Eden Realty Ventures Private Limited, led by US-based Indrajit De in collaboration with London-based REIT Asset Management is planning $20 million investment in two mini-townships at Bonhooghly in north and Maheshtala in south in greater Kolkata area in the next three years.
Along with two projects in Real Estate Kolkata , REIT, the London-based real estate management trust, owns $6.8 billion worth assets in Europe is operating its projects at Pune also which is a 100 percent FDI.
The two projects in Kolkata might be the highest cash investment in the form of FDI by any foreign company on real estate in the state.
Eden Realty managing director Sachchidanand Rai said,"We will be giving about 800 flats free to the equal number of refugee families living there now in a deplorable state. The flats would be much bigger than they are living now and they would also be provided open parking space for 200 cars besides community facilities like club, gym, treated water, good sewerage. While 6 acres would be for rehabilitation with not even stamp duty fee, the remaining 12 acres would be commercially developed with 25 tall buildings offering 1476 flats. We will also beautify the
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