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CSE invites EoI from developers for 5-acre New Town plot

Press Trust of India  |  Kolkata 

The ailing Calcutta Stock Exchange (CSE) has decided to develop a 5-acre plot it owns in in the city's fringes and sought expression of interest (EoI) from developers.

The bourse has floated a tender for EoIs from developers either in revenue share or area share basis. The piece of land is at a prime location at the newly developed New Town's Action Area II.

The last date for submission of EoIs has been extended to November 12.

CSE MD & has not been coming to office since October 29 but that will not come in the way of the proposed development plan, CSE sources said.

The tender document says a developer/investor will be selected on the basis of highest additional area (as a percentage of total built up area) offer or highest revenue share (as a percentage of gross revenue from the project) offer in the project over and above the mandatory delivery of 1,00,000 sq ft.

The CSE is seeking to improve its revenue since its own trading activity had been barred by markets regulator citing lack of requisite norms.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 16:30 IST