IHCL is investing up to INR 5 crore in the redevelopment of Chotelal Ki Ghat in Kolkata, a historic site along the Hooghly River built in the 1870s. Supported by INTACH, the project focuses on restoration, conservation, landscaping, and beautification, in line with the Namami Gange Programme and Swachhata initiatives. Executives from IHCL and Syama Prasad Mookerjee Port emphasized enhancing the ghat's cultural significance and community engagement. The collaboration is part of a larger effort to revive heritage sites through private-public partnerships, aiming to make Chotelal Ki Ghat a prominent cultural and tourist destination.Read more

Amazon finalised a built-to-suit lease agreement for a 600,000 sq ft warehousing facility at Kolkata's Oswal Logistics Park, signalling its continued push into India's supply chain network. The structure will feature a 400,000 sq ft plinth area and a 200,000 sq ft mezzanine space, with a handover anticipated between 2027 and 2028. Positioned among the premium rental deals in the city, the facility is set to incorporate advanced automation and fulfilment systems. This move reinforces Amazon's long-term ambition to bolster last-mile delivery across Tier-1 and Tier-2 urban centres.Read more

Apeejay Surrendra Park Hotels is set to claim 55 per cent of revenues from its upcoming luxury hotel and serviced-apartment development along Kolkata's EM Bypass. The 3.5-acre project, in partnership with Ambuja Neotia Group, will house a 250-key five-star hotel and 100 serviced residences. With most approvals in hand and municipal clearance expected soon, construction is slated to begin shortly. Residential units will launch around Diwali. The ambitious venture promises strong margins without additional capital and is expected to generate INR 600 crore in total revenues over three years.Read more

The Syama Prasad Mookerjee Port in Kolkata is implementing measures to cut vessel turnaround time from five to four days within a year. Chairman Rathendra Raman announced upgrades including eight mobile harbour cranes, floating cranes at Sagar Island, and night navigation to improve efficiency. Dredging is underway to boost draft levels, while new lock gates will ease congestion at Kolkata and Haldia ports. Capacity is set to rise from 87.5 million tonnes by an additional 30 million. Warehousing projects under the Sagarmala framework, along with the upcoming Balagarh facility, aim to enhance cargo handling, reduce delays, and strengthen the region's maritime connectivity.Read more

The Kolkata Municipal Corporation has renewed its crackdown on structurally unsafe buildings, revealing that 10% of nearly 3,000 flagged structures are in a critical state. Mostly over a century old and built with lime and mortar, these buildings have weakened further due to harsh monsoon cycles. High-risk areas include Burrabazar, Cossipore, Burtolla, and parts of central Kolkata. Following a recent fatal collapse in Bowbazar, officials have reactivated demolition and repair orders. Urgent notices are being served to landlords and residents in severely damaged buildings across streets like Ripon Street and Lenin Sarani. Civic engineers have been tasked with re-inspections and immediate safety action.Read more

The Kolkata Municipal Corporation (KMC) has initiated stricter monitoring of construction material dumping on city roadsides to combat waterlogging. Developers of under-construction buildings are now required to store materials immediately on the ground floor once built, facing stop-work notices for non-compliance. This directive follows complaints of inundation caused by debris, which is often illegally dumped in drains and vacant plots. The move aligns with existing rules mandating proper waste disposal and comes as a similar redressal system for construction and demolition waste is being developed in New Town to enhance urban cleanliness and prevent blockages.Read more

Syama Prasad Mookerjee Port, Kolkata (SMPK), has entered into a Memorandum of Understanding with PS Group Realty for the redevelopment and beautification of Nimtalla Immersion Ghat. This partnership, part of PS Group's corporate social responsibility efforts, is aimed at enhancing the ghat's cultural, spiritual, and community value. SMPK will assist with utilities and necessary clearances during the redevelopment, and will take on maintenance responsibilities once the work is completed. The initiative mirrors a recent agreement with the Adani Group for Kumartoli Ghat, reflecting growing public-private interest in revitalising Kolkata's historic riverfronts.Read more

Kolkata's office leasing volume reached 11 lakh sq ft from January to July 2025, marking a 60% year-on-year increase and the highest half-yearly transaction volume in a decade. This surge was driven by large IT outsourcing and flexible workspace deals. Office vacancy rates dropped to 33.5%. However, the residential market saw an 11% sales decline and 29% drop in new launches. Despite this, unsold residential inventory decreased by 12%, showing a healthier market balance, indicating a strong commercial segment contrasting with a paused residential sector.Read more

IHG Hotels & Resorts, in partnership with Samhi Hotels, has launched its second Holiday Inn Express in Kolkata with a 113-room property developed for INR 40 crore. This brings the total number of Holiday Inn Express hotels in India to 18, with Samhi owning 12. IHG now operates 52 hotels across six brands in India and foresees potential for up to 20 Holiday Inn Express locations in Kolkata alone. The group is eyeing expansion into West Bengal's emerging destinations. Samhi, operating 32 hotels nationwide, views eastern India as a growth hotspot. Meanwhile, 84 IHG-affiliated hotels are currently under development across India.Read more

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