Calcutta, Aug. 21: Real estate company DLF will build a Rs 4,000-crore township in Durgapur.

The decision to award the contract to DLF was taken at the Asansol-Durgapur Development Authority (Adda) board meeting on Friday that also gave the nod to a 25-acre IT special economic zone to be developed by Shapoorji Pallonji.

“We have awarded two landmark projects to two national real estate companies. The DLF integrated township project would entail an investment of Rs 4,000 crore in the next four years. The IT park to be developed by Shapoorji would be one the largest in the state with around 18 lakh sq ft,” Adda CEO N.S. Nigam told The Telegraph.

DLF was chosen among 30 companies that had submitted their expression of interest. Its project will be spread across 95 acres in the heart of Durgapur town.

The company will pay Rs 30 lakh an acre for the land, Adda chairman Bansagopal Chowdhury said.

The cross-subsidised housing project, in which the higher segments will bear the burden of the lower ones, will cater to all sections of people.

According to the agreement, 150 plots will be kept aside for Adda. Five hundred flats in the township will be kept aside for the lower income group and 400 for the middle income group.

The township will have large green spaces, wide roads, retail and commercial space and a club.

DLF is already developing a nearly 5,000-acre township and a textile SEZ in Dankuni, two IT parks in Rajarhat and luxury and budget hotels and service apartments in Calcutta.

In the IT park, 14 lakh sq ft will be dedicated to IT and involve an investment of Rs 600 crore, said Debesh Das, the infotech minister.

It will be part of a 100-acre zone specially earmarked for IT projects in the Bidhannagar area.

“Durgapur is fast emerging as an IT hub, the alternative destination to Calcutta for infotech companies,” Nigam said.

After Friday’s board meeting, the Adda chairman had said the authority would seek SEZ status for the IT project from the Centre.