Kolkata Economy and Real Estate Thread

[SarafIndian]

Tata plans Nano homes on fringes

The Tatas are bringing back Nano to Bengal — not the car but the home.

Tata Housing on Friday announced plans to build an estate of homes priced below Rs 10 lakh each, popularly known as Nano homes after the “people’s car”.

Brotin Banerjee, the managing director and CEO of the company, said he was looking for a land parcel of 60 to 100 acres within 20km of the city core for the project.

“Tata Group is committed to the state for new projects and investments. We will launch many more projects, including affordable housing called Subh Griha,” he said.

Banerjee was in the city to launch Eden Court Primo, a premium residential estate in Rajarhat with a price tag of Rs 70 lakh-plus.

The company has a 26-acre plot in the area, of which it is using only eight acres. It had acquired the plot from Hidco on a “nomination” basis for an undisclosed price.

He said there was “goodwill” between the government and the group but denied that the Rajarhat land was given at lower than the market rate after the Tatas had agreed to set up the Nano factory in Singur.

Tata Housing was to get another 24 acres in the area but the deal did not materialise. Tata Motors pulled out of Singur in October 2008.

For the Subh Griha project, Tata Housing wants to steer clear of controversy and acquire land on its own or join hands with a local partner who has land.

“We are looking at the Baruipur-Sonarpur, Kona Expressway and Dankuni areas,” said Banerjee.

Tata had introduced Nano housing project in Boisar, on the outskirts of Mumbai. The prices for 1 BHK flats measuring between 283sq ft and 465sq ft ranged from Rs 3.9 lakh to Rs 6.7 lakh. Banerjee said it would be difficult to maintain such prices as steel and cement had become expensive.

A similar project would be launched in Mumbai soon. The company intends to build four to five such townships in the next four years, including the one in Calcutta.

Tata Housing also plans to bring its New Haven housing project, where flats are priced between Rs 13 lakh and Rs 32 lakh, to Bengal.

Flats in Eden Court Primo, the premium G+23 twin towers launched on Friday, range between 1,732sq ft to 2,180sq ft. The complex would have clubhouse, swimming pool, sauna, jacuzzi and sky gardens. There would also be retail space of 60,000sq ft.

[niljee]

Brand Bengal resurfaces on big ticket investment
Ajanta Chakraborty & Suman Chakraborti , TNN, Jun 12, 2010, 05.21am IST

KOLKATA: Brand Bengal is the buzz, yet again. On Tuesday, it was DLF reviving its IT-SEZ in New Town. Three days later, on Friday, Tata (are the Singur pangs behind it?) announced a fresh project in the same area. But that's only the beginning of a revival story.

Several big-ticket investments — from realty to health and hospitality — are lined up for Bengal despite the ongoing political turmoil. In fact, none of these potential investors wants to even acknowledge the political factor. The only dissuading factor so far was the recession, they say. "And Bengal, along with the country, has come out of it. Things are fast returning to normal," said housing minister Gautam Deb, who is the chairman of Hidco, the agency that has developed Kolkata's only available land vector New Town.

"In fact, the queue for land-seekers is so long that we need to acquire land fast to meet at least some of the demand," Sourabh Das, managing director, Hidco, said on Friday.

The minister said, "Developing infrastructure for New Town is our biggest priority. For this, the government has allotted Rs 600 crore this financial year, double the amount allotted last year."

The list of wannabe investors is long. The Hyatt group has just been given six acres for their second five-star hotel. Anik Industries has also got five acres for a three-star hotel. "We have also provided land to Ohio Heart
Clinic," the housing minister said. Promoted by a group of Indian cardiologists based in Ohio (US), the Rs 80-crore project involves setting up a 200-bed hospital at New Town. Land has also been allotted for the Kohli Management University.

The "speedy land allotment at New Town" is an indication of the boom time, said Deb. Hidco has already handed over plots to 35 central government organizations, including Isro and Saha Institute of Nuclear Physics. Another 13, including Rites, are likely to be given land after Hidco's next board meeting.

Three central government agencies — NBCC, Hindusthan Steel Construction Limited and Engineers Project Indian (EPI) — will build housing projects at Rajarhat. Another two central organizations, Sail and Tata Steel have been given 1.5 acres for their joint venture project.

Das, the Hidco MD, said, "DLF is here in a big way. So are the Tatas. We have given land to Wipro for its second complex. Only yesterday, Unitech has handed over 6 lakh square feet of space to Wipro for their New Town office."
For the moment, Hidco is not ready to provide land to individual developers. "Only a few private companies like DLF and Bengal Unitech received land some years ago. At present, only joint sector companies collaborating with Hidco will get land, other than central government organizations," said a Hidco official.

Officials said that a policy was being framed to hand over the earmarked commercial plots. The policy will specify the type of commercial establishments that could be set up within the allotted land area.

