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A four-storey illegal residential building, Subho Apartment, in Baghajatin Vidyasagar Colony, South Kolkata, collapsed onto a neighbouring one-storey house earlier this week while being lifted to correct its tilt. The building had started tilting four years ago due to soil and foundation failure, and efforts to realign it using hydraulic pressure caused it to collapse. Fortunately, no one was inside when the building fell as all residents had evacuated the previous month. An investigation revealed that the building had been constructed without proper approval, and an FIR was filed against the building owners and the company involved in the lifting work. The incident left at least six families homeless.Read more
A state-owned BSNL property spanning 780 cottahs in Kolkata is set to become one of the city's largest real estate transactions, valued at INR 1,900 crore. Located at a prime intersection near AJC Bose Road, the site includes a heritage building and offers potential for mixed-use development. While the National Land Monetization Corporation (NLMC) has initiated the sale process, industry experts foresee challenges such as Army permissions, height restrictions, and limited demand for luxury apartments. Nonetheless, this development is viewed as a significant opportunity to unlock underutilised land in the heart of the city.Read more
The government has initiated the process to monetise Bharat Sanchar Nigam Limited's (BSNL) heritage telecom factory in Kolkata, marking the third attempt to monetise the organisation's properties. Located opposite the Kolkata Race Course, the freehold property includes a heritage building constructed in 1947, with a total area of 52,178 square metres. While previous efforts to monetise BSNL properties in Barrackpore and Madhyamgram were unsuccessful due to a lack of bidders, the Alipore factory's unique heritage aspect is expected to attract interest. BSNL plans to shift the current operations to its larger Kharagpur unit.Read more
In response to rising complaints about incomplete housing projects, the Kolkata Municipal Corporation (KMC) has introduced stricter regulations to hold real estate developers accountable. Developers must now sign an undertaking to apply for an occupancy certificate (OC) post-construction. Mayor Firhad Hakim warned of penalties, including water supply disconnection, for non-compliance. Inspectors will verify project adherence within three days of completion, issuing certificates within 45 days if standards are met. This initiative aims to protect homebuyers from developers abandoning projects without proper certifications, a persistent issue in areas like Garden Reach and Tollygunge. The KMC's measures signal a robust push for transparency and buyer protection.Read more
Kolkata Metro authorities have proposed a 1.6 km extension of the Joka-Esplanade Purple Line to include a new station at Eden Gardens. Submitted to the Railway Board for approval, the extension will directly connect the stadium area to the metro network, benefiting cricket and football fans, commuters to Strand Road, Babughat, and BBD Bag. This addition replaces plans for a long subway, offering faster access and reducing congestion. With the metro currently serving 750,000 daily passengers, this project promises enhanced connectivity and environmental benefits, including preserving trees near Strand Road. Eden Gardens station is poised to become a vital transport hub.Read more
The New Kolkata Development Authority (NKDA) has identified over 1,000 residential buildings in New Town suspected of exceeding space limits or misusing areas for commercial activities without permission. Complaints from local residents, including noise disturbances from late-night events, have prompted the authorities to act. The NKDA plans to conduct surveys to compile a list of such buildings, followed by penalties for property owners. According to regulations, 40% of the floor area can be used commercially, but without proper clearance, property owners could face legal action.Read more
The Calcutta High Court ruled that tenants of private land acquired for the Joka-BBD Bag Metro corridor are entitled to compensation, even if landowners have already been paid. Justice Aniruddha Roy emphasized tenants' rights under Section 9 of the 1978 Act, which includes "any person interested in the land." The ruling stemmed from a land acquisition dispute near the Nepalese Consulate in Kolkata. The court upheld the acquisition, citing the public importance of the metro project while ensuring "just and appropriate compensation" for tenants. This decision reinforces tenant rights and highlights the complexities of balancing public infrastructure needs with legal entitlements.Read more
Infosys, India's second-largest IT services company, recently inaugurated a cutting-edge development centre in New Town, Kolkata. Built at a cost exceeding INR 426 crore, the 320,000 sq ft facility accommodates over 4,000 employees under a hybrid working model. The centre focuses on innovative technologies such as cloud, artificial intelligence, and digital transformation, serving sectors like logistics, manufacturing, and energy. Aligned with Infosys' ESG goals, the facility boasts green building features and flexible workspaces. West Bengal Chief Minister Mamata Banerjee highlighted its significance in boosting employment and IT growth, alongside other ambitious projects in the state.Read more
The Kolkata Metro, India's first urban rapid transit system, has been a cornerstone of urban mobility since its launch in 1984. Spanning 59.38 km across four operational lines, the system connects key areas of Kolkata and its suburbs, offering eco-friendly and time-efficient transportation. Landmark projects include the North-South Corridor (31.4 km) and the East-West Corridor (16.6 km), the latter featuring India's first underwater metro tunnel beneath the Hooghly River. With ongoing expansions like the Joka-Esplanade and New Garia-Airport corridors, the network aims to cover over 120 km.Read more
Rail Vikas Nigam Ltd (RVNL) has completed essential groundwork for the underground tunnels of the Orange Line Metro along VIP Road, extending over 72m. As the project moves into a critical phase near the airport, the agency has requested changes to the existing traffic block to allow for smoother traffic movement. A five-day traffic trial is expected soon, aiming to assess the impact of the adjustments. The final leg of the project, which involves a mix of elevated and underground sections, is being carried out in phases to avoid disruptions to VIP Road, a vital link between the city and the airport.Read more
