Kolkata's Hidco approves visionary New Town Vertical City project

11 Jan 2024 CW Team

Hakim stated, "The Chief Minister had previously announced the establishment of a world trade centre. It is planned to be a 38-storey vertically-structured building situated on four acres of land at the central business district (CBD) area. It will encompass various trade and industrial activities, and Hidco will be responsible for its construction. The total project cost is estimated at Rs 2.19 billion, and tenders will be floated soon."

Officials noted that the initial plan was to construct a 28-storey building, but it was later revised. "The process to obtain necessary environmental and other clearances is being initiated, and green building specifications will be adhered to," mentioned an official.

According to the officials, the building is designed to allocate floors for fintech companies and start-ups, along with spaces for commercial, retail, and residential purposes on the top floors.

Based on the initial floor-wise concept plan, the lower floors will be designated for commercial and retail purposes, with one floor reserved for a food court. The subsequent floors moving upwards will be allocated for office space, catering to start-ups and fintech companies. The following floor will serve as a service floor, while the remaining floors up to the 38th floor will be designated for residential purposes. The conceptualised facilities include a clubhouse and a sky deck.

Hidco emphasises the optimal use of space by constructing high-density vertical structures in real estate development. Officials highlighted that the concept of a vertical city aims to incorporate residential, commercial, retail, fintech, and other establishments within a single building, facilitating the efficient utilisation of space.

The Housing Infrastructure Development Corporation (Hidco) approved the proposal to establish a vertical city in New Town, following the specifications of the World Trade Centre. The discussion and approval took place during the Hidco board meeting held on the same day. Firhad Hakim, the State Urban Development Minister and Hidco Chairman, mentioned that the vertical city building is planned in accordance with the World Trade Centre specifications. Hakim stated, The Chief Minister had previously announced the establishment of a world trade centre. It is planned to be a 38-storey vertically-structured building situated on four acres of land at the central business district (CBD) area. It will encompass various trade and industrial activities, and Hidco will be responsible for its construction. The total project cost is estimated at Rs 2.19 billion, and tenders will be floated soon. Officials noted that the initial plan was to construct a 28-storey building, but it was later revised. The process to obtain necessary environmental and other clearances is being initiated, and green building specifications will be adhered to, mentioned an official. According to the officials, the building is designed to allocate floors for fintech companies and start-ups, along with spaces for commercial, retail, and residential purposes on the top floors. Based on the initial floor-wise concept plan, the lower floors will be designated for commercial and retail purposes, with one floor reserved for a food court. The subsequent floors moving upwards will be allocated for office space, catering to start-ups and fintech companies. The following floor will serve as a service floor, while the remaining floors up to the 38th floor will be designated for residential purposes. The conceptualised facilities include a clubhouse and a sky deck. Hidco emphasises the optimal use of space by constructing high-density vertical structures in real estate development. Officials highlighted that the concept of a vertical city aims to incorporate residential, commercial, retail, fintech, and other establishments within a single building, facilitating the efficient utilisation of space.

Infrastructure Urban

30 May 2026

Dreamfly Named Among 100 Desi Deeptechs

Dreamfly Innovations has been recognised among the ‘100 Desi Deeptechs’, an initiative by Startup Policy Forum in collaboration with MeitY Startup Hub, Startup India and Indian Institute of Technology Madras. The initiative highlights founders and companies building core technologies critical to India’s long-term growth and self-reliance.The cohort includes startups working across drones and aerospace, defence technology, cleantech, robotics, semiconductors, advanced manufacturing and electric mobility. It aims to bring deeptech founders and policymakers together to strengthen India’s ..

Infrastructure Urban

30 May 2026

Vedanta Secures AA+ Rating from ICRA

Vedanta Group has received its highest domestic credit rating in over a decade after ICRA upgraded the long-term ratings of Vedanta Limited and Vedanta Aluminium Metal Limited to AA+ with a Stable outlook. Talwandi Sabo Power Limited was also upgraded to AA-/Stable from A+/Watch Developing, while the group’s short-term rating was reaffirmed at A1+.The rating action marks Vedanta’s highest domestic credit rating since 2014. Vedanta Limited and Vedanta Aluminium Metal Limited, two of the largest entities emerging from the demerger, together account for over 75 per cent of the group’s long-..

Infrastructure Urban

30 May 2026

Netrasemi Launches Edge AI Chip A2000

Fabless semiconductor startup Netrasemi has launched its flagship Edge AI system-on-chip, A2000, after achieving successful silicon bring-up. Fabricated at TSMC’s 12 nm technology node, the chip is designed for on-device AI, smart vision, real-time video analytics and secure edge computing.A2000 features Netrasemi’s in-house Neural Processing Unit, Vision Processing Unit, Image Signal Processor, crypto engines and other hardware acceleration IP cores. It also uses the company’s patented heterogeneous graph-stream parallel processing architecture.The chip targets applications such as smar..