Shriram Properties Limited (SPL) has announced a significant breakthrough in its Kolkata operations, resolving a long‑standing commercial dispute with the Government of West Bengal. Through its subsidiary Bengal Shriram Hitech City Private Limited, the company has conveyed 42.37 acres of land at Uttarpara, bringing closure to the matter and freeing the firm from its obligations.
This resolution is strategically important, as it allows SPL to sharpen its focus on unlocking value from its large 314‑acre land parcel in Kolkata. So far, the company has developed around 48 acres, delivering projects such as Shriram Grand One, Sunshine One and Two, Symphony, Springfield, SkyBloom Villas, and Signature Square—together accounting for nearly 5 million sq. ft. of development, with about 80% already sold.
Looking ahead, SPL plans to utilize part of the remaining land for its own development while monetizing the rest. The company has outlined new projects involving 5–6 million sq. ft. of development, with a potential gross development value of approximately ₹3,000 crore over the next five years. In addition, monetization of surplus land and FSI is expected to unlock further incremental value.
The Uttarpara market continues to be a strategically important corridor for SPL, supported by strong infrastructure, connectivity, and demand potential. With a robust pipeline and significant GDV opportunities, the company is well positioned to deliver meaningful growth in the coming years.
Commenting on the development, Gopalakrishnan J, CEO of Shriram Properties, said: “We are pleased to have amicably resolved the long‑standing commercial differences with the State Government. This settlement enhances our ability to accelerate development, and we are now well positioned to unlock meaningful value in an accelerated manner in the coming years.”
This resolution marks a turning point for Shriram Properties in Kolkata, giving the company clarity and confidence to pursue its expansion plans while strengthening its presence in one of East India’s most promising real estate markets.
