Ambuja Neotia & Satyaa Homes to Develop 72-Acre Kolkata Township
Developer Ambuja Neotia Group has forged an agreement with Satyaa Homes to develop a 72-acre land parcel in Kolkata’s Rajarhat area that will result in a large plotted and villa township. Ambuja Neotia Group is the development management partner and the HDFC Capital Advisors Pvt Ltd the finance partner.
“We are delighted to partner with Satyaa and HDFC to do this plotted development township in Rajarhat. Today customers are looking forward to having a small home of their own on a freehold property where they can have a private patch of green. This is more so in the post-pandemic world,” Ambuja Neotia, Chairman, Harshavardhan Neotia said.
The deal was forged by ANAROCK Property Consultants’ Land Services division.The township, which will encompass plotted developments, villas, villaments and apartments in Rajarhat will be completed within five years.
A prominent micro-market in the north-eastern side of Kolkata, Rajarhat is home to major IT-ITeS companies like Cognizant Technology Solutions, Tech Mahindra, Tata Consultancy Services, and Ericsson India Global Services, among others. It is thus an important employment hub, which benefits from its close proximity to the Sector V, Salt Lake and the airport. “This deal is well-timed aligning with the renewed aspirations in Kolkata for quality homes in superlative settings.
Rajarhat’s residential sector offers options across all budget segments but the affordable segment is predominant, accounting for nearly 54 percent of the housing supply here. Mid-end segment housing accounts for only around 29% of the region’s residential supply.