State to make Rs 180 crore from sale of tram depot land RDB-Belani consortium has bought the plot in Tollygunge

KOLKATA: The state transport department has bagged Rs 180.72 crore for a 241- cottah plot at Tollygunge tram depot that is to be leased out for 99 years. “We have got a good offer. It is well above the reserve price for the excess land lying at the Tollygunge tram depot. The difference between the highest bidder and the second highest is Rs 30 crore. The third bidder quoted less than the reserve price,” transport secretary Alapan Bandopadhyay said on Monday, hours after opening the bid. However, tenders would be invited for the 59.33 cottah land plot at Belgachia depot yet again, as all the bidders quoted below the reserve price. T he de par tment is also going to allow construction above the existing Calcutta State Transport Corporation (CSTC) bus depots at Garia, Thakurpukur and Sarsuna and CTC tram depot at Gariahat. Of these, the department hopes of make good money from the Gariahat and Thakurpukur plots. The leasing out of the Tollygunj depot’s excess land has acted as a huge morale booster for the transport department that had been trying since 2013 to earn money out of the surplus land at the depots in order to revive the Calcutta Tram Company (CTC). Last year, CESC bought 49.16 cottah of CTC land for Rs 27.73 crore available at three depots – Galiff Street, Kidderpore and Kalighat. But this is their biggest success, as the department got Rs 75 lakh per cottah from the Tollygunge land plot, while the average price for the three plots CESC bought last year was Rs 56 lakh per cottah. While the RDB-Belani consortium bagged the Tollygunj plot, the Surekha and Merlin consortium was the second highest bidder. Sapoor-Palonji’s bid was below the reserve price. Asked why their consortium placed the bid so aggressively – about 13 lakh per cottah above the nearest competitor – RDB-Belani consortium’s Nandu Belani said that he hopes that property prices in Tollygunj would see a phenomenal rise in the near future. The prime location – opposite Tollygunj Metro station – is likely to increase buyers’ interest. “We are planning an affordable luxury complex. The apartments are likely to be between 1,200 and 1,800 square feet,” Belani said. The transport department plans to use a big chunk of the money for the Tollygunj land to offer voluntary retirement scheme (VRS) to existing CTC employees (5,300 in payroll) and meeting the cost for retirement benefits. Article :- Hindustan Times , Date 08.09.2015 Source : Hindustan Times