Merlin to build housing complex in Kolkata

Kolkata: Kolkata-based Merlin Group has entered into an agreement the West Bengal Housing Board (WBHB) for construction of a housing project spread over 2.5 million square feet, in Sarsuna, on Diamond Harbour Road in south Kolkata.

The project would be developed as an 'assisted sector' housing complex by a joint-venture company called Bengal Merlin Housing Ltd. It would involve an initial cost of around Rs 20 crore, including cost of land. WBHB will hold 11 per cent stake in the company while Merlin will hold the rest.

WBHB would acquire land for the project and would give speedy clearances and take care of legal formalities involved in it, said Sushil Mohta, managing director of the Merlin Group at a press conference to announce the project, in Kolkata on Tuesday.

He claimed the project would a corporate social responsibility project rather than a profit-oriented development.

The low income group (LIG) and middle income group (MIG) flats in the project would be priced between Rs 4 lakh and Rs 11 lakh, and the high income group (HIG) flats at Rs 13-15 lakh.

However, an increase in price of HIG flats was possible, claimed Mohta. Spread over 12 blocks, the complex will have a total of 200 dwelling units, ranging between 400-1,200 square feet area, with about 42 per cent units in the HIG segment.

The project was due to be completed by 2010. Merlin group also plans to develop similar joint-venture housing projects with the West Bengal government in areas like Barrackpore, Barasat (North 24-Parganas), Sonarpur (South 24-Parganas) and Uttarpara (Hooghly).