Although the debate for the renovation of a tea estate into a real estate project, Uttorayon township, a project of Luxmi Group, in partnership with Siliguri Jalpaiguri Development Authority (SJDC) and West Bengal Industrial Development Corporation (WBIDC), and managed by the Ambuja Group, at Chandmoni in Siliguri, has completed two phases of development, and is scheduled to be complete by 2011.
According to Rudra Chatterjee, executive director of Luxmi township Hotel Hindustan International, Kolkata-based five star hotel groups and the Elgin, heritage hotels operational in north Bengal, have been tied in for hotels in the township.
This apart, Neotia Elbit will be setting up a hospital and a City Center mall, which will be ready by 2009.
According to H. Neotia of Ambuja Realty Group, “Most of the flats in the first two phases of the project have been sold out. We look forward to another two phases to be completed in two years.”
The 17.6 million square feet zone will be sixty acres of parkland.
The direct project price of the township is about one thousand crore rupees with ancillary investments likely to be two thousand five hundred crore rupees, claimed Chatterjee.
“In the beginning the project took time to start. There was no precedence of something in this scale. Yet, the West Bengal Government, SJDA and WBIDC have played a important role in motivating this project to a state where it can practically provide the platform for the growth of IT, health and other knowledge networks in North Bengal,” said Chatterjee.