Salt Lake in Kolkata to get a facelift
January 14, 2017

As per the Nabadiganta Industrial Township Authority’s (NDITA) development plans, Salt Lake and the areas in its vicinity are set to receive an upgrade. NDITA official data reveals that about 1.5 lakh people commute every day for work to Sector V in Salt Lake. With a residential population of 400, the state's Information Technology (IT) hub needs to spruce up the civic infrastructure, including setting up a Town Hall-like building, a food court, and multilevel… Read More

Biogas buses to be launched soon in Kolkata
January 10, 2017

Kolkata is expected to be the first city in India to have buses running on biogas. As per various sources, 12 such 60-seater non-AC buses will start operating on 12 routes in the city, the first of which will be launched by the end of March 2017. Biogas is produced from animal, plant, and human waste. Principally consisting of methane, bio-gas is a colourless, non-toxic, and flammable gas that can be used as a fuel… Read More

Bidhannagar corporation brings 70,000 properties in its tax net
January 8, 2017

Bidhannagar Municipal Corporation (BMC) intends to bring about 70,000 properties in the corporation area in its tax net. These properties do not have any holding numbers and do not pay any tax even though they avail of all civic services. The decision is aimed at increasing the civic body’s revenue collection. BMC plans to charge a quarterly amount of Rs 250 as service tax from these property owners in order to bring them at par… Read More

Kolkata witnesses boom in warehousing demand
December 21, 2016

Over the last two years, the demand for warehousing space in Kolkata has witnessed tremendous growth. The consumption and manufacturing majors such as Manyavar, Stoppers Stop, Linc, Philips, etc. acquiring about 10 lakh sq ft of land for warehousing has contributed to this growth. The rentals in the segment have also grown from Rs 11-12 per sq ft last year to Rs 15 per sq ft in 2016. Samantak Das, Chief Economist and National Director… Read More

West Bengal toughens stance against air pollution
December 19, 2016

In an attempt to curb pollution in the state, the West Bengal Pollution Control Board (WBPCB) has made it mandatory for construction sites to be covered up. The Board has announced that all construction projects in the state must take conscious steps to control pollution. Residential construction, sewer lines, roads, and other infrastructure projects have also been included in the ambit of the new rule. Non-compliance may lead to penalties as well as cancellation of… Read More

New property tax regime applicable in Kolkata from April 2017
December 18, 2016

After years of deliberation, the Kolkata Municipal Corporation (Amendment) Act, 2016, has finally been passed which paves the way for the new tax regime to be implemented in the city. The new Unit Area Assessment (UAA) method will become applicable from April 2017 and over 6.5 lakh assesses under the Kolkata Municipal Corporation’s (KMC) jurisdiction will switch to the same. The new UAA method involves the division of the city into six categories, A to F,… Read More

New Town Kolkata Development Authority (NKDA) Amendment Bill, 2016, passed
December 12, 2016

Kolkata Assembly has approved the New Town Kolkata Development Authority (NKDA) Amendment Bill, 2016. The NKDA was supposed to collect property tax from New Town residents from 2013. However, the decision was postponed since the authorities wanted to introduce unit area-based property tax similar to Kolkata Municipal Corporation (KMC). To do the same, NKDA will form a committee to determine the base unit area values of vacant buildings/covered spaces of the building, plots etc. keeping… Read More

Korea to develop Kolkata’s New Town as a green city
December 5, 2016

The Housing Infrastructure Development Corporation (HIDCO) will soon be assisted by Koreans to develop Kolkata’s New Town as a green city. A Korean delegation recently visited Kolkata and met HIDCO officers. HIDCO signed a memorandum of understanding (MoU) with Handong Global University, South Korea to have knowledge-based exchange of ideas. The memorandum was signed in the presence of senior West Bengal government officials and bureaucrats from the Korean Embassy. As per the agreement between the… Read More

Kolkata civic body repair dilapidated houses
December 4, 2016

In the wake of rampant building collapses in Kolkata with recent being reported in Pathuriaghata, the Kolkata Municipal Corporation (KMC) has decided to take the matter in its own hands and carry out repairing work of the houses which are in poor conditions or have dilapidated. The move was suggested by Sovan Chatterjee, Mayor during the meeting with the officials of building department after being instructed by Mamta Banerjee, Chief Minister of the state to… Read More

