SPL returns 42 acres Uttarpara land to Bengal govt
Times of India | 13 February 2026
Kolkata: Shriram Properties Limited (SPL), a leading mid-market and mid-premium residential developer, through its subsidiary Bengal Shriram Hitech City, amicably resolved its long-pending commercial dispute with the state govt by returning 42 acres of land in Uttarpara.
Shriram bought the land from Hind Motors in late 2007 through a tripartite agreement, with the state as a party along with Hind Motors. Sources in Shriram claimed that it went to court, challenging the state demand of Rs 250 crore, which was originally supposed to be paid by Hind Motors.
"With execution and conveyance of the land, BSHCPL stands fully discharged of its obligations in this matter. This strategic resolution now enables the company to accelerate development and sharpen focus on value unlocking from this large land parcel in Kolkata," it added.
The company's land parcel in Kolkata spans 314 acres, and it has so far used 48 acres for development of its ongoing projects that aggregate to around 5 million square feet of development, 80% of which is sold already. The company is now left with 224 acres.
It added that the group plans to pursue new projects, involving 5 million to 6 million square feet of development, with potential gross development value (GDV) of Rs 3,000 crore over the next five years. In addition, the company will also monetise the remaining land area in the foreseeable future, unlocking significant incremental value for the company.
Gopalakrishnan J, CEO of Shriram Properties, said, "We are pleased to have amicably resolved the long-standing commercial differences with the state govt."