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Kolkata Municipal Corporation To Auction Parts Of CSE's Bypass Land


By pardeep3dec, Section Business
Posted on Mon Nov 12, 2007 at 08:09:34 PM EST

Commenting on the CSE land on Eastern Metropolitan Bypass, CSE administrator Sunil Mitra said the front portion, which encompasses 5 acres, would be auctioned by Kolkata Municipal Corporation with the bourse getting 60% of the proceeds of the land sale.

For the rear portion of the land, which also encompasses 5 acres, CSE would get a compensation from the state government as per the purchase price of the land. CSE had bought the 10-acre plot in 1994 for Rs 9 crore. Accordingly, CSE would get Rs 4.5 crore for the rear portion. Mitra said Hidco has promised to allot 5 acres to CSE in Rajarhat's central business district. "Hidco is likely to charge Rs 4 crore per acre. We will also get another 5-acre plot somewhere near Kolkata," he added.

Source:The Times of India,8th Nov,2007

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