Kolkata: In one of the largest real estate deals in Kolkata, city-based Srijan Group has acquired DLF TechPark II on an eight-acre plot and another 18-acre vacant land parcel for Rs 696 crore.In a regulatory filing on Monday, DLF confirmed the transfer of its IT/ITeS SEZ undertaking, comprising the SEZ property, including DLF TechPark II, to Makalu Builders LLP, a Srijan Group and Srijan Realty Pvt Ltd entity.The transfer of the vacant land has been made to Gangapurna Projects LLP, another Srijan Group entity.The entire land parcel was originally an IT/ITeS SEZ. In Jan, 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.“We have concluded the agreement with DLF on the acquisition of 25.9 acres in a prime location in New Town,” Srijan Group director Karan Agarwal told TOI.Real estate consultancy firm JLL India, which was the transaction advisor, refused to comment.In Nov 2024, RDB Primarc Techno Park LLP, a consortium of Primarc and RDB Group, acquired DLF TechPark I for Rs 637 crore.The deal between Srijan and DLF has been in the works for over a year now. The IT/ITeS SEZ asset has a gross leasable area of about 10.5 lakh square feet. Among offices in the SEZ are Tech Mahindra and Ericsson. The SEZ business contributed about Rs 66.9 crore in revenue for DLF in FY25.Sources said while Srijan acquired the SEZ for Rs 410 crore, it was the vacant land for which it paid Rs 286 crore, that held immense business potential.“Over the next five years, we plan to undertake a 20 lakh sq ft development on the vacant land parcel,” Agarwal said.
