Buddhadeb Bhattacharjee's government indicated on Sunday plans drawn up to get the joint-sector housing companies involved in developing housing stocks in New Town, Rajarhat, in a more concerted way in the days ahead.

As a first step, Bengal Peerless Housing Development Company will be allotted a five acre-plot in Action Area II in the next few months, housing minister Goutam Deb said while laying the foundation stone of The Axis, a Rs 250-crore multiplex project of Bengal Peerless at New Town.

'We have set up eight joint-sector housing companies that represent a unique experiment in the country. We want them to invest more in Rajarhat,' Deb said.

Apart from the housing companies, a Singapore-based company has been allotted 20 acres in New Town for setting up an IT complex.

Former chief minister Jyoti Basu, Lok Sabha Speaker Somnath Chatterjee and actress Priyanka Chopra were present at the ceremony.

Managing director of Bengal Peerless K.S. Bagchi said the company would construct a 400-apartment housing estate on the allotted land. 'We plan to invest about Rs 60 crore in the new project over the next two years. Work will begin in another two months,' Bagchi said. Over 50 per cent of the flats will be earmarked for the lower and middle-income group.

The Singapore-based firm will set up its IT complex soon.'The project, once completed, will provide jobs to 20,000 professionals,' he said.

Apart from this, the government has earmarked 193 acres in Rajarhat for IT companies, of which Wipro has been allotted 40 acres.

In the government's reckoning, 150,000 jobs will be created in these projects.

Singapore is increasingly showing interest in the booming real estate scene in Bengal, said Speaker Somnath Chatterjee, who had led a recent delegation to the island-nation. 'We have conveyed the inquiries to the Buddhadeb Bhattacharjee government for initiating action,' Chatterjee said.

Since The Axis will take some time for completion, another smaller market complex has been built for the benefit of those who have already moved into the township. It will be inaugurated by mid-June.

The Axis, spread over 4.75 acres, will comprise three blocks. There will be a rooftop tennis academy, of which Bengal Peerless brand ambassador Mahesh Bhupathi will be consultant.