorporate systems for the maximum reuse of treated wastewater for non-potable purposes. This directive is particularly intended for multistoried buildings, gated communities, public institutions, commercial establishments, hotels, airports, and major railway stations. Stakeholders, experts, and organizations are invited to share their feedback on the…

IndustryLatest Stories

Godrej Properties Snags 11 Acres in Gurugram, 5 Acres in Kolkata

Representative AI image NEW DELHI: Godrej Properties (GPL) has secured 11.36 acres of land in Sector 63A, Gurugram, for residential development via an outright purchase. This venture is projected to generate an estimated revenue of over ₹4,500 crore, featuring a combination of premium low-rise and high-rise residences. Gaurav Pandey, Managing Director & CEO, stated, “With this new project, we have successfully added over ₹40,000 crore in future sales potential through portfolio expansions in FY26, achieving twice our business development target for the fiscal year.” In a separate initiative, the company also won a bid in an e-auction conducted by the…

IndustryLatest Stories

Eden Realty Group to invest ₹5,000 crore in projects by 2030

KOLKATA: Eden Realty Group announced on Tuesday a substantial investment of ₹5,000 crore aimed at developing residential, commercial, and hospitality projects along both banks of the Hooghly River by 2030. The initiative includes a premium riverside residential complex in Howrah’s Shalimar, as well as five luxury hotels offering a total of 600 rooms in Kolkata, Howrah, and South 24 Parganas, as disclosed by Eden Realty MD Arya Sumant. “For the first time, we are venturing into the hospitality sector with plans to establish five luxury hotels on land leased from SMPK (Kolkata Port). We’ve engaged with various Indian and international…

IndustryLatest Stories

Shriram Properties Settles Kolkata Land Issues with WB Gov.

NEW DELHI: Shriram Properties (SPL), via its subsidiary Bengal Shriram Hitech City (BSHCPL), has successfully resolved a long-standing commercial dispute with the West Bengal government. The agreement includes the transfer of 42.37 acres of land in Uttarpara, West Bengal. “With the execution and conveyance of the land, BSHCPL is fully discharged of its obligations in this matter,” stated the company. The land parcel in Kolkata covers 314 acres, with 48 acres currently utilized for ongoing projects totaling approximately five million sq ft of development. SPL aims to initiate new projects over the next five years, encompassing five to six million…

IndustryLatest Stories

DLF Sells IT SEZ Land in Kolkata to Srijan for ₹670 Crore

Representative AI image NEW DELHI: DLF has signed definitive agreements to sell its IT/ITeS SEZ asset and an adjacent land parcel in Kolkata to Makalu Builders LLP and Gangapurna Projects LLP, subsidiaries of Srijan Realty, for a total of approximately ₹670 crore. As per a business transfer agreement (BTA) executed on February 3, 2026, DLF will transfer its IT/ITeS SEZ operations, including DLF TechPark II and around 8.15 acres of freehold land in Kolkata, to Makalu Builders LLP for ₹409.86 crore. The asset has a gross leasable area of about 10.54 lakh sq ft. Additionally, DLF has signed an agreement…