The CII Conference on Unlocking Potential-Time To Transform was organized recently in Kolkata.

The keynote address was delivered by Janab Firhad Hakim, Hon’ble Minister-in-charge, Departments of Urban Development and Municipal Affairs, Housing, Transport & Hon’ble Mayor, Kolkata Municipal Corporation. He said that the real estate sector has shown a remarkable turnaround after the first wave of the pandemic.

This is due to the cooperation of the government in terms of a 2% exemption in stamp duty and a 10% exemption on circle rates of land and property.

He also said that the Kolkata Municipal Corporation (KMC) has extended assistance in terms of a higher  Floor Area Ratio (FAR), the minimum time for issuance of NOCs, online submission of plans, etc., and the Ease of Doing Business model has been made smooth by KMC.

Mr. Debasish Sen, Chairman & Managing Director, HIDCO spoke of FAR in the Fintech Hub in Newtown and elaborated on proposed vertical cities, interstate bus terminus, and light rail transit concepts. He also said about the Alipore Area Development project.

Mr. Alapan Bandyopadhyay, Chief Advisor to Hon’ble Chief Minister of West Bengal,

Mr. Sushil Mohta, Chairman, Merlin Group, and President, Credai West Bengal and Chairman, The Task Force on Housing and Construction, 2021-22, CII, East, Mr. N Murali, CMD, Shriram Properties, and Mr. Dheeraj Agarwal, MD Investments, Indospace Capital Advisors and others graced the initiative.

The initiative chaired by Mr. Sushil Mohta, Chairman, Merlin Group, brought together industry experts, key decision-makers in the state government, top-notch global consultants, and major real estate companies to share their thoughts on the opportunities that exist today and in the future.

Priyanka Dutta