Fort Group Bags Ultadanga Project

May 11, 2007	(2 votes, average: 4 out of 5)  Loading ...
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The Fort Group, a prestigious real estate company in Kolkata, won the project for development of a commercial complex and a mall over an area of 5.93 acre plot in Ultadanga, owned by the Calcutta Metropolitan Development Authority (CMDA).

The authority also has plans to take up a multitude of other construction projects with private partners, on its land in Kolkata.

The Fort Group will pay Rs 75 crore as compensation for the land and take up responsibility of relocating 160 families living in a ‘rickety’ estate that now stands at the site. The residents of the estate will be shifted in flats to be built by the Fort Group, informs P.R. Baviskar, CMDA chief executive officer.

There were several prominent builders bidding on the lucrative contract. The list includes the names such as Paharpur Cooling Towers (Rs 57crore), South City group (Rs 55crore), Salarpuria group (Rs 35.51crore), BMW Industries (Rs 10.67crore) and Mumbai’s Unity Infrastructure (Rs 3crore). Beating all to punch, the Fort Group emerged as the winner.

The company had earlier bagged the contract for building a residential estate and a circuit house on a state government plot in Gol Park. It had also pitched for the redevelopment of Park Circus Market, owned by the Calcutta Municipal Corporation, but lost to Mukesh Ambani’s Reliance Retail.

The group had earlier bagged the contract for constructing a residential complex and a circuit house on a plot owned by state government in Gol Park. With all such construction projects in bag, the Fort Group has certainly fastened its seat belts to carve out a substantial niche in the fast flourishing city of Kolkata.

News Published Under:   Kolkata |