SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Kolkata

Kolkata opens INR 77 crore, 400-metre Kalighat skywalk to ease temple access for 60,000 daily visitors

18 Apr 2025

West Bengal Chief Minister Smt Mamata Banerjee has inaugurated Kolkata's longest skywalk, a INR 77 crore project connecting Kalighat Temple to Shyama Prasad Mukherjee Road. Spanning 400 metres, the skywalk is designed to serve up to 60,000 pedestrians daily, reducing congestion near the iconic temple. Built by the Kolkata Municipal Corporation, the structure includes 12 escalators, 4 staircases, and 2 lifts, along with CCTV and firefighting systems. Despite early legal and political hurdles, the project was completed after a two-year delay. Officials now see the skywalk as a model for future projects in high-footfall areas balancing heritage preservation with infrastructure upgrades.Read more

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Kolkata: KMC mandates info boards at all under-construction buildings for transparency

15 Apr 2025

The Kolkata Municipal Corporation (KMC) has mandated that all under-construction buildings display boards with sanctioned plan numbers, architect/LBS names, and building heights. This move aims to protect prospective flat-buyers from promoter violations. Borough engineers are instructed to identify non-compliant sites and issue stop-work notices. Surveys will ensure board visibility, following directives from the mayor's office. Officials say such boards will boost buyer confidence. KMC engineers are also urged to coordinate with local police to ensure safe enforcement. Senior officials will monitor compliance through reports from borough engineers to ensure prompt action against unauthorized or hidden constructions across the city.Read more

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Bidhannagar civic body extends the deadline for property tax payments

02 Apr 2025

The Bidhannagar Municipal Corporation has extended the deadline for property tax payments for the 2024-25 financial year. Online payments will be accepted until April 5, while cash payments must be made by April 4. The civic body aims to boost tax collection and has set a target of INR 44 crore for this year. Efforts are also underway to introduce the Bharat Bill Payment System for added convenience. Additionally, a uniform tax structure is being planned across all 41 wards.

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Kolkata: NKDA collects INR 83 lakh from property tax and mutation fees in New Town outreach camps

28 Mar 2025

The New Town Kolkata Development Authority (NKDA) has gathered approximately INR 83 lakh from property tax and mutation fees through outreach camps held across various housing complexes in the last three months. Conducted at locations such as Sukhobristi Housing, Rosedale, and Unitech, the initiative resulted in the collection of INR 39 lakh from property tax and INR 44 lakh from mutation fees. A total of 75 property tax assessments and 101 mutation applications were processed. Aimed at clearing tax arrears and streamlining the mutation process, the camps also sought to boost taxpayer participation through awareness campaigns. NKDA plans to expand this initiative in the coming months, including commercial units and business establishments in New Town.

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Calcutta HC cracks down on Watgunge illegal structure; 53 occupants to be evicted

27 Mar 2025

The Calcutta High Court has ordered the demolition of three illegally constructed floors along a six-foot-wide lane in Watgunge, directing the Kolkata Municipal Corporation (KMC) to carry out the demolition and inspect nearby structures. A division bench, led by Chief Justice TS Sivagnanam, instructed police to evict 53 occupants from the building, serving notices for vacating by April 30, with forced eviction by May 10 if required. The demolition is scheduled to begin on June 19, with KMC to submit a compliance report. The court criticized the building owner for unauthorized construction, flagged concerns over fire safety risks, and reprimanded KMC officials for withholding facts and allegedly protecting the private respondent.

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Kolkata: KMC eases building norms for small plots to curb illegal constructions

06 Mar 2025

The Kolkata Municipal Corporation (KMC) buildings department sanctioned four building plans for small plots ranging from 450 to 1,500 square feet in Garia and nearby areas off EM Bypass earlier this week. Prior to this, two small plots in the Kasba-Garfa belt and Patuli had also received approval. In an effort to curb unauthorised constructions, KMC has introduced amendments to existing building regulations, encouraging small plot owners to submit plans for approval. The relaxations will be applicable to plots between 350 and 2,100 square feet, provided the owners engage an architect or structural engineer for compliance. The initiative, which includes colony and thika land, may be expanded based on public response.Read more

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Kolkata to receive USD 200 million loan for climate-resilient sewerage and drainage systems

