The Kolkata Port Trust is likely to appoint within a week a consultant to draw out a comprehensive plan for freeing up and urbanising more than 300 acres of prime land in Kolkata estimated to cost between Rs 10,000 and Rs 12,000 crore.
Senior KoPT officials told on Saturday that the planned development would replicate the model being followed in Mumbai to unlock 1,800 acres of real estate on the city’s eastern waterfront. The total amount of port land to be freed up for development in Bengal will be 1,000 acres, valued at Rs 18,000- 20,000 crore.
KoPT has 2,000 acres of land in and around the city and in Haldia. This property can be divided into three types: entirely operational, semi-operational and non-operational.
KoPT consultant chosen, to be named in a week KoPT chairman Vinit Kumar, speaking on the sidelines of a logistics symposium organized by the Confederation of Indian Industry, told that the consultant had been chosen for identifying the quantum of non-operational land, but its name would be announced a week later.
“We are now in a position to appoint a consultant within a week to identify all the non-operational land. We will appoint another consultant later for waterfront development,” he added.
State finance and industries minister Amit Mitra, who was at the same CII event, said he had sounded out Union surface transport and shipping minister Nitin Gadkari on the issue and the latter had evinced interest. “We may have a logistics hub and other things,” Mitra said.
About 1,800 acres, part of Mumbai’s eastern waterfront, is set to be developed; the land is likely to accommodate a mix of port operations, as well as space for business, office, commercial and retail activities, entertainment, community projects and convention centres.
A clearer picture of how Kolkata’s project shapes up will be available in six months. “There may be a logistics hub and a tourism complex among other things. But some of our nonoperational land in the Hyde Road-Taratala belt was given on lease earlier. All this will have to be taken into account,” Kumar said.
KoPT has large land holdings in areas around Burdwan Road, Remount Road, Strand Road, Chetla and Kidder-pore, most of it being prime real estate.
Pioneer Property Management chairman and managing director Jitendra Khaitan estimated that the price of these land parcels could be between Rs 15 crore and Rs 75 crore per acre, depending on the location.