Global investment firm Blackstone has made a major foray into eastern India's retail sector by acquiring South City Mall in Kolkata for INR 3,250 crore. The one million sq ft mall, known for its high footfall and annual turnover exceeding INR 1,800 crore, has been described as an iconic destination for shopping and leisure. Real estate consultancy Anarock served as the exclusive transaction advisor in the deal. Blackstone plans to leverage its retail expertise to enhance the mall's long-term performance.Read more

Coal India Ltd has partnered with Syama Prasad Mookerjee Port, Kolkata, to transform the iconic Howrah Bridge through a solar-powered dynamic illumination initiative. The project, aimed at showcasing the structural grandeur of the 80-year-old bridge, will feature volumetric and skeleton lighting synchronised with music. Officials confirmed that the upgraded lighting would vastly improve the existing setup and enrich the nightly experience for lakhs of commuters and visitors. The tendering process is currently underway, with the project expected to be completed within a year.Read more

Incture, a prominent provider of AI and digital solutions for SAP clients, has inaugurated its latest facility the Trinoyon Digital Product & Technology Center, in Kolkata. Marking its sixth centre in India and second in Eastern India, this strategic expansion underlines Incture's ambitions to scale innovation and regional growth. The new hub, situated in Sector 5, Salt Lake, is expected to house over 300 employees within three years and will play a crucial role in the development of the AI-powered Cherrywork suite. The centre also aims to serve enterprise customers globally as an SAP implementation hub.Read more

The Nabadiganta Industrial Township Authority (NDITA) has announced a comprehensive fire safety audit of around 250 office buildings in Kolkata's Sector V, following recent fire incidents and safety violations. Sector V, home to over 1,500 companies and nearly two lakh employees, has seen rising concerns over fire preparedness. Nine rooftop restaurants were recently served stop-operation notices for major compliance lapses. The audit will assess fire systems, road access, and evacuation routes, with a focus on removing encroachments and improving fire tender mobility. To ease roadside parking, NDITA will build a second multi-storey parking plaza near Philips More, accommodating over 700 vehicles by next year.Read more

Kolkata’s housing market is undergoing a shift, with unsold affordable homes (below INR 40 lakh) falling by 20% between 2024 and 2025, while unsold luxury units (above INR 1.5 crore) surged by 96%, The Times of India reports. Anarock data shows 37% of 66,260 new units launched since 2021 were in the affordable segment, underscoring strong demand despite fewer new launches post-pandemic. Meanwhile, slower absorption in the luxury market may push developers to recalibrate project portfolios. As Kolkata’s real estate evolves, buyers can expect greater choice and potentially competitive pricing across both affordable and premium housing segments.Read more

The New Town Kolkata Development Authority (NKDA) has initiated action against residential buildings in New Town being used for unauthorized commercial purposes. Following numerous complaints from residents about disturbances caused by such activities, NKDA plans to issue notices to property owners violating building regulations. As per existing rules, only 40% of a residential building's floor area can be used for commercial purposes, subject to obtaining the necessary permissions and paying applicable fees. Violators may face penalties as per the building rules.Read more

West Bengal Chief Minister Smt Mamata Banerjee has inaugurated Kolkata's longest skywalk, a INR 77 crore project connecting Kalighat Temple to Shyama Prasad Mukherjee Road. Spanning 400 metres, the skywalk is designed to serve up to 60,000 pedestrians daily, reducing congestion near the iconic temple. Built by the Kolkata Municipal Corporation, the structure includes 12 escalators, 4 staircases, and 2 lifts, along with CCTV and firefighting systems. Despite early legal and political hurdles, the project was completed after a two-year delay. Officials now see the skywalk as a model for future projects in high-footfall areas balancing heritage preservation with infrastructure upgrades.Read more

The Kolkata Municipal Corporation (KMC) has mandated that all under-construction buildings display boards with sanctioned plan numbers, architect/LBS names, and building heights. This move aims to protect prospective flat-buyers from promoter violations. Borough engineers are instructed to identify non-compliant sites and issue stop-work notices. Surveys will ensure board visibility, following directives from the mayor's office. Officials say such boards will boost buyer confidence. KMC engineers are also urged to coordinate with local police to ensure safe enforcement. Senior officials will monitor compliance through reports from borough engineers to ensure prompt action against unauthorized or hidden constructions across the city.Read more

The Kolkata Municipal Corporation (KMC) buildings department sanctioned four building plans for small plots ranging from 450 to 1,500 square feet in Garia and nearby areas off EM Bypass earlier this week. Prior to this, two small plots in the Kasba-Garfa belt and Patuli had also received approval. In an effort to curb unauthorised constructions, KMC has introduced amendments to existing building regulations, encouraging small plot owners to submit plans for approval. The relaxations will be applicable to plots between 350 and 2,100 square feet, provided the owners engage an architect or structural engineer for compliance. The initiative, which includes colony and thika land, may be expanded based on public response.Read more

