Shriram Properties (SPL), through its subsidiary Bengal Shriram Hitech City Private (BSHCPL), has amicably resolved its long-pending commercial dispute with the Government of West Bengal.

The resolution involves the conveyance of 42.37 acres of land at Uttarpara, West Bengal, following which BSHCPL stands fully discharged of its obligations in the matter. The development enables the company to accelerate plans and sharpen focus on value unlocking from its larger Kolkata land parcel.

SPL holds approximately 314 acre in Kolkata, of which around 48 acre have been utilised for ongoing projects aggregating about 5 million sq ft, with nearly 80 per cent already sold. The company plans to undertake fresh projects of 5–6 million sq ft over the next five years, with a potential gross development value of around Rs 30 billion. It also intends to monetise part of the remaining land and FSI to unlock incremental value.

Gopalakrishnan J, CEO, Shriram Properties, said the settlement positions the company to accelerate development and create value in the coming years.