Hidco eyes rich harvest by plot sale
Two-and-half acre of land has been put up for sale at Action Area II for a retail-cum-shopping and office complex.
Jun 03, 2013
Source : The Times of India
KOLKATA: After reaping rich harvest last year by selling off lands, The Housing Infrastructure and Development Corporation (Hidco) has again put up several commercial plots for sale. The authorities have marked around 5 acre of land combining three plots in different places of Action Area- II and III for auctioning and have invited applications from bidders. Two-and-half acre of land has been put up for sale at Action Area II for a retail-cum-shopping and office complex. In two other smaller plots, 1.13 acre in Action Area II, will be auctioned for an educational institution and another 1 acre of plot in Action Area III will be auctioned for an office complex. The plots will be given on lease-hold basis of 99 years. Though Hidco has been struggling to bring investments in the much-touted financial hubwhere some banking and financial institutions have been, the authorities have been successfully selling small plots for commercial purposes. In August last year, all land-selling records in Rajarhat New Town were broken when a 2.5-acre plot for an office complex was sold for Rs 51.13 crore, equivalent of more than Rs 20 crore per acre or Rs 34 lakh per cottah. A few months later, in November, another 22-cottah plot of land was auctioned for a polyclinic-cum-day care centre for Rs 6.85 crore, which was equal to Rs 18.45 crore per acre, the second all-time high. The authorities had also put nine small plots ranging between 20 cottah and 2 acres for sale through conventional bidding and auctioning. Out of the nine plots, seven of them were sold for a whopping Rs 58.5 crore. After the decision by the Mamata Banerjee government that no more land will be acquired for the New Town project, Hidco have been working to make maximum utilisation of plots in New Town by auctioning commercial plots. The authorities have been sending notice to those who have been keeping their allotted plot idle for more than six months. Also, no plots have been handed over in lower prices than the prevalent market rate in Rajarhat. Only one exception have been made so far as the state cabinet recently cleared a proposal to reduce the price of the 2-acre plot allotted to former India cricket captain Sourav Ganguly from about Rs 11 crore to almost half, around Rs 5.50 crore, for setting up a 10+2 school, on the consideration that about 25% of seats will be reserved for poor students.

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