150 acres of mill land sold in Kolkata | INRnews
Kolkata, India, September 22, 2007 - In a move welcomed by the real estate industry, ailing public sector firm National Textile Corporation (NTC) has sold 150 acres of mill land in Kolkata for residential and commercial real estate redevelopment.
The land from nine mills located mainly in Hooghly and North 24 Parganas districts will bring much needed supply to the Kolkata real estate market. Purchasers include the Happy Group of Companies which bought four mills, Sugam Park Group which acquired two mills, and Forum Projects and Paharpur Cooling Towers with one mill each. A four-acre campus in Lake Town, sold earlier, went to a Hyderabad firm.
The state government has allowed the conversion of industrial land for residential or commercial purposes.
By INRnews Correspondent