Kolkata News Desk

11 Apr 2026

The Bidhannagar Municipal Corporation has announced the rollout of its online property tax collection system starting April 13, aimed at making tax payments more accessible and reducing reliance on physical counters. The system will allow residents across different wards to pay property tax digitally through the official municipal platform using their assessment details. Offline payment facilities will be introduced in a phased manner in select wards shortly after the online launch. Demand notices for the current financial year are expected to be made available around the same period to support smooth tax processing.Read more

10 Apr 2026

The Enforcement Directorate conducted searches at seven locations linked to Kolkata-based Merlin Group as part of a money laundering probe. The investigation relates to alleged land grabbing using forged ownership documents and raising funds by projecting false ownership claims. Authorities suspect that investors were misled into funding real estate projects built on disputed land. The case is also linked to earlier legal disputes, including a stalled INR 600 crore project and a demolition order in another development. The probe is ongoing, with officials examining financial records and land documents.Read more

Kolkata News Desk

10 Apr 2026

SpiceJet has issued a travel advisory warning of potential flight disruptions at Netaji Subhas Chandra Bose International Airport, Kolkata, due to adverse weather conditions affecting operations. The advisory, released in the past week, highlighted the likelihood of delays and schedule changes for both arrivals and departures. Thunderstorms, rainfall and reduced visibility have impacted aircraft movement and air traffic management at the airport. Passengers have been advised to monitor flight status regularly and allow additional time for travel. The development reflects recurring weather-related operational challenges at key aviation hubs, particularly during periods of unstable atmospheric conditions.Read more

09 Apr 2026

Nexus Select Trust has acquired Diamond Plaza in Kolkata for INR 347.5 crore as part of its strategy to expand its retail real estate portfolio. The transaction, approved by the board of its manager entity, involves the purchase of the asset from Super Diamond Enterprises after a restructuring exercise. The mall has a gross leasable area of around 2,44,000 sq ft. The deal is expected to close in the coming months, adding to the REIT's existing presence across key urban markets in India.Read more

08 Apr 2026

Minor Hotels has signed a management contract to operate a luxury Anantara-branded hotel at the upcoming World Trade Centre (WTC) in Salt Lake, Kolkata, marking its first urban Anantara property in India. The hotel, part of a joint venture between Aryan Realty and the Merlin Group, is scheduled to open in 2032 with an estimated development cost of INR 200 crore for the hotel component. The property will feature around 170 rooms and suites, two restaurants, a rooftop specialty restaurant, a ballroom, spa, gym and swimming pool. The WTC project, Eastern India's first, spans 11 acres of mixed-use development including Grade A office and retail space, with a total estimated project cost of INR 2,400 crore. Minor Hotels plans to expand its presence in India to 50 properties over the next decade.Read more

Kolkata News Desk

02 Apr 2026

The New Town Kolkata Development Authority has taken stricter action against unauthorised commercial activities operating from residential buildings in New Town. Multiple property owners have received stop-operation notices for running guest houses, hotels, and similar establishments without approvals. The authority has warned of further action, including closure, if violations continue. This move follows earlier efforts to regulate misuse of residential spaces, address safety concerns, and ensure adherence to planned development norms, as such violations have been increasing steadily across the township.Read more

31 Mar 2026

DLF Limited has completed the sale of its IT/ITeS special economic zone (SEZ) project and an adjoining 17.75-acre land parcel in Kolkata to entities of the Srijan Group for a total consideration of INR 710.23 crore. The transaction includes the transfer of DLF TechPark II and vacant land through separate group entities of the buyer. The deal, announced earlier, aligns with DLF's strategy to monetise commercial assets and recycle capital. The divestment reflects continued consolidation in commercial real estate portfolios and the role of regional developers in acquiring income-generating assets and land parcels for future development.Read more

30 Mar 2026

The Kolkata Metropolitan Area (KMA) recorded 4,974 residential property registrations in February, marking a 63 per cent increase over the previous month, according to data from Knight Frank India. The growth reflects a rebound from a low base in January, while registrations remained marginally lower by 1 per cent year-on-year. Mid-sized apartments between 501 and 1,000 sq ft accounted for 58 per cent of total transactions, indicating a shift towards value-driven housing. North and South Kolkata together contributed around 75 per cent of activity, with Rajarhat, Dum Dum and Barasat emerging as leading micro-markets. The data covers both primary and secondary residential transactions.Read more

