New Town, situated on the North Eastern Fringes of Kolkata and is fast emerging as one of the India’s latest and fastest-growing planned new cities, is planning to achieve vertical growth by allowing mixed development in New Town to achieve the platinum green city tag by the Indian Green Building Council. In the concept of mixed development residential units are allowed to be built within commercial establishments.
In addition to the development of Fintech Hub, WB HIDCO has decided to develop a Vertical City also to accommodate Retail, Commercial, Residential, etc. activities befitting a City on a 4 acre-plot adjoining the Fintech Hub complex in the CBD of New Town, Kolkata.
Fintech is a dynamic segment of the financial services sector that is gaining significant momentum. In recent years, investors have invested billions in this Fintech sector. West Bengal Housing Infrastructure Development Corporation Limited (WB HIDCO) is implementing a Fintech Hub Project in New Town on 80 Acres of prime land within Central Business District (CBD). Banks, Financial Institutions, Insurance Agencies, Mutual Fund Dealers etc, would be the major users of the Fintech Hub facilities. Associated IT Infrastructures are also likely to develop their base within the Fintech Hub complex.
An Eco-tourism project covering 480 acres (more or less) of land, a Silicon Valley Project comprising 200 Acres of land, Biswa Bangla Convention Centre, TCS & SBI Management Institute and a 5-Star Hotel are located in close proximity to the Fintech Hub area.
about vertical city
The Vertical City structure will be a land mark building in the New Town, Kolkata. The Vertical City would be developed as a unique world class facility with futuristic concept and would capture the aspiration of HIDCO to build an Iconic structure. Aim is to ensure that the building stands above the rest of the adjoining buildings (without violating Civil Aviation height restrictions) and would have visibility from a long distance. It will be an Architectural Marvel and would have world class facilities. The Architectural features and the planning would conform to the Urban Scape of the area including adjoining land uses, development norms, rules and regulations applicable for such development in New Town. The Vertical City itself would be like a Fintech City accommodating all the related facilities. At least 25% of the Commercial Space within the City is to be reserved for Fintech purposes.