Commercial Real Estate
Srijan Group Completes ₹710 Crore DLF TechPark II Acquisition in New Town
Srijan Group has completed a ₹710.23 crore acquisition of DLF TechPark II, an IT/ITeS SEZ asset, and 17.75 acres of vacant land in New Town, Kolkata on March 30, 2026. The combined property admeasures approximately 25.9 acres located at New Town, Kolkata, along with structures thereon.
| Total Acquisition Value | ₹710.23 crore (completed March 30, 2026) |
|---|---|
| Land Parcel | 25.9 acres total (DLF TechPark II building on ~8 acres + 17.75 acres vacant land) |
| Asset Type | Operational IT/ITES Special Economic Zone with built property |
| Development Potential | 2 million+ square feet unlockable |
| Location | New Town, Kolkata (IT hub emerging as second IT destination after Salt Lake) |
| Buyer Entities | Makalu Builders LLP (DLF TechPark II); Gangapurna Projects LLP (vacant land); both Srijan Group affiliates |
| Status (as of September 2026) | Acquisition completed; operational asset with future expansion/redevelopment potential |
Transaction Overview and Completion
DLF Limited completed the transaction on March 30, 2026, involving the transfer of its IT/ITeS SEZ asset 'DLF TechPark II' and the sale of a 17.75-acre land parcel in Kolkata to entities of the Srijan Group. The IT/ITeS Special Economic Zone undertaking, including the built property 'DLF TechPark II', was transferred to Makalu Builders LLP, a Srijan Group entity, following fulfillment of all conditions and regulatory approvals.
In January 2026, the 18-acre vacant land was denotified by HIDCO and is no longer bound by SEZ terms and conditions, freeing Srijan to develop offices, retail or a mixed-use project, subject to conversion.
Asset Composition and Development Potential
The property comprises DLF Techpark II, an operational IT/ITES SEZ, together with an adjoining land parcel, collectively admeasuring approximately 25.9 acres located at New Town, Kolkata, along with structures thereon. The project is expected to unlock 2 million+ square feet of development potential, strengthening New Town's position as Kolkata's fastest-growing IT & business hub.
The asset comprises an operational IT/ITeS SEZ with supporting infrastructure and the adjacent land parcel, which strengthens Srijan's development pipeline. Srijan aims to integrate the site into its existing assets and pursue further development opportunities. The existing tenant mix and infrastructure could provide immediate cash flow, supporting phased redevelopment where required.
Developer Profile: Srijan Realty
Srijan Realty is one of the leading real estate companies of eastern India with its presence in Kolkata, Asansol and Burdwan in Eastern India and Chennai in the South. Srijan was initially a real estate marketing company (NK Realtors) that evolved into real estate development in 2003. The company is registered under RERA with Registration No. AAH - 2815, and has 25 years of experience with 23 ongoing projects and 33 completed projects totaling over 1.4 million square meters.
New Town Locality Context and Infrastructure
An information technology and residential hub is developed at New Town. New Town has emerged as the second IT hub of Kolkata after Salt Lake. Growing number of tech parks makes New Town a preferred destination for IT and ITes in East India. The New Town metro corridor and major arterial roads improve connectivity to other parts of Kolkata. New Town, Kolkata, is a planned township designed with residential, commercial, and IT zones. It is a preferred location for professionals working in IT parks and buyers seeking newer housing developments with planned infrastructure.
Located in New Town's Action Area II, the Bengal Silicon Valley Tech Hub is a significant initiative by the Government of West Bengal to foster the technology sector. Spanning 250 acres, this hub aims to attract investments in IT/ITeS, data centers, e-commerce, IoT, AI, and R&D. Major corporations such as TCS, Reliance Jio, Cognizant, and Capgemini have secured land within the hub, with the project expected to generate approximately 100,000 direct jobs upon its completion in 2025.
Infrastructure Projects and Connectivity
Rajarhat New Town is in the middle of multiple infrastructure developments that are expected to significantly improve its livability and connectivity. Metro Line 6, the East West Corridor, is nearing completion with trial runs expected soon and commercial services to begin after safety approvals. The 10 lane corridor widening project is another key road infrastructure project expected to ease traffic in the area. A 50% property tax relief for IT and ITES industries has also been announced for 12 years which will boost commercial real estate demand and employment in the Rajarhat New Town belt.
Market Significance
The project is expected to unlock 2 million+ square feet of development potential, strengthening New Town's position as Kolkata's fastest-growing IT & business hub. With rising demand for Grade A office spaces and infrastructure expansion, this move signals strong investor confidence in the city's commercial future. In one of the largest real estate deals in Kolkata, Srijan Group has acquired DLF TechPark II on an eight-acre plot and another 18-acre vacant land parcel for Rs 696 crore.
Frequently asked questions
What asset did Srijan Group acquire from DLF?
Srijan acquired the transfer of DLF's IT/ITeS Special Economic Zone undertaking, including the built property 'DLF TechPark II', and approximately 17.75 acres of vacant land located in Kolkata.
When was the acquisition completed?
DLF completed the transaction on March 30, 2026.
What is the total land area of the combined property?
The property collectively admeasures approximately 25.9 acres located at New Town, Kolkata, along with structures thereon.
What is the development potential of the site?
The project is expected to unlock 2 million+ square feet of development potential.
What was the transaction value?
The total transaction value was ₹710.23 crore, completed on March 30, 2026.
How does this acquisition strengthen Srijan's portfolio?
The asset comprises an operational IT/ITeS SEZ with supporting infrastructure and the adjacent land parcel, which strengthens Srijan's development pipeline. Srijan aims to integrate the site into its existing assets and pursue further development opportunities. The existing tenant mix and infrastructure could provide immediate cash flow, supporting phased redevelopment where required.