Shapoorji Pallonji & Company on Monday announced it would build a mass housing project for lower-income and middle-income groups. The project cost is estimated at around Rs 1,500 crore (Rs 15 billion).
SPC will build the township in Action Area-III of the New Town Kolkata, also known as Rajarhat, on a 150-acre plot. This project, called SP City, is scheduled to be completed by mid-2010.
The project will have 20,000 dwelling units in the form of 12,000 one-BHK (bedroom, hall and kitchen) flats and 8,000 two-BHK flats with support facilities such as two primary schools, corner stores, a marketplace, a shopping arcade, a mini hospital and a child health check-up centre.
The complex will be managed by the Shapoorji Pallonji group for the first 10 years. SPC will provide post-commissioning maintenance at nominal fee to each flat owner for the first one year on completion of each phase.
Thereafter, flats will have to be maintained by a co-operative society of flat owners. Subir Dey, vice-president, SPC, said in a release that a project of such magnitude was expected to be a landmark development within a short implementation period.
CEO Ramkrishna Sharma said Kolkata was a very important market, and the housing venture for Shapoorji Pallonji would be the first of its kind in India.
SPC aimed to develop many more such projects across the country. Prices would be attractive and quality standards high, said an SPC release.
Surbana International of Singapore was providing the design solutions for the project with a focus on open spaces and balconies overlooking an open green space and a Central water body, play area etc. Sub-soil water recharging and solar power for street lighting will be among environment-friendly measures built into the project.
The green belts within the township will comprise 'green necklace' linking the housing precincts, 'green corridors' alongside roads and 'green precincts' within housing clusters.
The project will have pay-by-use facilities like club, swimming pool, community centre and sports oval.
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