Sureka Group to step up investment by next year

Kolkata: The Kolkata-headquartered Sureka Group would develop at substantial investment three million sq ft of residential space in and around the city by next year. The total investment by the group, would be Rs 1,000 crore as against the present Rs 500 crore.

Almost 70-80 per cent of the proposed construction would be undertaken by Bengal Park Chambers Housing Development Ltd, a joint venture between the Sureka Group and the West Bengal Housing Board, according to Mr Pradeep Sureka, Managing Director of the company.

Referring to the probable demand-supply gap of 18 million housing units in India by 2010, Mr Sureka said the shortage would primarily be in the low income group (LIG) and middle income group (MIG) segments. “We plan to construct 2,000 dwelling units in the State next year, 50 per cent of which would cater to the LIG and MIG segments,” he said. Nearly, 2,000 residential units were currently under various stages of construction by the group.

Bengal Park Chambers Housing Development, according to Mr Sureka, would set up a housing project, to be named Sunrise Junction, at Krishnamohan in Baruipur (South 24 Parganas) to cater to the the LIG and MIG categories. The project, estimated to cost Rs 30 crore, would be ready by the middle of 2010, he added.

The Sureka group would also invest Rs 300 crore in an integrated township to be set up in and around Kolkata and the process had already started. More than 100 acres of land would be needed, Mr Sureka said. An additional Rs 200 crore would also be invested to set up a global hospital with organ transplant facility, he added.