05 Mar 2025

The Asian Development Bank (ADB) has approved a USD 200 million loan for the Kolkata Municipal Corporation Sustainability, Hygiene, and Resilience Project to modernize sewerage and drainage infrastructure in the city. The project aims to address urban flooding, outdated drainage systems, and climate resilience by constructing 84 km of trunk and secondary pipelines, 176 km of lateral pipelines, one sewage treatment plant, and five pumping stations. Over 277,000 residents will benefit, particularly in vulnerable communities. This initiative aligns with broader climate-resilience efforts, including World Bank-funded flood mitigation in Mumbai and a EUR 100 million AFD-backed stormwater drainage upgrade in Chennai. As Indian cities increasingly seek international funding for climate adaptation, Kolkata's project could serve as a model for urban infrastructure resilience across South Asia.Read more

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Kolkata: KMC demolishes 150 illegal buildings in crackdown on unauthorized construction across Kolkata

28 Feb 2025

The Kolkata Municipal Corporation (KMC) has demolished 150 unauthorized buildings over the past year and issued 5,000 stop-work notices to developers violating building norms. Additionally, 500 FIRs have been filed against those continuing construction despite warnings. The crackdown, targeting high-risk areas like Rajarhat, Garia, and Behala, aims to improve urban safety and prevent structural failures. Opposition leaders have raised concerns over homebuyers unknowingly purchasing illegal flats, calling for stricter approval processes. With demand for RERA-compliant housing up 30%, KMC plans to introduce an online portal for property verification, ensuring safer, legally approved real estate development in Kolkata.Read more

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Bengal Silicon Valley expands to 200 acres, set to create 75,000 jobs in new town IT hub

17 Feb 2025

The Bengal Silicon Valley IT Hub in New Town, originally a 100-acre project, has doubled to 200 acres due to high demand from IT firms. 38 companies have received Letters of Intent, with nine already under construction. Major investors include Reliance, Airtel Nxtra, ST Telemedia, and NTT, alongside Infosys, which secured 50 acres. The project aims to generate 75,000 jobs, strengthening Kolkata's IT sector. With 91.8% occupancy across Bengal's 22 IT parks, the state is boosting infrastructure and connectivity to support continued growth, solidifying its position as an emerging tech hub.Read more

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Kolkata Infrastructure: Kamarhati Municipality orders demolition of 57 illegal buildings over safety concerns

17 Feb 2025

The Kamarhati Municipality has ordered the demolition of 57 unauthorized buildings in Belgharia-Kamarhati after safety inspections revealed structural risks. FIRs have been filed against 17 builders for violating construction laws, while authorities identified multiple tilting buildings in areas like Sasthitala, MacKenzie Road, and Ariadaha. The crackdown follows the near-collapse of a structure in Baghajatin, raising public safety concerns. Residents demand rehabilitation, criticizing officials for inaction against promoters. The municipality is exploring resettlement options, but enforcement measures are expected to tighten to prevent future illegal constructions in the area.Read more

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Kolkata civic body relaxes building rules to allow construction on small plots

11 Feb 2025

The Kolkata Municipal Corporation (KMC) has approved a rare building plan for a 410 sq ft plot, relaxing its usual minimum requirement of 720 sq ft. This decision, made during a mayor-in-council meeting, aims to prevent unauthorised construction on small plots. The move follows an appeal from a landowner on Middle Road, with similar cases pending across multiple wards. To regulate small-plot construction, the KMC is considering a broader policy change, initially covering colony and thika land. The proposed amendment will allow construction on plots between 350 sq ft and 2,100 sq ft, provided owners hire professionals and adhere to safety norms.Read more

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Kolkata: KMC plans to relax building rules for small plot owners to encourage legal construction

04 Feb 2025

The Kolkata Municipal Corporation (KMC) is working on a proposal to help owners of small plots by easing building regulations. The aim is to encourage legal construction and prevent illegal buildings, many of which have raised safety concerns. Under the new plan, owners of plots between 350 sq ft and 2,100 sq ft will be able to construct homes without a sanctioned plan, provided they submit a detailed design from an architect or engineer. The initiative is targeted at certain areas initially and may expand depending on public response.Read more

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Kolkata introduces safety guidelines for tilting buildings in Salt Lake and New Town

03 Feb 2025

Kolkata's urban development department has issued new guidelines to address the issue of tilting buildings in areas like Salt Lake and New Town. Building owners must submit detailed proposals, including soil test reports and lifting mechanisms, to their local civic body for review. Structural engineers and licensed agencies will oversee the process to ensure safety compliance. The guidelines emphasize soil stability assessments and professional supervision to mitigate risks. Residents are encouraged to report signs of tilting to local authorities promptly. These measures aim to enhance urban safety, protect structural integrity, and create a safer living environment in Kolkata.Read more

