PS plans services SEZ at Rajarhat

The PS Group today said it aimed to build a service sector special economic zone, spread over more than 250 acres of land near the upcoming IT hub of the city in Rajarhat.

A final decision, after consultation with the state government, might take place within six months, said Pradeep Chopra, director PS Group.

"Currently, we are developing one SEZ in Chandigarh. We are in the early stages of discussion for another in Kolkata .The SEZ should be of minimum 250 acres. We are in the process of identifying and acquiring land," said Chopra.

The group has also lined up a Rs 600-crore investment plan for nearly 22 residential and commercial projects in and around Kolkata by 2010.

Of the nearly 8 to 10 commercial projects in the pipeline, the major projects include an IT park in spread over nearly 4 lakh square feet, and investment of around Rs 100 crore in Salt Lake, sector V.

The residential projects include two joint venture mini township in city outskirts""Narendrapur and Sonarpur.

The Narendrapur project would be set up under the Sherwood Estate banner, a real estate consortium promoted by the PS Group, Heritage Realty Group and Srijan Group.

With more than 1,900 flats and 18 block, the total investment entailed in the project would be close to Rs 200 crore, said Chopra.

The project is expected to be complete by December 2009.

The Sonarpur project, christened as the "Sonar Gaon" will be a joint venture between the PS Group and the Srijan group, and the total investment earmarked is nearly Rs 50 crore. Built in five blocks, the residency will have 168 flats.

Some of the other commercial projects by the group in the pipeline include a 25,000 square feet retail space by the name of PS Glitz. According to a source in the company, the entire space would be leased out to a single retailer. Another office-cum-retail space by the group is expected to come up in Topsia, Kolkata.

This apart, the group is developing smaller housing projects in areas like Behala and Tollygunge.