Tag: Kolkata

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…

CommercialLatest Stories

Hidco to Auction Two Commercial Plots in New Town, Kolkata

Representative image KOLKATA: Hidco is set to conduct an e-auction for two commercial plots in the CBD area of New Town—one spanning 10 acres and the other 3.9 acres—on a freehold basis, scheduled for next month. The starting bid for the 3.9-acre plot is set at Rs 138.9 crore, while the 10-acre plot has a starting bid of Rs 353.3 crore. Authorities are currently inviting bids from qualified corporate entities. Officials have stated that changes in the intended use of the plots will not be permitted, and construction must commence within one year of land possession. Published On Jan 19,…

Latest StoriesResidential

Kolkata: E-Auction of 10 New Town Residential Plots

Representative AI image KOLKATA: The state government has designated additional land in New Town for residential housing projects. The West Bengal Housing Infrastructure Development Corporation plans to e-auction 10 large plots, approximately 4.7 acres in total, on a freehold basis for residential purposes. Officials indicated that the plots up for auction vary in size from 1,500 sq m to 2,000 sq m and are located in Action Area II. The auction is set to take place next month. The authorities are calling for bids from eligible corporate bodies registered under the Companies Act, as well as registered trusts or societies.…

InfrastructureLatest Stories

Kolkata Civic Body Launches Drive to Demolish Unsafe Buildings

KOLKATA: In response to the Shamsul Huda Road building collapse, the Kolkata Municipal Corporation (KMC) is initiating a comprehensive campaign to demolish unsafe and decrepit buildings throughout the city. The KMC Buildings Department plans to use specific powers to demolish structures posing risks to both residents and pedestrians. An official from the KMC Buildings Department disclosed that assistance will be sought through an express order—authorized under section 411(4) of the KMC Buildings Rule—allowing the civic body to dismantle unsecured portions of dilapidated structures deemed irreparable. A prior survey identified buildings vulnerable to collapse, particularly during heavy rainfall. “We have identified…

Latest StoriesRegulatory

ED Files Charge Sheet in ₹145-Crore Sand Mining Case

KOLKATA: On Saturday, the Enforcement Directorate (ED) filed a charge sheet at the special CBI court regarding illegal sand mining in Bengal, estimating the financial irregularities at nearly Rs 145 crore. The charge sheet identifies 14 companies and four individuals, including businessman Arun Saraf and three employees. Another businessman, Anuran Kumar Senapati, previously questioned by the ED, has been designated as a witness. “My client fully cooperated with the investigating agency,” stated Senapati’s lawyer, Sanjib Dan. The ED’s investigation uncovered that illegal sand mining and sales had been ongoing for an extended period under various companies. They allege that Saraf…

Latest StoriesRegulatory

Common Area Changes Require Two-Thirds Resident Approval: WBREAT

KOLKATA: The West Bengal Real Estate Appellate Tribunal (WBREAT) has sided with homebuyers at ‘Atmosphere – the luxurious condominium’ located off EM Bypass. On Friday, the tribunal upheld RERA’s interim order preventing developers from ‘alienating, transferring, or dealing’ with any portion of the project or its common areas. Previously, 10 residents of the development accused the promoter of unilaterally altering plans without the required consent from 2/3 of the existing allottees. On February 25, 2025, the High Court allowed construction to continue based on the modified plans, contingent upon the results of arbitration proceedings brought by some allottees. In its…

Latest StoriesRegulatory

Calcutta HC: KMC Can Fix Unsafe Buildings in Disputes

KOLKATA: The Calcutta High Court ruled on Dec 23 that civil disputes would not hinder the renovation of a building designated as ‘dilapidated’ or ‘unsafe’ by the KMC. The court stated, “The residents, including tenants and nearby individuals, could face substantial risk if the Corporation’s order is not executed.” The challenge arose from the trial court’s decision to lift an interim order in a civil suit regarding a 1/6th property share, brought before the division bench of Justices Sabyasachi Bhattacharyya and Supratim Bhattacharya, which also contested transfer deeds issued by the building owners. After the lower court issued the interim…

IndustryLatest Stories

Ambuja Neotia to Revive Usshar Project in Batanagar, Kolkata

NEW DELHI: Ambuja Housing & Urban Infrastructure Company (AHUICL), a subsidiary of Ambuja Neotia Group, has secured approval from the National Company Law Tribunal (NCLT) to acquire the Usshar Project in Batanagar as part of a parcel-wise resolution for the corporate debtor Riverbank Developers. According to the resolution plan endorsed by a division bench of NCLT, Kolkata, under the Insolvency and Bankruptcy Code (IBC), AHUICL will assume control of the asset parcel comprising the Usshar residential project, which spans approximately 9.4 acres. As outlined in the approved plan, the company will make an upfront payment of ₹34 crore, with the…

Latest StoriesRera

West Bengal REAT: GST Refund for Cancelled Flat Deals

KOLKATA: The West Bengal Real Estate Appellate Tribunal has ruled that a home buyer cannot reclaim GST from a developer after a property purchase deal has been terminated. Refund requests must be made directly to the GST authority. In this case, Malabika Bhoumic agreed to purchase a flat at Project ONE-10 on May 25, 2022, and made a partial payment of Rs 9,17,919 towards the total cost of Rs 88,26,140 for the 665 sq ft flat on the 15th floor. The agreement was terminated by the promoter, PS Group Realty Pvt Ltd, on June 16, 2023, due to non-payment of…