Home Energy News Port & Dam News PLAN FOR A TOWNSHIP ON KOLKATA PORT TRUST LAND

    PLAN FOR A TOWNSHIP ON KOLKATA PORT TRUST LAND

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    Kolkata Port Trust

    It is said that the Kolkata Port Trust (KoPT), may receive a go ahead in about a month’s time from the union cabinet to lease out land for townships on a public private partnership (PPP) mode. Before inviting bids from realtors the port authority will draw up a township policy on the lines of Mumbai Port Trust.

    KoPT chairman M T Krishna Babu, in August, 2016 had announced the plans to lease out nearly 420 acres of prime land in Kolkata to realtors.

    “We had sent the proposal to the Centre and it was discussed by an inter-ministerial committee. There were some queries that we answered. The document will now move to the Union cabinet, which is expected to take a decision in a month’s time,“ Babu told TOI on Tuesday .

    To make the proposals more attractive, KoPT proposes to lease out property for residential use for 99 years while land for commercial purposes is leased out for merely 30 years. The basic idea is to raise money for KoPT’s pension fund. The port of Kolkata has the highest number of pensioners among all major ports in the country amounting to nearly 22,500. Among the plots being considered for township development are Portland Park Quarters Complex, Chetla Quarters (including Boat Canal and Durgapur Siding), Remount Road Quarters Complex, Taratala Labour Colony , New Howrah Bridge Quarters Comp lex and Brooklyn Quarters Complex.

    KoPT officials believe that despite the slowdown after demonetisation, particularly in the real estate sector there will be high demand for plots since they are at prime locations. The port authorities have been extremely stirred up as the demand for the commercial plots has risen and just recently, 90 plots were offered to bidders.

    “Of the 90 plots, we received bids for 69. This shows that there is demand for commercial plots as they are strategically located. We shall start work on the residential plots after the Centre clears the proposal and we have a township policy in place. In locations like Portland Park, we shall retain the portions where bungalows of our senior officers are located and lease out the remaining area,“ said Santanu Mitra, OSD (Land), KoPT.

    Out of 2,724 acres of prime property in Kolkata and Haldia KoPT plans to lease. The port owns 4,576 acres in Kolkata and 6,367 acres in Haldia. Of this, 2,080 acres in Kolkata and 2,100 acres in Haldia are used for the port activity. An additional 1,780 acres in Kolkata and 2,253 acres in Haldia have already been leased out, leaving 710 acres in Kolkata and 2,014 acres in Haldia.

    News source: realty.economictimes.indiatimes.com

    Picture source: calcuttanow.blogspot.in

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