Shapoorji Pallonji to set up Rs 1,500 cr housing project in Kolkata

Mumbai, Apr 10 (UNI) Shapoorji Pallonji&Co. Ltd. plans to set up a Rs. 1,500-crore world-class mass housing project spread over 150 acres in Kolkata, christened SP City.

Designed specially for the middle income group (MIG) and lower income group (LIG) segments and is expected to be completed by mid-2010. The mass housing project will comprise of 20,000 dwelling units in the form of 12,000 one-BHK and 8,000 two-BHK flats, is located in Action Area-III of the upcoming New Town, Rajarhat in the northern surburbs of Kolkata, a release today said.

The project will also comprise of support facilities like two primary schools, corner stores, marketplace, shopping arcade, a mini-hospital and child health check-up centre which will be managed by the Shapoorji Pallonji group for the first ten years.

The company will also provide post-commissioning maintenance at nominal fees to individual flat owner for the first one year on completion of each phase, the release said, adding that ''thereafter, housing units will be maintained by a co-operative society of flat owners.'' Shapoorji Pallonji Vice-President Subir Dey said that a project of such magnitude is going to be a landmark development, and that too, within such a short implementation period. This kind of housing infrastructure will bring an entirely new dimension of living standards to the LIG and MIG category.

Internationall-aclaimed, Singapore-based architect and consultant, Surbana International, will provide the comprehensive design solution for the project.

Shapoorji Pallonji CEO Ramkrishan Sharma said, ''for us, Kolkata is a very important market and this housing venture will be the first-of-its-kind in India and we look forward to develop many more such projects across the country.'' ''The project will provide world-class living standards including pay-by-use facilities like a club with swimming pools, community centre, shopping arcade, provision stores for daily needs, two primary schools, mini-hospital, parking and a sports oval for football and cricket, '' Mr Sharma informed.

Other facilities include sub-soil recharging and solar power for street lighting and other environment-friendly measures like gravity-assisted water supply, including use of cost-effective construction materials and techniques, the release said.

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