New Town: Natural gateway to south-east Asia Recently an investors’ meet was held by the Government of West Bengal, particularly for the financial sector, following Chief Minister, Mamata Banerjee’s visit to Singapore for inviting all investors to take interest in Kolkata and West Bengal. It was supported by Economic Times and IL&FS as partners and attended by Firhad Hakim,Urban Development Minister of West Bengal and Debashis Sen, Principal Secretary, Urban Development Department,Government of West Bengal and Chairman, WBHIDCO Ltd. D Sen gave a presentation on how Kolkata has changed in all aspects over last three years and the subsequent change in ratings it has witnessed according to Economic Times and other independent NGOs. In New Town, particularly the change has been phenomenal with Ratan Tata, Chairman of Tata Trusts having stated that the development that he has seen is ‘absolutely unbelievable’. Based on a study, Janaagraha said that Kolkata has the number one quality in life in terms of planning, law and order, stability and political democracy. Even in terms of global competitiveness, reports validate that performance of the city has increased by 0.5%. Firhad Hakim, in his inaugural key note speech described how stability was achieved with politically no mandates being lost, all unions being barred from militancy and work culture too having improved. McKinsey global institute has shown that world’s financial sector is heading towards the east. Kolkata with its hinterland of east and northeast India, is an ideal point for financial hub to be established. D Sen mentioned that various bankers and members of the insurance sector attended the event. At the Q&A session, representatives from SBI, Kotak Mahindra Ltd, J&K Bank asked several questions, expressing their desire to visit Kolkata soon. GIC, National Insure, Central Bank of India too might participate in the financial hub which currently has 11 players. Kolkata’s neighbourhood is fast-transforming to keep up with the changing times. World class infrastructure is being developed at New Town, harnessing the total potential to become a smart, green city. A balance between state-of –the –art infrastructure and quality of living is trying to be attained. In the newly developed township, several national and international businesses are making investments. They are involved in various sectors including finance, education, technology and healthcare. Some of the major companies who are building projects in New Town include Dongfeng Motor Corporation, Magus, ITC Limited, TATA Housing, Airtel, Jindal and TATA Motors. A number of frontline developers including DLF, Unitect, Ecospace, Bengal Ambuja and SREI are also set to provide world-class residential and commercial blocks. Wide roads and overbridges, and the proposed monorail project all reflect the planned transport network of the area. VIP road connects airport to New Town, while the green corridor consists of the stretch of trees planted along the major arterial road. New Town also is a thriving IT hub with Cognizant, Genpact and Wipro being some of the famous companies functional in the area. It is also going to be developed as an educational centre with numerous institutions that are set to be located here such as Aliah University, St. Xavier’s and IIT Kharagpur. TATA Medical Centre is already functional and is providing modern medical facilities. For recreational purpose, there is Ecopark- a huge green park offering several water sports. Rabindra Tirtho and Nazrul Tirtha serve as cultural centres. Other malls and hotels also are to be established here. In terms of safety and security, National Security Guard, BSF and other defence agencies are setting up branches here. Facilities such as Ecopark, Rabindra Tirtha, Convention Centre have all added value proportion to life especially enriching the social infrastucture. Vehicle tracking system for waste management, online building plan sanctions system, smart car parking fee, web casting of major public events and sms information are some of the latest technological features that New Town is offering to its residents. India’s first wi-fi zone road connectivity is also going to be installed here which would stretch over 10.5 km. HIDCO has been the main force behind the development of New Town. Its focus has been on providing the latest infrastructure for the establishment of a businesses and financial hub. From the map of the CBD Action Area, it can be observed that the financial hub is located between the existing settlements on either side. On its periphery are major arterial roads on all sides while it is also close to a metro line. While plots lie together in compact blocks, a central open space has been designed at the heart of the hub. Some of the major financial companies that will be located in the area include Shriram Credit, UCO Bank, Union Bank of India, Allahabad Bank and West Bengal Financial Corporation. State Bank of India and Indian Institute of Chartered Accountants have also acquired lands to set up centres in the area. Abhirup Sarkar, Chairman, WBIDFC elucidated, “The simple reason for acquiring the land is because all the basic amenities one would look for are readily available here. You have roads,e lectricity, entertainment and 5 star hotels.” D Narang, Executive Director, UBI said, “Government of West Bengal is setting up an international financial hub in New Town. Infrastructure is very well-developed in the area. We too have taken up land in the financial hub. All these have been done in a very professional manner. The entire process has been very transparent and fair.” Amlan Basu, Chairman, WBFC said, “The financial hub is very attractive investment opportunity for banks, financial institutions and services. It offers world-class infrastructure at very competitive costs.” Source: Urban News Digest
Posted on: Tue, 09 Sep 2014 11:01:45 +0000