DLF to invest Rs 1000cr in West Bengal

DLF Ltd has earmarked an investment of more than Rs 1,000 crore for developing commercial projects in West Bengal over the next two to three years.

The real estate major has announced setting up its second IT park in Rajarhat action area II near Kolkata with an investment of Rs 700-crore.

Spread over 25 acres of land, the park will have 2.5 million sq ft of IT/ITES workspace, apart from service apartments and retail space. The second IT park will be complete in the next two to three years, with the first phase likely to operational by the end of this year.

"We believe that our upcoming IT Park will become an important part of the new IT corridor at New Town Rajarhat, and at the same time will generate 40,000 jobs, directly or indirectly." said A S Minocha, chairman DLF Commercial Developers Ltd.

Major ongoing projects of the company include integrated townships at Durgapur and Dankuni, two IT parks at Rajarhat, a shopping mall and three hotels including a 600-room Hilton on Kolkata's Eastern Metropolitan Bypass.

The 4,840-acre Dankuni township project""the biggest project of DLF in Bengal-- alone will involve an investment of Rs 50,000 crore..

The first DLF IT park at Rajarhat action area I is spread over 1.3 million sq.ft, and involved an investment of around Rs 400 crore.

The complex has three independent towers and a retail complex.

According to rough estimates, DLF is developing real estate projects on around 615 million square feet, excluding the share of joint venture partners, across India.

Out of this, the company estimates around 245 million square feet area to be in super metros like Delhi and the NCR region and Mumbai, while 205 million square feet in the metro cities of Chennai, Bangalore and Kolkata.