Jones Lang LaSalle India closes land deal in Kolkata

Alchemist Township India has earmarked approximately Rs 600 crore for the project

Property consultant Jones Lang LaSalle India today announced that Delhi-based real estate developers Alchemist Township India has purchased 2 million square feet of prime residential land from Highland Group at Kolkata Riverside, a satellite township development encompassing 262 acres being developed on the banks of the Hooghly River.

 

Altogether, Alchemist Township India has earmarked approximately Rs 600 crore for this project. Jones Lang LaSalle India was transaction partner for both the firms in this deal.

 

Sumit Dabriwala, Managing Director - Highland Group says, "Alchemist will be the only outside entity to acquire land for residential development in our project."

 

 

A spokesperson from Alchemist Township India states that the Group intends to develop golf-course facing apartments and group housing in the two plots they have acquired. The corridor where Kolkata Riverside is located is developing rapidly, with high-speed road connectivity to Alipore actively underway.