• News by Month

  Select Month February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006

• News by City

  • Bangalore
  • Chennai
  • Delhi
  • Faridabad
  • Gurgaon
  • Hyderabad
  • Kolkata
  • Mumbai
  • Noida
  • Pune

• News by Category

  • NRI
  • FDI
  • Home Loans
  • Real Estate India
  • Banking and Finance
  • Real Estate Developers

« HSBC to Set $600 mn Indian Realty Fund | Home | Overseas investment funds raise $30 bn for Indian Property Market »

Stiff Competition Ahead for Realty Majors

Indian real estate majors including the prominent names of DLF, Reliance Group, Emaar MGF, Indiabulls, Bengal Ambuja Realty, and Paharpur Cooling Towers will soon be seen competing for a prime 5-acre plot on the edge of EM Bypass Expressway. The project will be put to auction by Kolkata Municipal Corporation (KMC).

The property is located opposite to the Science City Infotainment Complex and a stone throw distance from the ITC Sonar. It has been offered by KMC on a 99-year long term lease through an auction. The land is likely to be used for development of an exclusive commercial-cum-residential complex.

There is a huge demand for commercials in the region. Amidst such a scenario, the plot is on the edge of a prime expressway that passes through fast flourishing New Kolkata on the eastern fringes of the city.

The request for proposal (RFP) document containing the terms and conditions of the auction have been purchased by 57 corporates. Potential buyers were required to buy the RFP by 5 October whereas October 15 is the last date for submission of bids.

According to sources, 50% of the proceedings from KMC auction will be used for setting up an art gallery in Rajarhat.

News Published Under:   Real Estate India | No Comments »

Comments

Name (required)   

Mail (required)      

URL