New Town Kolkata

The main objective of development of New town through Housing Department, GoWB was to create affordable housing stock for the general people including EWS, LIG, MIG and HIG at affordable prices. HD, GoWB initially started the activities through its parastatal West Bengal Housing Board (WBHB). After the takeoff of the township, styled as “New Town, Kolkata”, a Special Purpose Vehicle (SPV) was incorporated on 26th April, 1999, pursuant to a Cabinet Decision of the GoWB for formation of a Govt. Company as “West Bengal Housing Infrastructure Development Corporation Limited” (HIDCO) bearing Registration No.21-89276 of 1999 under Companies Act 1956, under administrative control of the Dept. of Housing & Public Health Engineering, GoWB, on the same concept of CIDCO of Navi Mumbai.

Subsequently, Certificate of Commencement of business u/s. 149(3) of the Companies Act, 1956 was issued by Registrar of Companies, West Bengal on 10th June, 1999. In 2012, BRADA (Bhangar Rajarhat Area Development Authority) was dismantled and HIDCO was also declared Planning Authority under West Bengal Town Planning and Country (Planning and Development) Act 1979. This SPV was formed with a single target of developing a modern township of New Town, Kolkata. But prior to the formation of HIDCO in April 26, 1999, the WBHB was entrusted by the HD, GoWB to look after the New Town Project and also to meet all expenses towards Planning & Development. WBHB handed over the land to HIDCO against recovery of cost of such acquisition.

The CBD of the township comprises 449 acres of land mainly for transfer of a major part of the CBD of the old Kolkata to this township. The main objective of HIDCO is to develop New Town as a world class planned township with all basic infrastructure. The financial policy of the project is to develop it in a self-sustained way without much dependence on budgetary provision. A good number of projects within the township including infrastructural development such as Roads, flyover network, electrification etc. are still to be completed. The plan is to accommodate 7.5 Lakh residential Population and 2.5 Lakh floating population i.e., 1 million people in total.