Kolkata’s luxury realty to feel the heat of currency ban
November 12, 2016

Prime Minter Narendra Modi's strike against black money is expected to hit resale and luxury homes market in Kolkata. The annual value of cash deals in these two segments is pegged around Rs 250-300 crore.  The secondary market, which accounts for about 10 percent of the total real estate transactions in the city, is already in distress. The segment witnesses about 20-35 percent of transactions happening in cash. Experts anticipate that it will take some… Read More

West Bengal government takes steps to clean up realty sector
November 12, 2016

The West Bengal government is taking serious steps to make illegal properties on disputed land a thing of the past. The state government will soon make realtors across the state enroll with the West Bengal Real Estate Regulatory Authority (WBRERA) under the central Real Estate Regulation Act, 2016 (RERA) in an attempt to record details of new projects. The information regarding these projects will be made available on the authority's website which will be placed… Read More

Kolkata records subdued office space transactions during Q3: Report
October 28, 2016

According to a recent report by Colliers International, Kolkata failed to witness pickup in office space transactions during the third quarter (Q3) of 2016, with 0.09 million sq ft worth office space being absorbed. Meanwhile, leasing activity remained stable with technology companies taking up a major part at 33 per cent, engineering sector with 25 per cent, and fast-moving consumer goods (FMCG) and pharmaceutical sectors contributing 11 per cent to the transaction volumes. Majority of… Read More

Small residential plots up for grabs in New Town, Kolkata
October 25, 2016

In a major boost to mid-income buyers in Kolkata, the West Bengal state government has decided to allot small residential plots measuring two to three cottah in New Town, Kolkata for constructing homes. This decision was taken during a cabinet meeting in Nabanna. As per the plan, around 100 plots in Action Area III (New Town) will be up for grabs and will be allotted through an online auction. The last small land allocation process… Read More

Kolkata to get 14 km expansion of Metro network by 2018
October 3, 2016

A 14 km long expansion has been proposed for Kolkata Metro and the project is to be completed by 2018. The proposal considers the 5.3 km stretch between Kavi Subhash station at New Garia to Hemendra Mukherjee station. The new routes are likely to include four km between Noapara and Dakshineswar and five km between Noapara and Jessore Road. MC Chauhan, General Manager, Metro Railway Kolkata, shared that there are 41 out of the 400… Read More

Shipping ministry rejects 2 proposed ports in West Bengal
October 2, 2016

The new ports proposed by West Bengal government have hit a major hurdle with the Shipping Ministry rejecting the proposals on the grounds of sediment flux along with lack of economic and navigation feasibility. The ports were proposed to be built at Sagar Island, South-24 Parganas and Tajpur, East Midnapore. Officials shared that the Centre has already allocated Rs 12,000 crore for the development of infrastructure for the Sagar port, including roads and railway. However,… Read More

West Bengal plans new townships
September 30, 2016

According to Amit Mitra, West Bengal’s Finance Minister, the state government is focused on developing new Tier II and III townships in the state. Mitra has also invited developers and investors to come forward for the proposed themed township projects. West Bengal government had earlier proposed six townships in Baraipur, Siliguri, Asansol, Bolpur, Kalyani, and Howrah, and intends to offer them through global tendering and e-auction. However, experts are unsure if additional townships are a… Read More

Kolkata commercial space records 15-20% growth in deals
September 26, 2016

With Mamata Banerjee, Chief Minister of Kolkata announcing plans to set up business centres in the state, there has been a 15-20 per cent rise in commercial transactions in the past two months. The city witnessed the biggest transaction with Fosma Maritime Institute and Research Organisation purchasing a 30,000 sq ft commercial space in Godrej Riverside, Salt Lake. Commenting on the trend, Rahul Baid, Head-Corporate Transactions, Champalall & Co shared that organizations such as Fosma have been constantly looking out for opportunities to mark the presence in the city. But… Read More

Kolkata to get 24/7 water supply from 2020
September 24, 2016

Kolkata Municipal Corporation (KMC) plans to introduce continuous water supply in the city from 2020. This will be accompanied by the introduction of consumption-based water fees as the households receiving continuous water supply will be subject to a mandatory metering system. KMC officials shared that these changes will be made in a phased manner. The deadline for this ambitious project has been set after a meeting between a KMC delegation and the Asian Development Bank… Read More

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