26 Mar 2026

The Supreme Court has criticised the West Bengal government for delaying work on the Kolkata Metro's Orange Line, particularly at the Chingrighata crossing. The court refused to accept the state's request to defer construction, stating that infrastructure projects cannot be stalled due to administrative or political reasons. It directed continued monitoring by the Calcutta High Court to ensure progress. The delay has been linked to traffic management concerns and lack of coordination. The corridor is important for connecting south Kolkata with Salt Lake Sector V, a key commercial and IT hub.Read more

Kolkata News Desk

12 Mar 2026

The Kolkata Municipal Corporation (KMC) has sealed several commercial establishments in central Kolkata as part of an enforcement drive to recover unpaid property taxes from defaulting property owners. In one such operation, civic officials sealed 15 shops at Shreeram Arcade near SN Banerjee Road after issuing distress warrants to traders who had failed to clear outstanding tax dues. Municipal officials indicated that property tax arrears of around INR 5.5 crore remain pending from the shopping complex alone. Some traders reopened their establishments after making partial payments during the drive, while the civic body has set a deadline of 31 March for full settlement of dues. The enforcement action forms part of a broader municipal effort to improve property tax compliance among commercial establishments in key trading areas of central Kolkata.Read more

11 Mar 2026

The Calcutta High Court has cancelled the bail granted to a builder in a cheating and criminal breach of trust case related to a redevelopment dispute in north Kolkata. The court found that the magistrate court's bail order issued in 2018 had serious procedural defects, including lack of proper authentication and failure to consider the complainant's objections. The case involves an elderly tenant who alleged that the developer stopped paying displacement rent and failed to provide the promised flat after redevelopment. The High Court also ordered police protection for the complainant and recommended improved judicial training on recording court orders.Read more

09 Mar 2026

Warehousing leasing activity in Kolkata declined 30% year-on-year in 2025 to 4.6 million sq ft from 6.5 million sq ft in 2024, largely due to elevated land prices and constrained availability of Grade A facilities, according to a report by Knight Frank India. Despite the drop in transactions, the consultancy noted that the city's logistics market remains structurally strong, supported by infrastructure improvements and evolving occupier demand. Third-party logistics (3PL) and e-commerce continued to drive demand, while the manufacturing sector increased its share of leasing activity. Dankuni remained the dominant warehousing cluster, accounting for the majority of leasing activity due to its strategic connectivity and established logistics ecosystem.Read more

Kolkata News Desk

05 Mar 2026

The Kolkata Traffic Department has approved two new authorised autorickshaw routes to enhance last-mile connectivity and commuter mobility across key neighbourhoods, officials said in the past week. The new routes will link Babu Bazar with Mominpore and Rajabazar with Topsia, aiming to provide structured, regulated feeder services to supplement existing bus and metro corridors. The initiative comes amid rising travel demand in the dense central and eastern sectors of the city, where informal autorickshaw services have long operated without formal routes, contributing to congestion and safety concerns. Authorities indicated that the new links will be integrated into the city's traffic management plans, with designated stops, fare guidelines and operational oversight to ensure orderly services and improve commuter experience. The move underscores ongoing efforts by civic planners to improve urban mobility through regulated intermediate public transport in Kolkata's mixed-mode transport environment.Read more

27 Feb 2026

Apeejay Surrendra Park Hotels Ltd is expecting to generate around INR 350 crore from a serviced residence project on EM Bypass in Kolkata, which will be used to fund the construction of a new luxury hotel in the city. The mixed-use development is being undertaken in partnership with Ambuja Neotia Group and marks the first collaboration between the two Kolkata-based groups. Spread across 3.35 acres of land owned by Apeejay Surrendra Park Hotels, the project will comprise a 69-unit serviced residence development alongside a 218-key luxury hotel. Both components are targeted for completion by 2030. Company executives said the residential monetisation strategy would help reduce the capital burden associated with developing large hotel assets in premium urban locations.Read more

