The Ambuja Neotia group has acquired a 25-acre land parcel from Shapoorji Pallonji Real Estate in Rajarhat Action Area III, making it one of the largest such land transactions in Newtown. ADVERTISEMENTThe plot acquired by Ambuja is meant for commercial use where office space and retail development can take place. Confirming the development, Harshvardhan Neotia, chairman of the Ambuja Neotia group, said the land parcel would be developed over the next 5-7 years. “A part of the land can be used for residential purposes, even as the majority has to be commercial (office/retail) development. Ambuja Neotia, arguably the most prominent developer from Calcutta, is engaged in multiple aspects of real estate, including residential, retail and office space.

Source: The Telegraph January 23, 2026 10:06 UTC