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According to Building department sources, the company has begun construction.
A project of the Life Insurance Corporation (LIC), the state-owned company plans to develop the complex with a budget of around Rs 400 crore. At present, the tallest building in Kolkata is the 36-storeyed South City Residential Complex, set up by a consortium including the Merlin group. “We have leased the land to LIC. But we are yet to receive the plan,” said Mayor Bikash Ranjan Bhattacharya.
The company had paid the KMC over Rs 276 crore for the 5-acre plot, acquired through a bidding process. It had already shortlisted around 14 design consultants for the project. “The building, at least 50 metre in height, will be the most stylish building in the city,” said a KMC official.
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