KoPT Proposes to Lease Out Land for Township Plan

The Union Cabinet is most likely to give permission to Kolkata Port Trust (KoPT) to lease out land for townships on a public private partnership (PPP) mode. The bidding will be opened once the KoPT created a township policy as like Mumbai Port Trust.

Reportedly, almost 420 acres of prime land in Kolkata was announced to be given for leasing out to any realtors. The leasing out will be only for commercial purposes for the span of 30 years. However, KoPT has proposed to lease out the property for even residential purposes but 99 years of period which will attract many realtors.

The eventual plan of this bid is to raise KoPT pension fund which will be served to almost 22,500 pensioners. There are various plots, located in the prime area of Kolkata, considered to be under township development that are Portland Park Quarters Complex, Chetla, Remount Road Quarters Complex, Taratala Labour Colony, New Howrah Bridge Quarters Complex and Brooklyn Quarters Complex. As of now, 90 plots are offered to bidders.

“Of the 90 plots, we received bids for 69. This shows that there is demand for commercial plots as they are strategically located,” says Santanu Mitra, OSD (Land), KoPT.

KoPT owns 4,576 acres in Kolkata and 6,367 acres in Haldia out of which 2,080 acres of land is used for port activity and 1,780 acres is already leased out in Kolkata whereas in Haldia, 2,100 acres of land is used for port activity and 2,253 acres have been leased out.

Source: ET Realty

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