HM township set for launch

Construction work for the proposed IT township-cum-auto park at Uttarpara in Hooghly, to be developed by real estate developer Bengal Shriram and its foreign partners, is expected to begin in the next two-three months.

Spread over 314 acre, the township will involve an investment of Rs 5000-crore, which will be jointly funded by Shriram Properties, along with US-based Walton Street Capital and Starwood Capital Group Global.

The project was likely to be completed by 2013, said S Venkataraman, director, Bengal Shriram on the sidelines of a seminar on infrastructure organised by the Confederation of Indian Industry (CII) in Kolkata.

Venkataraman said, a 3 km road stretch connecting the township with the National Highway will be build, with an expense of Rs 60 crore.

This apart, the developers were also contemplating a water treatment plant by drawing water from the Ganga, though the plan was yet to be submitted to the government, he said.

In the first phase of the project, residential complexes would be build, followed by an IT SEZ, a school and a hospital, he informed.

"There are a number of IT companies willing to establish offices in the outskirts of Kolkata," said Venkataraman.

Speaking at the seminar, Venkataraman, said, social unrest in the form of bandhs, was deterring investors from setting up their businesses in the state.

He said, erratic development in pockets like Sector V and Rajarhat, without proper infrastructure, could create problems in future.

Venkataraman also said, by giving transferable development rights to the developers, the government could address the infrastructure problems in the state.

Also, the state should unlock large chunks of land in sick public sector units, so that the social unrest could be avoided, he said.