Hidco has so far reserved 10% of the 3,779 hectare land area for commercial purposes and only 3.8 % of area for IT and ITES establishments. Most of this is in the planned central business district of New Town.

[SarafIndian]

Brand Bengal resurfaces on big ticket investment

Ajanta Chakraborty & Suman Chakraborti | TNN

Kolkata: Brand Bengal is the buzz, yet again. On Tuesday, it was DLF reviving its IT-SEZ in New Town. Three days later, on Friday, Tata (are the Singur pangs behind it?) announced a fresh project in the same area. But that’s only the beginning of a revival story.
Several big-ticket investments — from realty to health and hospitality — are lined up for Bengal despite the ongoing political turmoil. In fact, none of these potential investors wants to even acknowledge the political factor. The only dissuading factor so far was the recession, they say. “And Bengal, along with the country, has come out of it. Things are fast returning to normal,” said housing minister Gautam Deb, who is the chairman of Hidco, the agency that has developed Kolkata’s only available land vector New Town.
“In fact, the queue for landseekers is so long that we need to acquire land fast to meet at least some of the demand,” Sourabh Das, managing director, Hidco, said on Friday.
The minister said, “Developing infrastructure for New Town is our biggest priority. For this, the government has allotted Rs 600 crore this financial year, double the amount allotted last year.”
The list of wannabe investors is long. The Hyatt group has just been given six acres for their second five-star hotel. Anik Industries has also got five acres for a three-star hotel. “We have also provided land to Ohio Heart Clinic,” the housing minister said. Promoted by a group of Indian cardiologists based in Ohio (US), the Rs 80-crore project involves setting up a 200-bed hospital at New Town. Land has also been allotted for the Kohli Management University.
The “speedy land allotment at New Town” is an indication of the boom time, said Deb. Hidco has already handed over plots to 35 central government organizations, including Isro and Saha Institute of Nuclear Physics. Another 13, including Rites, are likely to be given land after Hidco’s next board meeting.
Three central government agencies — NBCC, Hindusthan Steel Construction Limited and Engineers Project Indian (EPI) — will build housing projects at Rajarhat. Another two central organizations, Sail and Tata Steel have been given 1.5 acres for their joint venture project.
Das, the Hidco MD, said, “DLF is here in a big way. So are the Tatas. We have given land to Wipro for its second complex. Only yesterday, Unitech has handed over 6 lakh square feet of space to Wipro for their New Town office.”
For the moment, Hidco is not ready to provide land to individual developers. “Only a few private companies like DLF and Bengal Unitech received land some years ago. At present, only joint sector companies collaborating with Hidco will get land, other than central government organizations,” said a Hidco official.
Officials said that a policy was being framed to hand over the earmarked commercial plots. The policy will specify the type of commercial establishments that could be set up within the allotted land area.
Hidco has so far reserved 10% of the 3,779 hectare land area for commercial purposes and only 3.8 % of area for IT and ITES establishments. Most of this is in the planned central business district of New Town.

Upcoming projects at NEW TOWN

+ Hyatt’s second five-star hotel + Ohio Heart Clinic + Anik Industries’ hotel + NBCC housing project + HSCL housing project + EPI housing project + Kohli Management University

[highrise-kolkata]

Only yesterday, Unitech has handed over 6 lakh square feet of space to Wipro for their New Town office.”

Great news WIPRO all set to open its 2nd office in kolkata at unitech infospace along with capgemini,HCL,IBM,TCS,GENPACT.

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[Samrat]

Kolkata is booming on IT, reality and hospitality sectors again. Great news indeed

[Suncity]

"Brand Bengal" the new buzzword adopted by media is pretty unpredictable. When the editors and journalists are happy "Brand Bengal" goes up. When they are unhappy or upset "Brand Bengal" goes down.

Not too long ago the buzzword was "Buddha's Bengal".

[sabya99]

Originally Posted by Suncity

"Brand Bengal" the new buzzword adopted by media is pretty unpredictable. When the editors and journalists are happy "Brand Bengal" goes up. When they are unhappy or upset "Brand Bengal" goes down.

Not too long ago the buzzword was "Buddha's Bengal".

It will not be easy to trash Buddhadeb's idea of reindustrializing waste bengal. Let TMC come into power face the hard reality. Perhaps a central path will emmerge! But it will be too late , by then many techies will have to leave Kolkata in search of job. And the lumpens of bengal--- they have no place anywhere , no matter whom they vote!

[anirban_ban]

Originally Posted by sabya99

It will not be easy to trash Buddhadeb's idea of reindustrializing waste bengal. Let TMC come into power face the hard reality. Perhaps a central path will emmerge! But it will be too late , by then many techies will have to leave Kolkata in search of job. And the lumpens of bengal--- they have no place anywhere , no matter whom they vote!

Humble request ... Please do not use the term "Waste" Bengal for West Bengal.

[Suncity]

I like Best Bengal.

