Calcutta Riverside

Calcutta Riverside is a satellite township development across 262acre being developed by Riverbank Developers Pvt. Ltd. in joint venture with Bata India Limited planned on the banks of the Hooghly River in Kolkatain South 24 Parganas district under Maheshtala Municipality, India. Riverbank Holdings the operating company has finalised a funding of Rs 117.60 crore for the IT SEZ portion of this project on the outskirts of Kolkata.Yatra Capital Ltd will invest the funds in the IT SEZ component of the Calcutta Riverside project in lieu of 50 per cent equity stake in the SEZ. Spread over 25acre, the IT SEZ will have a built-up area of 21.92 lakh sq.ft. This is a joint venure of Riverbank Holdings Private Ltd. and Bata India Ltd and KMDA. .Calcutta Riverside is a mixed-use development with high-end residential communities around river, golf course and lakes. It has amenities including an IT park within 25acre SEZ, a ‘Crowne Plaza’ 200-room hotel with 50 service apartments overlooking the river, a retail mall with Big Bazaar and Hometown anchors by Future Group, a multi-specialty hospital with diagnostic center, a school, a 9-hole golf course, a large sports and recreation club, an exclusive golf club; and a 700-metre-long riverfront promenade with fun retail and a marina.The 1,400-crore Batanagar rejuvenation project and The Rs 150-crore “international, four-star deluxe” resort is under construction. Holiday Inn is owned by the UK-based InterContinental Hotels Group (IHG), which licences it out to franchisees and third parties who operate hotels under management agreements. With an 800-bed multi-speciality hospital also tied up with the Asia Heart Foundation, and international alliances for a “knowledge village” being completed, the contours of the 256.94acre Batanagar redevelopment are now in place. Implementing Calcutta Riverside is in the process of tying up with Dulwich College, London, and Nanyang Technological University, Singapore, among others, for the knowledge campus.