Deal will result in two residential projects of 2 Mn sq. ft. each along riverfront and golf course Kolkata, West Bengal, India (NewsVoir) ANAROCK Property Consultants' Land Division has announced the successful culmination of yet another significant land deal for 20 acres at Kolkata's 262-acre Batanagar township in the Maheshtala area. The joint venture between development management partner Ambuja Neotia Group and Hiland Group includes 10 acres of land along the golf course, and another 10 acres at the Calcultta Riverfront. Bata India Ltd. is the landlord in both instances.
Along the golf course, the two groups will develop 12 residential towers (G+13) comprising of approx. 2000 units in 2 & 3 BHK configurations. The Riverfront project is currently being planned and further project specifications will be announced soon.
Soumendu Chatterjee, Director & City Head - Kolkata, ANAROCK Property Consultants says, 'Coming close on the heels of another major land transaction in Kolkata by ANAROCK, this deal stands further testimony to Kolkata's rebooted real estate potential. Maheshtala is an ideal location for affordable residential developments by two reputed developers.' Harshavardhan Neotia, Chairman - Ambuja Neotia Group says, 'This association will give us an excellent opportunity to do another sizeable project in the fast-growing affordable housing segment.' Strategically located on the eastern banks of the Hooghly river, Maheshtala offers spectacular views of the riverfront. Both the location and timing of this deal are fortuitous, coming at a time when considerable pent-up demand for affordable housing is hitting the Kolkata after the prolonged lockdowns. Social and physical infrastructure of the area is well-developed, and homes there fall well within the ‘sweet spot’ affordable bracket.
Sumit Dabriwala, Managing Director, Hiland Group says, “We are extremely excited to be collaborating with the AmbujaNeotia Group. Their bespoke development style will take Calcutta Riverside to a whole new level. With the Majherhat Bridge now operational, we are now in the heart of South Kolkata.” PWR PWR