[Suncity]

Yes Bank launches NE, East operations

http://www.indiablooms.com/BusinessD...ils120610a.php

YES BANK, India’s new age private sector Bank, on Saturday formally inaugurated its North East India and West Bengal Banking operations by adding 15 Branches (10 Operational Branches and 5 Branches opening shortly), to further focus on the growing business and financial opportunities in this key region in our country.

The inauguration by Union Finance Minister Pranab Mukherjee from the flagship YES BANK Kolkata Branch at Camac Street, witnessed the presence of business leaders and industry experts from across this significant region. The Bank also announced its plans to launch 100 more branches across the country within the next one year.

YES BANK’s objective is to strengthen the financial infrastructure in the significant Northeast region & West Bengal, by establishing an extensive and robust framework of state-of-the-art branches providing comprehensive financial solutions, specifically catering to Large & Mid-Corporate, State Government entities, SMEs and Individual customers in this high-potential region.

[unknown_kolkatan]

Only yesterday, Unitech has handed over 6 lakh square feet of space to Wipro for their New Town office.”

Great news WIPRO all set to open its 2nd office in kolkata at unitech infospace along with capgemini,HCL,IBM,TCS,GENPACT.

Is it the 2nd or 3rd? Wipro have bought huge plot from the CM also in December.
And who needs Infosys?(they are most welcome if they want to come...but no smart-a** comments please) Wipro loves Bengal.

I like Best Bengal.

Me too. In any part of the Globe, I feel proud to proclaim, I am from Bengal, India.

[unknown_kolkatan]

"Brand Bengal" the new buzzword adopted by media is pretty unpredictable. When the editors and journalists are happy "Brand Bengal" goes up. When they are unhappy or upset "Brand Bengal" goes down.

Yah...it oscillates like the sensex.

[SarafIndian]

Media started reporting the "investment rain in bengal" from the last 3-4 days, I think. What happened? So, all the companies started investing in bengal just after the last civic election and all the "singur and nandigram" effects are suddenly gone ..

Originally Posted by unknown_kolkatan

it oscillates like the sensex.

[highrise-kolkata]

Originally Posted by unknown_kolkatan

Is it the 2nd or 3rd? Wipro have bought huge plot from the CM also in December.
And who needs Infosys?(they are most welcome if they want to come...but no smart-a** comments please) Wipro loves Bengal.


Me too. In any part of the Globe, I feel proud to proclaim, I am from Bengal, India.

Also I heard,Cognizant is shifting its Technopolish office to new bantala facility.Vacant office space will be occupied by Accenture.Correct me if I m wrong.

[unknown_kolkatan]

Originally Posted by highrise-kolkata

Also I heard,Cognizant is shifting its Technopolish office to new bantala facility.Vacant office space will be occupied by Accenture.Correct me if I m wrong.

I am not sure....but I heard Accenture already has a office space in Newtown. Or is the aforesaid office their first premises??

[studdmanster]

Finally Accenture comes to Kolkata...thats a gr8 news...its been in news for last 3yrs that Accenture's coming!

[arijeetb]

Originally Posted by sabya99

It will not be easy to trash Buddhadeb's idea of reindustrializing waste bengal. Let TMC come into power face the hard reality. Perhaps a central path will emmerge! But it will be too late , by then many techies will have to leave Kolkata in search of job. And the lumpens of bengal--- they have no place anywhere , no matter whom they vote!

@sabya99 - It is true that many techies have left, but there are several others such as myself who are presently working in Kolkata after spending a decade outside the state. The growth of this sector here over the next decade will largely be led by expansion plans of Wipro, TCS, IBM and Cognizant who are either leasing out or have land at their disposal to build tech campuses.


And please....the oft repeated use of "Waste Bengal" and "lumpens" to refer to the common people is not good to hear.

[arijeetb]

Originally Posted by studdmanster

Finally Accenture comes to Kolkata...thats a gr8 news...its been in news for last 3yrs that Accenture's coming!

the rumours surrounding Accenture's entry here never ends. I first heard they were to take up a couple of floors at Millenium City(tower2), then we heard that they plan to operate from the almost complete tower 1 of Globsyn and now we are hear they are operating from New town.

Do we have a source? Is it DLF or Infospace in New Town?

The tech sector most badly needs this company to invest in the state;

[sabya99]

Originally Posted by anirban_ban

Humble request ... Please do not use the term "Waste" Bengal for West Bengal.

I am so upset with the mantal inertia of bengali babus that I use the term " waste Bengal " to express my frustation.

[SamitB]

Originally Posted by arijeetb

the rumours surrounding Accenture's entry here never ends. I first heard they were to take up a couple of floors at Millenium City(tower2), then we heard that they plan to operate from the almost complete tower 1 of Globsyn and now we are hear they are operating from New town.

Do we have a source? Is it DLF or Infospace in New Town?

The tech sector most badly needs this company to invest in the state;

I eagerly want to know whether Accenture has taken up space in kolkata?
Please give source info if anybody has