City Beat: West Bengal To Soon Have A Private City [Video]
The City of Joy has emerged as one of the top runners according to a latest report released by PropTiger DataLabs on the second quarter of current financial year. Data show that Kolkata has witnessed the highest quarterly sales growth of 35 per cent and also, the highest number of new launches with an appreciation of 480 per cent when compared to the previous quarter. A pick-up in sales, according to the report, could be due to a correction in property prices, which stands at a marginal two per cent over the same quarter in the previous financial year.
In another development, which is expected to restart stalled projects in Kolkata, the Ministry of Defence has planned to release new guidelines for highrises in the city, close to defence campuses. The Works of Defence Act, a 113-year-old law, has been a deterrent in the way of highrises. Under the new guidelines, highrises near the defence campuses can be constructed beyond 100 metres while single-storey structures can be constructed beyond 50 metres.
Meanwhile, West Bengal may soon have its first private city at Amtala in South 24-Parganas. The city that will be 28 kms from Kolkata has been proposed by the Ambuja Neotia Group, and is awaiting an approval from the state Cabinet. The proposal has been submitted a year after the Mamata Banerjee-led state government cleared the decks for six theme-based cities to be built on a public-private partnership model. For the project based on the theme of education, the group has already bought 50 acres of land, and has received approval from the Urban Development Department. According to the state's policy for such cities, 25 per cent of the township will be non-residential and focused on the theme, and another 25 per cent will be reserved for the housing of the economically weak.