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New Town Kolkata Development Authority launches property tax collection and mutation camps

27 Jan 2025

The New Town Kolkata Development Authority (NKDA) has initiated property tax collection and mutation camps at residential complexes, aiming to boost compliance and revenue before the financial year ends in March. These on-site camps offer a hassle-free way for residents to update property records and pay taxes without visiting government offices. NKDA officials are providing guidance on documentation and tax processes, encouraging apartment owners to participate. With a growing population, the initiative aims to streamline tax collection, ensure accurate property records, and support the sustainable development of New Town.Read more

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Kolkata: Building collapse leaves six families homeless after failed attempt to correct tilt

23 Jan 2025

A four-storey illegal residential building, Subho Apartment, in Baghajatin Vidyasagar Colony, South Kolkata, collapsed onto a neighbouring one-storey house earlier this week while being lifted to correct its tilt. The building had started tilting four years ago due to soil and foundation failure, and efforts to realign it using hydraulic pressure caused it to collapse. Fortunately, no one was inside when the building fell as all residents had evacuated the previous month. An investigation revealed that the building had been constructed without proper approval, and an FIR was filed against the building owners and the company involved in the lifting work. The incident left at least six families homeless.Read more

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State-owned BSNL's 780-cottah Kolkata property set to drive city's largest real estate deal

22 Jan 2025

A state-owned BSNL property spanning 780 cottahs in Kolkata is set to become one of the city's largest real estate transactions, valued at INR 1,900 crore. Located at a prime intersection near AJC Bose Road, the site includes a heritage building and offers potential for mixed-use development. While the National Land Monetization Corporation (NLMC) has initiated the sale process, industry experts foresee challenges such as Army permissions, height restrictions, and limited demand for luxury apartments. Nonetheless, this development is viewed as a significant opportunity to unlock underutilised land in the heart of the city.Read more

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Government initiates monetisation of Bharat Sanchar Nigam Limited's heritage property in Kolkata

21 Jan 2025

The government has initiated the process to monetise Bharat Sanchar Nigam Limited's (BSNL) heritage telecom factory in Kolkata, marking the third attempt to monetise the organisation's properties. Located opposite the Kolkata Race Course, the freehold property includes a heritage building constructed in 1947, with a total area of 52,178 square metres. While previous efforts to monetise BSNL properties in Barrackpore and Madhyamgram were unsuccessful due to a lack of bidders, the Alipore factory's unique heritage aspect is expected to attract interest. BSNL plans to shift the current operations to its larger Kharagpur unit.Read more

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Kolkata Municipal Corporation enforces new rules to ensure real estate accountability

20 Jan 2025

In response to rising complaints about incomplete housing projects, the Kolkata Municipal Corporation (KMC) has introduced stricter regulations to hold real estate developers accountable. Developers must now sign an undertaking to apply for an occupancy certificate (OC) post-construction. Mayor Firhad Hakim warned of penalties, including water supply disconnection, for non-compliance. Inspectors will verify project adherence within three days of completion, issuing certificates within 45 days if standards are met. This initiative aims to protect homebuyers from developers abandoning projects without proper certifications, a persistent issue in areas like Garden Reach and Tollygunge. The KMC's measures signal a robust push for transparency and buyer protection.Read more

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Kolkata Metro proposes 1.6 km extension to Eden Gardens station on Purple Line

20 Jan 2025

Kolkata Metro authorities have proposed a 1.6 km extension of the Joka-Esplanade Purple Line to include a new station at Eden Gardens. Submitted to the Railway Board for approval, the extension will directly connect the stadium area to the metro network, benefiting cricket and football fans, commuters to Strand Road, Babughat, and BBD Bag. This addition replaces plans for a long subway, offering faster access and reducing congestion. With the metro currently serving 750,000 daily passengers, this project promises enhanced connectivity and environmental benefits, including preserving trees near Strand Road. Eden Gardens station is poised to become a vital transport hub.Read more

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Kolkata: NKDA to take action against residential buildings misusing space for commercial purposes

13 Jan 2025

The New Kolkata Development Authority (NKDA) has identified over 1,000 residential buildings in New Town suspected of exceeding space limits or misusing areas for commercial activities without permission. Complaints from local residents, including noise disturbances from late-night events, have prompted the authorities to act. The NKDA plans to conduct surveys to compile a list of such buildings, followed by penalties for property owners. According to regulations, 40% of the floor area can be used commercially, but without proper clearance, property owners could face legal action.Read more

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