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The National Green Tribunal (NGT) East Zone bench in Kolkata has issued notices to several state authorities regarding the alleged encroachment on 18 acres of the Luna riverbed at Badapal, Kendrapada district. The notices were prompted by a petition filed by local activist Alaya Samantaray, alleging that a Jharkhand-based company engaged in the National Highway-53 expansion project had carried out unauthorised construction on the riverbed. The petition highlights concerns over the threat posed to the river's ecosystem and its natural flow. The NGT has directed key officials to respond within four weeks.Read more
Kolkata's first metro link to the airport is nearing completion, with trial runs for the 7-kilometre Noapara-Jai Hind stretch starting in December 2024 and an official launch set for March 2025. Part of the Yellow Line's Phase I expansion, the link aims to ease traffic congestion and provide a seamless commute for air travelers. Multi-line connectivity will enhance access from both southern and northern Kolkata, reducing dependency on taxis and private vehicles. With key infrastructure like fire doors and travelators being finalized, the project aligns with global urban mobility trends, promising enhanced transportation, tourism, and economic growth for the city.Read more
RDB Primarc Techno Park LLP, an affiliate of the Primarc & RDB Group, has agreed to acquire the business operations of DLF Techpark 1 from DLF Infocity Developers for around INR 638 crore on a slump sale basis. The deal covers both the property and its related business services, including rental, property management, and fit-out. The IT park, located in Kolkata, spans 1.49 million square feet of leasable space. JLL facilitated the transaction, with Fox & Mandal advising RDB Primarc, while Shardul Amarchand Mangaldas & Co and PwC represented DLF.Read more
The Calcutta High Court granted an interim stay on the demolition of alleged illegal constructions in Mandarmoni, West Bengal, following a petition from the Mandarmoni Hoteliers' Association. The petitioners contested a demolition notice issued by the West Bengal Coastal Zone Management Authority (WBCZMA), arguing that the absence of a published Coastal Regulatory Zone (CRZ) made the demolition order legally invalid. Justice Amrita Sinha suspended the enforcement of the notice until December 13, pending further review. The court directed respondents to submit reports by December 4, with petitioners allowed to reply by the next hearing on December 10.Read more
The 14-kilometer Purple Line metro project in Kolkatta is expected to be completed by late 2028 or early 2029. The arrival of tunnel-boring machines (TBMs) is expected in December, with operations beginning by March 2025. The project received a boost with the Ministry of Defence's approval to relocate BC Roy Market for Esplanade station construction. A temporary structure for traders is being built, and work is ongoing for the Esplanade station. Additionally, 100% of trees affected by the project will be transplanted. Meanwhile, a two-day trial will test shifting services from Dum Dum to Noapara on the Blue Line.Read more
The Kolkata Municipal Corporation (KMC) has intensified efforts to reclaim encroached government land, recovering 150 bighas, including 121 bighas in Garden Reach. Targeted areas include EM Bypass zones such as Paschim Chowbagha, Nayabad mouza, and Nonadanga. To combat encroachment on East Kolkata Wetlands (EKW), KMC and the state land department are collaborating under a chief secretary-led committee. The Kolkata Metropolitan Development Authority (KMDA) has also demolished illegal constructions and lodged 45 FIRs. The reclaimed land will support urban planning, addressing the growing demand for housing and commercial facilities while ensuring sustainable development and deterring future encroachments.Read more
Godrej Properties Limited (GPL) has acquired a 53-acre land parcel in Joka, Kolkata, for a residential plotted development project with an estimated saleable area of 1.3 million sq. ft. and potential revenue of INR 500 crore. This follows GPL's recent acquisition of a 7.5-acre prime plot on Golf Course Road, Gurugram, projected to yield INR 5,500 crore. With robust financial growth-Q2 FY25 collections at INR 4,005 crore (68% YoY increase)-GPL is aggressively expanding across urban centres, including Pune, Noida, Bangalore, and Hyderabad. With six new projects and quality-focused developments, GPL cements its position as a leader in India's real estate sector.Read more
The Orange Line's Phase II extension, from Ruby to Sector V, has faced delays, with the revised deadline now set for March 2025. RVNL, the implementing agency, acknowledged that an 800m viaduct gap at Chingrighata and a 125m gap at Metropolitan have hindered progress. Despite these setbacks, the project has overcome significant land hurdles and received safety approval for the Ruby-Metropolitan section. The 29km line is expected to eventually connect New Garia to the city airport, but several gaps in the viaduct, caused by land issues, have prolonged the construction process.Read more
The Kolkata real estate market is experiencing a downturn in home sales registrations following the expiration of the stamp duty rebate, a government incentive that had temporarily boosted property transactions. The rebate, which reduced registration costs, spurred a surge in home purchases as buyers rushed to finalize deals before the benefit ended. However, with the rebate no longer available, the market has slowed, as higher registration costs deter potential buyers, leading many to delay or reconsider their purchases. This has resulted in reduced interest from prospective buyers, affecting developers and agents. While the rebate's end highlights ongoing challenges in the market, some experts remain optimistic that demand for housing will eventually stabilize, though price adjustments and market uncertainties are anticipated in the near term.Read more
Kolkata's housing market has seen a significant decline in home sale registrations, ending five months of growth. In July, registrations dropped by 18% from June and 13% year-over-year, with only 3,506 properties registered compared to 4,292 in June and 6,709 in July 2022. This downturn follows the withdrawal of state government incentives, including a 2% stamp duty reduction and a 10% cut in circle rates, which had previously bolstered the market. Mid-sized homes (501-1,000 sq. ft.) accounted for 47% of sales, while large apartments over 1,000 sq. ft. saw a sharp decline. CREDAI Bengal has urged the state to reconsider these policy changes to stimulate sales. Experts anticipate market adjustments, with potential recovery during the upcoming festive season.Read more
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