Portfolio
Batanagar ITSE Zone, Kolkata
Project Details:
Asset Class

Development Size
: Office (Information Technology) and Residential
3.3 million square feet
Yatra's Commitment : EUR 20.28 million
Location : Kolkata, West Bengal
Development Partner : Riverbank Developers Private Limited
Investment Date : December 2007
Equity Stake : 50%

Project

With a population in excess of 14 million, Kolkata is the largest and most prominent city in eastern India. Progressive government policy in recent years has improved the socio-economic environment in both the city and the state of West Bengal. A number of large infrastructure projects prompted global companies to establish operations including IBM, Siemens, Cognizant, HSBC, Deutsche Bank and American Express. As a result, Kolkata has witnessed considerable activity and evolution in its real estate landscape.

Yatra's investment is in an Information Technology Special Economic Zone (SEZ) spread over an area of 25 acres. The project is situated within Calcutta Riverside, an integrated township development covering over 262 acres in south-western Kolkata.Located on the banks of the Hoogly (Ganges) river, Calcutta Riverside will provide facilities such as premium housing, a retail shopping mall, healthcare facilities, a nine-hole golf course and a hotel and convention centre.

The SEZ will provide a built-up area of 3.3 million square feet with a mix of commercial (2 million square feet), residential (6 million square feet) and parking space (7 million square feet). HOK has completed the master planning for the township, while Larsen & Toubro, one of India's largest construction companies, has prepared the infrastructure plan.

Yatra's project partner is Riverbank Developers Private Limited, a joint venture between Bata India Limited (BIL) and Calcutta Metropolitan Group Limited (CMGL). BIL is one of the oldest multinational companies operating in India, while CMGL is a partnership between the United Credit Belani Group (a prominent local development group) and Kolkata Municipal Development Authority.

Key Highlights

  • The SEZ is proposed to be a LEED compliant Green Building and would cater to the growing demand for high quality office space for IT companies in Kolkata.
  • Partnership with a government body should help in the speedy execution of the project.


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