The Telegraph
Since 1st March, 1999
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Viability study for investors

With a view to woo private investors, Buddhadeb Bhattacharjee’s government has decided to conduct viability and marketability studies in many parts of the city and its adjoining areas.

“We took some major decisions at the Calcutta Metropolitan Development Authority (CMDA) meeting yesterday,” state urban development minister Asok Bhattacharya said on Friday. The CMDA has engaged a private consultant for the study at West Howrah and Dankuni, where the Indonesia-based Salim Group had shown interest in developing new townships.

“We need a good base before wooing private investment. So, it is not just the Salim Group that we are targeting. The study is being conducted to invite all investors,” Bhattacharya said. The government has already adopted a policy of private-public-partnership in infrastructure.

The Bengal government is also keen on private funds for revamping the Kona truck terminus. “There is also a water park, a stadium and commercial complex, in east Calcutta, and a private market complex in Sealdah, on offer,” the minister said.

The government has made some changes in the CMDA’s land and apartment policies. The new policy, which will come into effect from January 1, 2004, will withdraw the five per cent discount available for one-time payment. “For CMDA land, there will be no difference in the price for commercial and institutional plots,” the minister said.

He also announced that sub-lease and sub-allotment of CMDA land, other than those in Salt Lake, will be allowed. “A 10 per cent deposit fee will be charged for this,” he stated.

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