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Indian Real Estate News : Kolkata
Infosys takes possession of land at Rajarhat
Source: The Times of India, Kolkata Nov 21, 2011
IT bellwether Infosys finally took possession of its 50-acre plot in Rajarhat on Friday. The Housing Infrastructure Development Corporation (Hidco) handed over the possession papers to the company with the plot map for drawing up building plans.

Hidco officials said an Infosys team came to inspect the plot on Friday. "The possession paper was handed over to Infosys along with the plot map," said Hidco chairman-cum-managing director Debasis Sen.

"The company will submit the building plans as soon as possible. It plans to start operations in phases from 2013," said Swarup Roy, deputy general manager, IT department (IT promotional cell). This is Infosys’ first investment in Bengal.

Infosys, which provides business technology consulting, IT solutions and IT services, bought the 50-acre plot at Rajarhat's Action Area-III for Rs 75 crore - at Rs 1.5 crore per acre. Late last month, Infosys made full payment for the land. Wipro, the other IT giant which has also taken a 50 acre plot adjacent to Infosys, is to pay its dues soon, officials said.

Last Wednesday, state industries and IT minister Partha Chatterjee had held a meeting with Hidco officials to complete the process of paying compensation to about 39 farmers who gave up their land to Hidco for these plots.

The state is still lagging behind in IT development. Of the $88-billion IT and BPO turnover in the country, Bengal only accounts for $1.5 billion, or 2.6%. And seven big firms that include TCS, Cognizant and Wipro account for 95% of this $1.5 billion. Some 170 small and medium enterprises (SMEs) account for the remaining 5%.
Tag: commercial real estate, kolkata real estate, rajarhat
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