Nearly 60% of 600 real estate projects under review in Kolkata are on track to receive approval shortly, following a thorough scrutiny prompted by safety concerns, with the remainder expected to clear before the August 15 deadline, according to CREDAI West Bengal.
About 60% of nearly 600 real estate projects under review in Kolkata are expected to secure clearance within days, with most of the rest likely to be approved before an August 15 deadline, CREDAI West Bengal president Sushil Mohta said on Thursday.
The scrutiny was introduced by the Kolkata Municipal Corporation after the collapse of a warehouse in Taratala, which prompted a mandatory revalidation process for projects above four storeys. The checks effectively halted work on many developments that had been approved under the previous Trinamool Congress administration, leaving builders waiting for fresh technical and higher-level sign-off.
Mohta said roughly 330 projects had already cleared the technical committee and were now awaiting the final stage of approval. He said the state government had made “significant progress in a short time” and welcomed the idea of time-bound undertakings for minor deviations, arguing that such an approach could help restart stalled sites while keeping projects compliant. Sources cited in local reports said about 120 projects had still not submitted the required forms, while around two dozen were likely to receive notices over flaws and would probably not be cleared.
The industry body has been pressing for broader policy changes as well. In June, CREDAI West Bengal urged the state to scrap urban land ceiling provisions and simplify development rules, arguing that reforms would support larger townships, housing schemes, commercial hubs and IT parks. In July, the civic body also signalled that labour and water-use compliance would be scrutinised before high-rise approvals were granted. CREDAI says the real estate sector draws about Rs 20,000 crore in annual investment, contributes roughly Rs 7,000 crore to the exchequer and supports about 50 lakh livelihoods.
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