72-acre project to yield Rajarhat’s first major private township
Kolkata, 4 January 2021: ANAROCK Property Consultants’ Land Services division today announced the successful closure of a joint development deal for 72 acres in Kolkata’s Rajarhat, between Satyaa Homes and Ambuja Neotia Group. This is a significant township deal to be struck in 2020 and will result in the large plotted/villa development township to be launched in Rajarhat. Ambuja Neotia Group is the development management partner, and the finance partner is HDFC Capital Advisors Pvt Ltd.
Harshavardhan Neotia, Chairman – Ambuja Neotia Group says, “We are delighted to partner with Satyaa and HDFC to do this plotted development township in Rajarhat. Today customers are looking forward to have a small home of their own on a freehold property where they can have a private patch of green. This is more so in the post pandemic world.” The township, which will encompass plotted developments, villas, villaments and apartments right-priced in Rajarhat will be completed within 5 years.
A prominent micro-market in the north-eastern side of Kolkata, Rajarhat is home to major IT-ITeS companies like Cognizant Technology Solutions, Tech Mahindra, Tata Consultancy Services, and Ericsson India Global Services, among others. It is thus an important employment hub, which benefits from its close proximity to the Sector V, Salt Lake and the airport.
The last major township in Rajarhat was a 100-acre residential project by Unitech called Uniworld. It was completed about ten years ago and is situated next to the Unitech SEZ, which was later acquired by Brookfield and is now known as Candor Tech Park.
Soumendu Chatterjee, Director & City Head – Kolkata, ANAROCK Property Consultants says, “This deal is well-timed, aligning with the renewed aspirations in Kolkata for quality homes in superlative settings. Rajarhat’s residential sector offers options across all budget segments but the affordable segment is predominant, accounting for nearly 54% of the housing supply here. Mid-end segment housing accounts for only around 29% of the region’s residential supply.”
Ambuja Neotia Group and Satyaa Homes will jointly deliver this landmark project.