New Town: HIDCO seeks environmental clearance for its vertical city project

Kolkata: West Bengal Housing Infrastructure Development Corporation (WBHIDCO) is learnt to have applied for environmental clearance for its vertical city project in New Town that will cater to fintech companies.

The proposed project, which includes the construction of a G+27 building that will house fintech companies and start-ups, has been sent to the Pollution Control Board for environmental clearance. The roughly Rs 160 crore project will be located in the Central Business District area of New Town.

It was learnt that the project will need to get several clearances before it is executed. Apart from environmental clearance, it will also need to get clearance from civil aviation authorities pertaining to the maximum height of the structure.

The concept behind creating such a vertically tall building was maximum space for accommodation while occupying the minimum cover area.

It was hence decided that a vertically tall building will be more suitable than a horizontally spread structure. The project will have a built-up area of 31252 sqm, it is learnt.

Further, such a plan is being executed as according to an official, HIDCO wants to showcase New Town as the Singapore of Kolkata. Singapore is much known for its skyscrapers. The vertical city will also have residential accommodation, apart from commercial spaces. The residential section will start from the 11th floor and extend to the 28th floor. Other facilities conceptualised are a clubhouse and a sky deck. The building will also have a food court.

The land for the project won’t be handed over to the developer but instead, HIDCO is seeking to enter into an understanding of sharing marketing risk where investment will also be made by a private firm or real estate developer.