Bengal Abasan Builders, a Kolkata-based group of real estate developers, will investment over ₹800 crore to set up around 1,600 apartments in Kalikapur, on the south-eastern fringes of the city.
Bengal Abasan is a part of the city-based Urban Abasan Group.
Called ‘Urban Sabujayan’, the project will be built in two phases over a 22-acre plot. While the first phase consisting of 700-odd dwelling units is expected to be completed by December 2015; the second phase having some 900 units will be completed by end-2017.
According to Sunil Kolay, Project Management Consultancy Head, Cosmic Consultancy Service, the project will also include commercial space, schools and other facilities to make it look like a township. Cosmic Consultancy has been roped in as consultants for the project.
“In all the dwelling units will be spread across 230 plus buildings over a 22 acre plot. Work on the project has already begun,” he said.
Also on card is a second apartment complex at Boral, in the southern fringes of the city. Work on the project is expected to start after October this year.
The group is, meanwhile, looking to set up a three-star hotel in the South Kolkata; work on which is expected to begin by the end of this year. This apart, it will also make operational a 32-room guest house in the city outskirts soon.