60% of Kolkata Realty Projects Likely to Get Clearance Soon

Around 120 projects have not submitted the required forms, and about two dozen are likely to receive notices over flaws, Mohta said. Those projects are unlikely to secure clearance. The civic body did not comment.

The real estate sector in West Bengal attracts about Rs 20,000 crore in annual investment and contributes roughly Rs 7,000 crore to the state exchequer, CREDAI said. It is the second-largest employment generator after agriculture, supporting nearly 50 lakh livelihoods.

CREDAI Kolkata president Apurva Salarpuria said the government's approach would help restart construction activity, benefiting the supply chain and the large workforce. Sidhart Pansari, past president of CREDAI Kolkata, said the proposed reforms in industrial policy and land laws, along with changes to approval systems, would create a stronger investment ecosystem and support long-term urban development in the state.