Kolkata: LAND rates for big ticket IT ventures have scaled a new peak in Kolkata's Tech town, Salt Lake. In one of the biggest city property deals in recent times, a consortium of South City Projects and Merlin Group has shelled out a whopping Rs 143 crore to KMDA to acquire a prized 4.3-acre plot in the Salt Lake Electronic Complex (Saltec) to develop an IT logistics center. This pegs the deal size at an unprecedented Rs 33.33 crore per acre. Government sources confirmed that it's the highest payout for project land in north 24 Parganas,which is a reflection of booming reality prices for IT projects.
The South City-Merlin deal supersedes the Rs 27-crore per acre shelled out by DLF Hilton for its city hotels. And it is merely a shade below the Rs 33.81-crore per acre that Dubai-based Emaar MGF forked out for a 6.24-acre-plot on the EM bypass to set up premium hotels.
Visit http://www.zameen-zaidad.com/
Courtesy: ET March 9, 2008
Comments(0)