KOLKATA: The Housing Infrastructure Development Corporation (Hidco) on Tuesday passed the proposal of setting up a vertical city in New Town based on the World Trade Center specifications.
The Hidco board meeting was held on Tuesday where the proposal was discussed and approved. State urban development minister and Hidco chairman Firhad Hakim said that the vertical city building has been planned to be set up as per the World Trade Center specifications.
“The chief minister had earlier announced the setting up of a world trade centre. It will be a 38-storey vertically-structured building planned on four acres of land at the central business district (CBD) area. It will have all kinds of trade and industrial activities. Hidco will set up the vertical city building. The total project cost has been pegged at Rs 219 crore. Tenders will be floated soon,” Hakim said.
Officials said that initially the plan was to set up a 28-storey building which was later revised. “The process to get necessary environment and other clearance is being initiated. The green building specifications will also be followed,” said an official.
Officials said the building proposes to have floors reserved for fintech companies and start-ups along with commercial, retail and residential purposes in the top floors.
As per the initial detail floor wise concept plan, the first few floors from the bottom will be for commercial and retail purposes. One floor will be reserved for a food court as the next floors moving upwards will be reserved for office space which could be available for start-ups and fintech companies. The next floor will be a service floor as the rest of the floors till the 38th floor will be reserved for residential purposes. Among the other facilities as conceptualised are a clubhouse and a sky deck.
Hidco has been stressing on optimum utilization of space by setting up high density vertical structures when it comes to real estate development. Officials said that the concept of a vertical city was to have residential, commercial, retail, fintech and other establishments in one single building which would serve the purpose of optimum utilization of space.
“Vertically raised tall buildings instead of horizontally spread buildings helps to accommodate more establishments in a smaller cover area,” said an official.
