Kolkata Residential Plan
Sugam Homes to invest over Rs 2,800 crore in three Kolkata residential projects in FY27
Kolkata-based developer Sugam Homes plans to invest over Rs 2,800 crore to build three residential projects in the city during FY27, which runs from April 2026 to March 2027. The plan was reported on 26 October 2026 and covers about 5.5 million sq ft.
| Planned investment | Over Rs 2,800 crore across three residential projects in Kolkata |
|---|---|
| Total area | About 5.5 million sq ft across the three projects |
| Timeline | FY27 (April 2026 to March 2027) |
| FY27 sales value target | Rs 750 crore to Rs 800 crore, up about 20% on the previous year |
| Current pipeline | 10 projects under development with a construction value of Rs 1,200 crore |
| Developer | Sugam Homes, the residential arm of the Kolkata-headquartered Sugam Group |
| Status as of 28 October 2026 | Plan reported in a news report dated 26 October 2026; no launch dates or approvals for the three projects have been announced |
What has been announced
Sugam Homes, a Kolkata-based real estate developer, plans to invest over Rs 2,800 crore to develop three residential projects in the city. The projects, spanning about 5.5 million sq ft, are to be developed in FY27.
The plan was reported on 26 October 2026. As of 28 October 2026, it rests on that single news report. The company has not published a separate statement on the three projects.
Sales target and current portfolio
The company is aiming for sales value of Rs 750 crore to Rs 800 crore in FY27, up about 20% from the previous year.
Sugam is currently developing 10 projects with a combined construction value of Rs 1,200 crore. The three new projects would add to that pipeline.
Who is behind the plan
Sugam Homes is the residential arm of the Sugam Group, which is headquartered in Kolkata. Suhel Saraf is the Managing Director of Sugam Group.
At CII Realty East 2026, held in Kolkata at the Biswa Bangla Exhibition Centre, Saraf argued that the definition of affordable housing needs to change with the incomes of India's middle-income households. He said a home considered affordable five years ago may no longer be so today. He made that point in a panel on mass and mid-income housing, not about this plan.
Kolkata market context
The plan lands in a market where residential registrations are rising. The Kolkata Metropolitan Area recorded 62,328 residential property registrations in 2025, a 25% increase on the previous year.
One 2026 analysis says Kolkata was the only major metro to grow housing sales in early 2026, with sales up about 5% year on year. The same market guide describes affordable homes (under Rs 50 lakh) and mid-band homes (Rs 50 lakh to Rs 1 crore) together making up roughly three-quarters of sales.
- EM Bypass: indicative prices of about Rs 8,000 to Rs 9,500 per sq ft in a 2026 market guide.
- Garia, Behala and Joka: indicative prices of about Rs 4,000 to Rs 5,500 per sq ft in the same guide.
These are corridor-level indicators. The report on Sugam's plan does not name the localities of the three projects, so these prices do not describe the new sites.
Infrastructure around Kolkata
New metro and road works are opening up areas on the city's edge. One analysis says the Joka to Esplanade metro corridor is targeted for completion by 2028. The state budget has allocated Rs 900 crore for an elevated link between New Town and Chingrighata. The West Bengal government has also planned a ring road around Kolkata and a flyover connecting the EM Bypass with Rajarhat-New Town.
What it could mean for buyers and investors
If the plan goes ahead, it would add new residential supply from Sugam in FY27, on top of its current 10 projects. Buyers considering a Sugam project should check each project's RERA registration, approvals, possession date and price sheet directly, because none of these details has yet been announced for the three new projects.
For investors, the 20% sales growth target and the company's expansion of its pipeline show the developer planning for higher volumes. The target is a company goal, not a confirmed result.
What comes next
- FY27 runs to March 2027. The company's sales target and development timeline depend on the three projects moving forward.
- Sites, localities, unit counts, configurations, prices and launch dates for the three projects have yet to be announced.
- Any registration under West Bengal RERA for the new projects would be the first public record of their approvals.
Frequently asked questions
How much is Sugam Homes planning to invest in Kolkata?
Sugam Homes plans to invest over Rs 2,800 crore to develop three residential projects in Kolkata in FY27. The projects together cover about 5.5 million sq ft.
What is Sugam Homes' sales target for FY27?
The company is aiming for sales value of Rs 750 crore to Rs 800 crore in FY27, which is up about 20% from the previous year.
Which localities will the three new projects be in?
The report on the plan does not name the three localities. Sites will need to be confirmed by the company.
How many projects does Sugam currently have under development?
Sugam is developing 10 projects with a construction value of Rs 1,200 crore, according to the same report.
Has Sugam Homes launched the three new projects?
As of 28 October 2026, no launch of the three projects has been announced. The plan is for development during FY27.
Who leads Sugam Group?
Suhel Saraf is the Managing Director of Sugam Group, which is headquartered in Kolkata. Sugam Homes is its residential arm.