KOLKATA: Housing Infrastructure Development Corporation ( Hidco ) is again ready to auction off several plots — ranging from half an acre to more than 6 acres — in Rajarhat New Town on leasehold basis for setting up commercial establishments and residential complexes.

The land on offer adds up to over 15 acres, said an official, adding that plots will be auctioned after the elections. Among the projects planned are a higher education institute, a nursing college, hotel, offices and residential complexes. The market price of commercial plots in the township is around Rs 10 crore per acre.

The bulk of the land — a 6.65 acre plot — is earmarked for a higher education institute. Nine plots of half-acre each, located outside the periphery of Bagjola canal, will have automobile servicing workshops. Automobile showrooms will come up on two plots of 37 cottah and 44 cottah and seven small plots are earmarked for residential complexes.

Officials said expressions of interest have been called for a 1-acre plot for a hotel project and a 2-acre plot for a nursing college for which tenders have been floated. Bids could be submitted after elections. The authorities will soon reissue a tender for global e-auction to set up a healthcare institution on a 30-cottah plot.

Since 2012, after the record-breaking sale of a 2.5-acre plot off Rajarhat Main Arterial Road for a whopping Rs 51.13 crore, Hidco has been putting plots in the township on auction at regular intervals. While some auctions have paid off handsomely, some plots did not get the desired response.

Earlier, plots in the township used to be handed over on freehold basis but Hidco later decided to sell on leasehold basis to retain some power on the land. Recently, the authorities decided that owners of commercial plots that are lying idle for five years or more would have to pay a ‘late fee’ of 10% of the total land cost for each year.