Ambuja Neotia Group and Satyaa Homes will jointly deliver the landmark project
KOLKATA, Jan 4 (BNC) ANAROCK Property Consultants' Land Services division today announced the successful closure of a joint development deal for 72 acres in Kolkata's Rajarhat, between Satyaa Homes and Ambuja Neotia Group. This is a significant township deal to be struck in 2020. Ambuja Neotia Group is the development management partner, and the finance partner is HDFC Capital Advisors Pvt Ltd.
Expressing happiness at the deal, Harshavardhan Neotia, Chairman - Ambuja Neotia Group said: "Today customers are looking forward to have 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."
The township, which will encompass plotted developments, villas, villaments and apartments right-priced in Rajarhat will be completed within 5 years.
A prominent micro-market in the north-eastern side of Kolkata, Rajarhat is home to major IT-ITeS companies such as Cognizant Technology Solutions, Tech Mahindra, Tata Consultancy Services, and Ericsson India Global Services. It is thus an important employment hub, which benefits from its close proximity to the Sector V, Salt Lake and the airport.
Soumendu Chatterjee, Director & City Head - Kolkata, ANAROCK Property Consultants said "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% of the housing supply here. Mid-end segment housing accounts for only around 29% of the region's residential supply."
The last major township in Rajarhat was a 100-acre residential project by Unitech called Uniworld. It was completed about ten years ago and is situated next to the Unitech SEZ, which was later acquired by Brookfield and is now known as Candor Tech Park.
Ambuja Neotia Group and Satyaa Homes will jointly deliver this landmark project.