West Bengal to Unlock 20 Acres in New Town for Residential and Commercial Projects

West Bengal government is set to release approximately 20 acres of prime land in New Town, Kolkata, for residential, commercial, and mixed-use development. This strategic move aims to boost infrastructure growth and attract investment in one of the fastest-developing urban zones in the state.

Land Allotment Through E-Auction in Action Area II and III

According to officials, the land parcels—equivalent to nearly 20 football fields—will be offered on a freehold basis through an e-auction process next month, managed by HIDCO (Housing Infrastructure Development Corporation).

The proposed allotment includes:

1. Two plots of 4.1 acres each in Action Area II

2. Three plots measuring 7.3 acres, 3.2 acres, and 0.6 acres in Action Area III

The base price for the largest plot (7.3 acres) has been set at ?292.2 crore, while the smallest plot (0.6 acre) starts at ?26 crore.

Focus Shifts to New Town’s Future Growth Corridors

With major parts of Action Area I and sections of Action Area II already developed, the government is now prioritizing the remaining zones in Action Area II and III. New Town is part of a master-planned development designed to accommodate a population of 10 lakh (1 million).

The current market rate for mixed-use plots in the Rajarhat-New Town area ranges between 30 crore to 40 crore per acre, influenced by location and accessibility to arterial roads.

New Town: A Rising Urban Hub in Eastern India

Spanning around 7,598 acres, New Town is situated on the northeastern fringes of Kolkata, just 10 km from the central business district. Its strategic proximity to Salt Lake and Netaji Subhas Chandra Bose International Airport adds to its growing appeal among developers and residents alike.

So far, over 12,000 residential units have been built in New Town, with another 16,000 units under development. The township is projected to accommodate around 2 lakh residential units, fulfilling the growing demand for modern housing and commercial infrastructure in the region.

By LNN (Liyaans News Network)