Rs 8 Billion New Town Land Auction Set for Poila Baisakh

20 Mar 2025 CW Team

Kolkata is gearing up for one of its biggest real estate deals, as a prime 17-acre plot in New Town, valued at over Rs 8 billion, is set for auction next month. Located in Action Area 1 between Novotel and Axis Mall, the land offers a development potential of approximately 30 lakh square feet, expected to generate over 25,000 jobs and contribute significantly to government revenue.

The land, owned by the West Bengal Infrastructure Development Finance Corporation (WBIDFC), was initially put up for auction two weeks ago but failed to attract bidders due to tender document issues. Revised documents are now being prepared for reauction. WBIDFC acquired the plot from HIDCO in 2012 in exchange for financial settlements, selling off residential plots over time while retaining this commercial parcel for future monetisation.

Industry experts believe the plot is ideal for large-scale commercial projects such as malls or hotels. Credai Bengal president Siddharth Pansari called the upcoming auction a potential gamechanger for the area.

If successfully executed, this deal could rival Kolkata’s largest land transactions, including Phoenix Mills Ltd’s Rs 4 billion purchase of a 5.6-acre Alipore plot in 2022 and Ambuja Group’s Rs 2.6 billion acquisition of a 10-acre site in Nonadanga. Meanwhile, another major deal involving a 24-acre BSNL plot near Taj Bengal, valued at over Rs 19 billion, is still in the preliminary stages and may take several months to materialise.

(MSN)

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..