Kolkata stalls ease as 60% of halted projects slated for swift approval

Around 60% of the nearly 600 Kolkata housing projects under municipal review are expected to get clearance within days, with most of the rest cleared by mid-August.

After the Kolkata Municipal Corporation halted construction on high-rise projects pending revalidation, CREDAI West Bengal president Sushil Mohta announced that roughly 60% of the nearly 600 affected developments are set to obtain clearance within days, with the remainder expected to be approved before August 15. The scrutiny was triggered by the collapse of a warehouse in Taratala and targets approvals issued under the previous municipal administration.

A technical committee has already cleared about 330 projects, which now await a decision from a high-level committee following a meeting with Chief Minister Suvendu Adhikari. Mohta highlighted the government's rapid progress and the inclusion of time-bound allowances for minor deviations. However, about 120 developers have failed to submit required documentation, and roughly two dozen are likely to receive notices for serious flaws, jeopardizing their clearance. The real-estate sector, contributing roughly Rs 7,000 crore to the state exchequer and supporting nearly 50 lakh jobs, could see construction activity resume, benefitting the broader supply chain.