The Asian Development Bank (ADB) has approved a USD 200 million loan for the Kolkata Municipal Corporation Sustainability, Hygiene, and Resilience Project to modernize sewerage and drainage infrastructure in the city. The project aims to address urban flooding, outdated drainage systems, and climate resilience by constructing 84 km of trunk and secondary pipelines, 176 km of lateral pipelines, one sewage treatment plant, and five pumping stations. Over 277,000 residents will benefit, particularly in vulnerable communities. This initiative aligns with broader climate-resilience efforts, including World Bank-funded flood mitigation in Mumbai and a EUR 100 million AFD-backed stormwater drainage upgrade in Chennai. As Indian cities increasingly seek international funding for climate adaptation, Kolkata's project could serve as a model for urban infrastructure resilience across South Asia.Read more

The Kolkata Municipal Corporation (KMC) has demolished 150 unauthorized buildings over the past year and issued 5,000 stop-work notices to developers violating building norms. Additionally, 500 FIRs have been filed against those continuing construction despite warnings. The crackdown, targeting high-risk areas like Rajarhat, Garia, and Behala, aims to improve urban safety and prevent structural failures. Opposition leaders have raised concerns over homebuyers unknowingly purchasing illegal flats, calling for stricter approval processes. With demand for RERA-compliant housing up 30%, KMC plans to introduce an online portal for property verification, ensuring safer, legally approved real estate development in Kolkata.Read more

The Bengal Silicon Valley IT Hub in New Town, originally a 100-acre project, has doubled to 200 acres due to high demand from IT firms. 38 companies have received Letters of Intent, with nine already under construction. Major investors include Reliance, Airtel Nxtra, ST Telemedia, and NTT, alongside Infosys, which secured 50 acres. The project aims to generate 75,000 jobs, strengthening Kolkata's IT sector. With 91.8% occupancy across Bengal's 22 IT parks, the state is boosting infrastructure and connectivity to support continued growth, solidifying its position as an emerging tech hub.Read more

The Kamarhati Municipality has ordered the demolition of 57 unauthorized buildings in Belgharia-Kamarhati after safety inspections revealed structural risks. FIRs have been filed against 17 builders for violating construction laws, while authorities identified multiple tilting buildings in areas like Sasthitala, MacKenzie Road, and Ariadaha. The crackdown follows the near-collapse of a structure in Baghajatin, raising public safety concerns. Residents demand rehabilitation, criticizing officials for inaction against promoters. The municipality is exploring resettlement options, but enforcement measures are expected to tighten to prevent future illegal constructions in the area.Read more

The Kolkata Municipal Corporation (KMC) has approved a rare building plan for a 410 sq ft plot, relaxing its usual minimum requirement of 720 sq ft. This decision, made during a mayor-in-council meeting, aims to prevent unauthorised construction on small plots. The move follows an appeal from a landowner on Middle Road, with similar cases pending across multiple wards. To regulate small-plot construction, the KMC is considering a broader policy change, initially covering colony and thika land. The proposed amendment will allow construction on plots between 350 sq ft and 2,100 sq ft, provided owners hire professionals and adhere to safety norms.Read more

The Kolkata Municipal Corporation (KMC) is working on a proposal to help owners of small plots by easing building regulations. The aim is to encourage legal construction and prevent illegal buildings, many of which have raised safety concerns. Under the new plan, owners of plots between 350 sq ft and 2,100 sq ft will be able to construct homes without a sanctioned plan, provided they submit a detailed design from an architect or engineer. The initiative is targeted at certain areas initially and may expand depending on public response.Read more

Kolkata's urban development department has issued new guidelines to address the issue of tilting buildings in areas like Salt Lake and New Town. Building owners must submit detailed proposals, including soil test reports and lifting mechanisms, to their local civic body for review. Structural engineers and licensed agencies will oversee the process to ensure safety compliance. The guidelines emphasize soil stability assessments and professional supervision to mitigate risks. Residents are encouraged to report signs of tilting to local authorities promptly. These measures aim to enhance urban safety, protect structural integrity, and create a safer living environment in Kolkata.Read more

The New Town Kolkata Development Authority (NKDA) has initiated property tax collection and mutation camps at residential complexes, aiming to boost compliance and revenue before the financial year ends in March. These on-site camps offer a hassle-free way for residents to update property records and pay taxes without visiting government offices. NKDA officials are providing guidance on documentation and tax processes, encouraging apartment owners to participate. With a growing population, the initiative aims to streamline tax collection, ensure accurate property records, and support the sustainable development of New Town.Read more