TCS Picks Up 20-Acre Land in Kolkata's New Town Through 99-Year Lease for ₹94 Crore

Mumbai, April 10: The West Bengal Housing Infrastructure Development Corporation (WBHIDCO), the state-run nodal agency responsible for developing New Town as a planned urban and technology hub, has allotted the land to the IT services company.

Transaction Details

Plot allotment date: March 22, 2023
Agreement execution date: January 9, 2026
Lease term: Over 99 years
Consideration: ₹94 crore
Land use: Exclusively for commercial office use or IT/IT-enabled services (IT/ITES) sector

Development Timeline

TCS is required to complete construction and commence commercial operations within 36 months from the date of allotment.

Strategic Significance

The acquisition underscores TCS's continued expansion in eastern India, particularly in Kolkata's emerging New Town micro-market, which has been positioned as a key technology and business district. The Bengal Silicon Valley Tech Hub is being developed as a flagship IT cluster to attract large domestic and global technology companies.

Why New Town?

New Town has steadily gained traction as a preferred destination for IT and office occupiers, supported by:

Planned infrastructure
Proximity to the airport
Availability of large, contiguous land parcels (constrained in more established parts of Kolkata)

TCS's Presence

TCS already has a significant presence in Kolkata. The latest land acquisition is expected to further strengthen its delivery capabilities and workforce capacity in the region.