Kolkata Port plans to lease 5 acres riverfront land in Budge Budge for hospitality & commercial development
Syama Prasad Mookerjee Port (SMP), Kolkata is planning to lease about five acres of riverfront land at Budge Budge for recreational, hospitality and commercial development which will cater to the upcoming residential communities of Budge Budge and Maheshtala.
Kolkata Port sources confirmed an Expression of Interest (EOI) has been floated for the project which can be developed by individuals or a group of Indian or international entrepreneurs or companies forming joint ventures with business interest in commercial real estate. The port will be providing approximately five acres of land on the bank of the Hooghly River on a 60-year lease. It is learnt, that the annual reserve rent for the site will be approximately Rs 42 lakh without tax.
The subject site at Budge Budge measuring five acres is located in South 24-Parganas. It is located at an approximate distance of 15 km southwest of Taratala, an important junction in the southwestern part of Kolkata.
It is well connected by Budge Budge Trunk Road, an important thoroughfare that connects Kolkata and its southwestern suburbs (towards Budge Budge and Pujali). The site enjoys approximately 250m frontage on the river.
Sources said the proposed scope of the components for development under this project includes hotels, retail/shopping, restaurants, banquets and convention centres.
According to the port authorities, apart from these uses the developer may propose any other suitable product mix for the site except for residential and warehousing/storage.
Port sources said that with this project in Budge Budge, Kolkata Port is planning to undertake the development of a riverfront land parcel for riverfront beautification and meeting the demand of hospitality, commercial and recreational needs in and around the rapidly urbanizing town in South 24-Parganas owning to its proximity to and accessibility from Kolkata.
On September 11, Millennium Post reported that the Kolkata Port is planning to lease over 20 acres of land in Moyapur, Budge Budge, for a project involving the setting up of a riverside luxury resort, including the redevelopment of its heritage British-era Moyapur Magazine storehouse and the Semaphore signal post premises.
