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.

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