Sale on freehold basis: HIDCO invites bids for allotment of 2.88 acres in ward No. 108

West Bengal Housing Infrastructure Development Corporation Ltd (WBHIDCO) is inviting offers from corporate bodies including joint venture companies and consortiums in e-auction for allotment of 2.88 acre of land in ward number 108 of the Kolkata Municipal Corporation (KMC).

The concerned land of 2.88 acre (11654.95 sqmtr) in Nonadanga Mouza, Chowbaga area will be sold on a freehold basis for residential or commercial projects, or a mix of both. The invite offer said that intending organisations will have to submit their offer with a preliminary project proposal on their proposed use of land under the said land parcel.

Concerning use of land, it was learnt that under the land use development and control plan for KMC, that area can be utilised for residential as well as commercial projects, or a mix of both uses.

The E-auction will be held on March 17 but for clarity on land use and all other issues related to the e-auction process, a pre-bid meeting with the intending bidder organisations will be held at HIDCO Bhaban on February 10. The start price for e-bidding of the plot is Rs 134.06 crore.

Further, the allotment will be made to the bidder bidding the highest bid in such e-auction process provided that the highest bid obtained is higher than the “reserve price” fixed by the government for the plot. Also, once sold, construction should be started within one year which may be extended up to two years, and construction should be completed within 5 years from the delivery of possession of land to the successful bidder after e-auction process.

Some of the key features of this plot include its proximity to an upcoming metro railway station and excellent road connectivity with EM Bypass.