Wipro second campus plan takes a step closer to reality – Times of India

Kolkata: The Housing Infrastructure Development Corporation (Hidco) has handed over the final demand letter of lease rent to IT major Wipro for conversion of the 50-acre plot allotted to the IT major in New Town from leasehold to freehold. This amount was to be paid for the conversion of the land parcel to freehold. The project timeline for Wipro to set up its second campus on the plot (the first campus being in Sector V) would start once this process gets completed.
Senior officials of Wipro recently met Hidco officials along with the agency’s consultants and other senior officials in Kolkata where the IT major’s New Town project was discussed.
Hidco officials said that it was a step forward for Wipro to start the work on their second campus. “The leasehold land is being converted into freehold land on certain terms and conditions. For this a documentation and legal process is required to be followed. The letter for paying the lease rent was handed over to them and once the fees are paid, the documentation process would be completed after which the project timeline will commence,” said Hidco chairman-cum-managing director Debashis Sen.
Earlier in 2019 the state government had decided to provide freehold land rights to Wipro for its 50-acre land allotted at New Town.
It was during the previous Left front government’s regime back in 2009 that the total price of the 50-acre plot earmarked to both Wipro and Infosys at Action Area III in New Town was settled at Rs 75 crore (Rs 1.5 crore per acre). Wipro had paid the first instalment of Rs 18.9 crore to Hidco in January 2010 and the remaining amount of about Rs 58.9 crore was paid to Hidco in 2014. The state government had also decided to waive the penalty on Wipro for the delayed payment following a request by the IT major.
The state government is also setting up the Bengal Silicon Valley in New Town which was launched in August, 2018 with the CM laying the foundation stone. Out of the total 200 acres land, there are about 169 acres of allottable land, excluding the roads and commercial space.
Some companies, who have already applied for plots in the Silicon Valley hub, are Reliance Jio (40 acres), CTS (25 acres), TCS (20 acres), Capgemini (7 acres) and Indian Statistical Institute. Several others have also evinced interest.