: Kolkata is the capital of Bengal and having population around 5 million, with an extended metropolitan population of over 14 million, making it the third-largest urban agglomeration and the fourth-largest city in India.
The city is an epitome of rich culture and creativity is one of the most preferred destinations for foreign direct investment (FDI). The real estate dynamics of the city are changing at a very fast pace. The realty market has suddenly been geared up by arriving reputed MNCs and corporate offices.
The market for residential property has witnessed a distinct movement as Kolkata is breaking with the past. Projects of reputed builders such as DLF, Unitech are coming in the peripheral suburban areas of the city due to the emergence of Kolkata as an upcoming IT destination of India. The most of the residential projects are Public-Private -Partnership (PPP) projects. The commercial market in Kolkata has witnessed large number of inquiries coming in from multinationals. Most of the property demands are from the domestic and international retail chains to set an upward trend in the commercial market. For MNCs and Corporate, apart from SaltLake or Lansdowne Road parts of C R Avenue, Rawdon Street, and Ballygunge Circular Road are also set to get a more upmarket status.
In the coming days, demand for office space is expected to be generated by players such as call centre operators, insurance companies, information processing outfits and restaurants. A Sizeable demand has already been generated by entertainment-cum-shopping complexes, and this trend is likely to continue in the near future.
F Being a capital of West Bengal, the city has a major attraction for investors.
F The city offers low priced lands, rich culture and safe environment compare to other metropolitans. Many MNCs are setting up their office there
F All major developers from all over the country have started their massive projects in the city.
F Apart from SaltLake or Lansdowne Road parts of C R Avenue, Rawdon Street, and Ballygunge Circular Road are also set to get a more upmarket status.
Durgapur: Durgapur – Known by its steel plant and other heavy industries that came up subsequently, Durgapur is also experiencing a rush of real estate activity. Located 160 kms West North West of Kolkata, the city’s informed populace is welcoming the residential and commercial projects that are being introduced by private builders in Durgapur.
Modern city is making a mark in the steel city, with Bengal Ambuja’s township, Urvashi spread over 94 acres north of the City Centre.
The SPS Synergy Knowledge and HealthCity is scheduled to come up with a 500 bed hospital cum private medical college, super specialty clinics, Medicare centre, nursing college, dental college, PharmacyCollege, paramedical college, international school, media and ManagementCollege, technology colleges and indoor sports complex. Residential apartments, shopping malls and hotels in Durgapur will complement the educational facilities the 300 acre township will offer. The retail fever has caught on with small towns in West Bengal, as in the rest of the country, and the local market is open to shopping malls, with retailers pitching for commercial spaces in Durgapur.
F Durgapur is a major industrial hub of the state
F Due to heavy industry and steel plant, the city is attracting investors from the country and overseas.
F Massive residential and commercial projects are being constructed in the city.
F The city offers an adequate infrastructure.