: Siliguri, at the foothills of the Himalayas in North Bengal is favorably located to serve as a commercial hub for transactions between the remote north east and the mainstream economy. A Special Economic Zone would fulfill the demanding requirements to a great degree. Real estate in Siliguri, North Bengal, has gained momentum in the last 3-4 years, almost at a rate of 30%. High end projects have been driving the property market in Siliguri, and the takers for such residential apartments have been investors from Sikkim, Nepal, Bhutan and Bangladesh.
Based on real demand from end-users, Siliguri is the fastest growing city in West Bengal after Kolkata. Property developers from Kolkata have re-modelled residential spaces through designer townships like the Uttarayon, which is built on 400 acres off NH 31, 3 kms from Siliguri. Developed by Bengal Ambuja on an abandoned tea estate, 1600 high-end apartments and 300 middle and lower income group units for a resident population of 50,000 people have come up.
The IT industry is making its mark here, with the opening of the Xplore-TechCallCenter and BPO in November 2006. The construction of an IT Park is in progress at Matigara by the Siliguri-Jalpaiguri Development Authority (SJDA).
The SJDA has earmarked 1000 acres of land at Fulbari, 12 kms from Bagdogra airport for an SEZ, in anticipation of heightened trade activity with the opening of trade through Nathu-La, Sikkim. An Inland Container Depot to facilitate trade between sea/river ports of Haldia and Paradip, and land check posts with China, Bangladesh, Nepal and Bhutan has also been taken up by the Government of West Bengal in partnership with the private sector.
F The hottest place for real estate investors in the state and fastest developing city after Kolkata.
F The city is strategically located, ideal place for foreign trade and already being noticed.
F The city has succeeded to earn attention of real estate developers from all over the country.
F Some milestone residential projects are being commenced in the city
F The state government has allotted SEZs in the city and considered the city is the next IT hub in the state.