Howrah: Real estate in Howrah has hit the headlines ever since the largest foreign investment deal was signed by the West Bengal Government for a township project. The metamorphosis of Howrah will be brought about by the New Kolkata project and the industrial parks in Howrah which are being promoted by the state.
The NewKolkataWestInternationalCity on National Highway 6 is located in Howrah district and promoted by the Ciputra and Salim Groups of Indonesia at a cost of USD 330 million in association with Universal Success, an NRI enterprise. Spawning 500 hectares, the integrated township will boast of IT parks, shopping malls, sports complex, a 200 bed hospital and entertainment zones for the residents of the city. The villas in the first phase of construction will be ready for possession by December 2007, and the entire project will be completed by 2010. The choice of villas carries price tags from Rs. 20 lakhs to Rs. 75 lakhs.
The industrial town of Howrah is moving towards a more organized commercial expansion, with specialty zones being earmarked. The first of these, the FoodPark for food processing industries has 22 fully serviced plots, housing for workers and a fire station on 54 acres, and completed at a cost of Rs. 18 crore. A Poly-Park at Sankrail, 28 kms from Kolkata, and off NH 6, covers 66 acres and is a hub for plastic down-stream industries. Sankrail is the site for another FoodPark, the Sudha Ras, where 10 food processing units are in operation. An Industrial Park for artisans is also on the anvil. A super specialty hospital is being put up by the First Trust group in Howrah.
F The city is the biggest place for foreign investment in the state.
F The city is enjoying the some of the biggest investments in real estate sector.
F Commercial segment is a bit more active than residential segment.
F Howrah is an industrial hub, so ultimately boosts real estate and property prices.