NEW DELHI: Shriram Properties (SPL) through its subsidiary Bengal Shriram Hitech City (BSHCPL), has amicably resolved its long-pending commercial dispute with the government of West Bengal.
It has resolved the issue by conveying 42.37 acres of land at Uttarpara, West Bengal. “With the execution and conveyance of the land, BSHCPL stands fully discharged of its obligations in this matter,” the company said.
The company’s land parcel in Kolkata spans 314 acres and it has so far utilized 48 acres for development of its ongoing projects that aggregate to around five million sq ft of development.
SPL plans to pursue new projects involving five to six million sq ft of development with potential gross development value (GDV) of ₹3,000 crore over the next five years.
In addition, the company will also monetize the remaining land area/FSI in the foreseeable future.
