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West Bengal Housing Infrastructure Development Corporation Ltd (HIDCO) has announced an e-auction of prime commercial land parcels in the Central Business District (CBD) of New Town, Kolkata, inviting bids from eligible corporate bodies. Two freehold commercial plots, one measuring about 10 acres and another approximately 3.9 acres, are being offered with starting bid prices of INR 353.3 crore and INR 138.9 crore respectively. Bidders must begin construction within a year of taking possession, and any change in planned land use is not permitted, underscoring the state's intent to fast-track structured commercial development in the rapidly expanding township. The move reflects ongoing efforts to unlock land assets and stimulate investment in Kolkata's growing urban real estate market, building on broader initiatives to develop New Town into a major commercial and economic hub.
West Bengal Housing Infrastructure Development Corporation Ltd (HIDCO) has formally invited bids for the allotment of two prime commercial land parcels in the Central Business District (CBD) area of New Town, Kolkata, through an e-auction process. The parcels are being offered on a freehold basis to eligible corporate bodies, with the bidding process scheduled for next month.
One of the plots spans about 10 acres, carrying a starting bid price of INR 353.3 crore, while the second measures around 3.9 acres with a base price of INR 138.9 crore. Authorities overseeing the auction have stipulated that the designated use of the plots cannot be altered and that construction work must commence within one year of possession being handed over to the successful bidders.
The e-auction initiative forms part of efforts by the state government and its agencies to unlock and monetise valuable land assets in New Town, an area designed to be a major business and commercial hub on the outskirts of Kolkata. Land auctions for prime parcels are seen as a way to attract institutional and corporate investment, enhance commercial infrastructure and support broader urban development objectives.
New Town has been a focus for residential, mixed-use and institutional land auctions in recent times, reflecting sustained interest from developers and investors in the region's growth potential. The offerings by HIDCO add to a series of land allotments aimed at catalysing real estate activity and delivering planned commercial expansion in the township.
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