Ratan Tata's decision to relocate Nano car project due to protests over land acquisition exacerbates concerns over West Bengal's industrialization and infrastructure projects.
Salim Group chairman Prasoon Mukherjee expressed confidence in West Bengal's industrial development, stating ongoing projects, including PCPIR, remain unaffected by the Expressway's temporary halt due to land acquisition issues.
Real estate stocks have plummeted, with the BSE Realty Index down 68.5% in 2008. DLF announced a buyback, while analysts predict further decline due to slowdowns, rising input costs, and high interest rates.
Unitech Ltd is set to launch 1,200 sq ft homes in Greater Noida, while also developing the NKID project near Kolkata in collaboration with Salim Group and Universal Success.