Kolkata News Desk

26 Feb 2026

Syama Prasad Mookerjee Port, Kolkata has launched a major INR 117.5 crore project to renovate its historic bascule bridge at the Kolkata Dock System. The upgrade aims to strengthen cargo evacuation, enhance road and maritime connectivity, and extend the bridge's lifespan. The bridge, nearly six decades old, will see modernisation of its electro-mechanical and structural systems. The central government has provided INR 40 crore under the Sagarmala Scheme, and the project is expected to be completed by May 2027, ensuring smoother cargo and traffic movement in the region.Read more

24 Feb 2026

Balgopal Commercial Ltd has approved the purchase of a land parcel in Kolkata for INR 6.5 million, according to a recent regulatory update. The decision was cleared by the company's board and disclosed to stock exchanges in the past week. While specific details such as the size and exact location of the land were not disclosed, the acquisition signals the company's continued interest in expanding its asset base. The development comes at a time when real estate activity in Kolkata is witnessing steady traction across both residential and mixed-use segments.Read more

24 Feb 2026

Eden Realty Group has launched Eden Devprayag, its first premium riverfront project in Kolkata, as part of a larger INR 5,000 crore plan for riverside residential, retail, hospitality, and commercial developments. The township offers luxury residential towers, a Banaras-style Ganga ghat, a podium club, and terrace amenities with panoramic views. Designed with climate-responsive architecture, green spaces, and water features, it combines urban connectivity with riverfront serenity. Additional projects include a G+18 mass housing development on Kona Expressway and a South Kolkata bungalow project. The group focuses on sustainable, well-being-oriented urban living.Read more

Kolkata News Desk

20 Feb 2026

Eden Realty Group has announced a comprehensive INR 5,000-crore investment strategy for residential, commercial and hospitality projects in West Bengal to be executed by 2030, signalling a marked expansion of its portfolio along the Hooghly riverfront. Central to the plan is a premium riverside residential development in Shalimar, Howrah, comprising more than 1,000 homes in five towers with an estimated INR 2,000-crore outlay. For the first time, the group is entering the hospitality sector with five luxury hotels totalling approximately 600 rooms at key locations including Kolkata, Howrah, South 24 Parganas, Raichak and Budge Budge. The first 80-room property is planned on a 2.3-acre parcel leased from the Syama Prasad Mookerjee Port, while a larger 300-room hotel is anticipated on a 20-acre leased site at Garden Reach. Discussions are underway with Indian and international hotel operators to manage the new properties, though none have been finalised. INR-funded investment figures reflect the company's commitment to enhancing urban living and tourism infrastructure in the region while broadening its presence in both residential and hospitality segments.Read more

13 Feb 2026

Kolkata witnessed a sharp 239 per cent year-on-year rise in Global Capability Centre (GCC) leasing in 2025, according to property consultancy Cushman & Wakefield. GCC gross leasing in the city increased to 0.51 million square feet (MSF) in 2025 from 0.15 MSF in 2024. GCCs accounted for 30 per cent of Kolkata's total office leasing of 1.71 MSF during the year, up from 9 per cent in the previous year. While overall volumes remain modest compared to record pan-India GCC leasing of 29.3 MSF in 2025, the data signals strengthening market depth and rising talent-driven demand. IT-BPM firms led sectoral demand, and EMEA-headquartered companies emerged as the primary occupiers.Read more

12 Feb 2026

Vivriti Asset Management (VAM), a mid-market private credit-focused Alternative Investment Fund (AIF) manager, has outlined plans to achieve a 25&30% compounded annual growth rate over the next five years, citing strong demand for specialised debt solutions. The firm, which manages nearly INR 5,000 crore in assets, intends to double its fundraising from the Kolkata market by FY27 as part of a broader push in Eastern India. With the domestic debt AIF market estimated at INR 2&2.25 lakh crore and Kolkata's market valued at around INR 15,000 crore, VAM sees significant potential among high-net-worth individuals and family offices seeking yield with lower volatility than equities. The firm is also preparing to launch a INR 3,000 crore Diversified Bond Fund-Series III in 2026.Read more