‘Development of Kolkata will be around areas near Metro’
Dec 04, 2013
Source : The Hindu


KOLKATA: Future development of the city will mostly be centred on routes nearest to the Metro Railway, CREDAI Bengal President Harsh Vardhan Patodia said here on Tuesday.

According to him, areas on the outskirts or fringes, where Metro Railway connectivity has been announced, will see good growth in the coming days.

“Future development would include areas with Metro connectivity,” Patodia told reporters during a press conference.

Garia (located some 17 km from Kolkata) is one such area which has seen interest since Metro connectivity was announced. Apartment rates moved up — since Metro work began in the area — from around Rs 1,000-1,200 a sq foot to approximately between Rs 2,000 and Rs 2,500 a sq ft in 2011, when Metro work was nearing completion.

Post Metro connectivity, apartment prices are approximately at Rs 3,200-3500 a sq ft, industry sources said. Garia and adjoining areas were connected through the North-South Metro Railway line around 2011-12.

Work is already being carried out along the Joka-BBD Bag route that would connect the South-Western fringes of the city with its Central Business District.

Two other routes where work has begun include the East-West Metro Railway (connecting the twin city of Howrah to Kolkata’s IT hub in Sector V) and the New Garia-Airport line (for improving airport connectivity).

Credai Conclave

Meanwhile, Credai will organise a two-day national conclave in Delhi beginning December 13. Amongst the 9,000-odd members , some 900-odd are expected to participate in the national conclave.

Around 150 developers from Eastern India are expected to attend the conclave, Patodia said.








Latest Realty News

KMC, Credai solve water body disputes
Dec 02, 2013
KOLKATA: Leading real estate developers in the city have persuaded the Kolkata Municipal Corporation (KMC) to use multiple reference points to map waterbodies instead of relying solely on a satellite image taken in 2004.
Bengal passes Bill to prevent use of excess land for real estate
Dec 02, 2013
KOLKATA: The West Bengal Assembly today passed the Land Reforms (Amendment) Bill, 2013 which would prevent use of land, earmarked for township development, in excess of the prescribed ceiling for real estate purpose.
Realty body meets civic officials
Nov 29, 2013
KOLKATA: The West Bengal chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI) on Wednesday met officials of the city civic body (Kolkata Municipal Corporation) to overcome regulatory hurdles and other bottlenecks regarding real estate development here.
City of Palaces’ growing slowly in smaller towns
Nov 29, 2013
KOLKATA: Year 2006. West Bengal’s Tier-II towns had their brush with the realty boom. It covered smaller towns such as Burdwan, Durgapur, Assansol, Shantiniketan, Bolpur, Prantik and Katwa.
Building completion certificate goes online in Kolkata
Nov 28, 2013
KOLKATA: The days of harassment by building department inspectors are over. The completion certificate (CC) process for houses and apartment complexes has gone online.
Kolkata real estate: end users drive property prices
Nov 21, 2013
KOLKATA: Kolkata is one of the very few real estate destinations where demand by end users is driving the prices of properties.
No new malls space helps lower mall vacancy to 14.5%: Cushman & Wakefield
Nov 06, 2013
KOLKATA: The overall vacancy levels in malls declined by 0.6 percentage to 14.51% on account of consistent leasing activities while supply has been only 0.77 msf gets added in Kolkata and Pune, states a latest report by Cushman & Wakefield.
House price rises abate in Q1
Oct 29, 2013
KOLKATA: RBI said the sequential increase in home unit prices across the country abated during the first three months this financial year. "The quarter-on-quarter growth in the RBI house price index at the all-India level was lower at 0.89 per cent in the first quarter of 2013-14...compared to the previous quarter," it said.
Foreign banks offer dual-rate products
Oct 28, 2013
MUMBAi: Amid rising interest rates, foreign banks in the country are making an effort to attract home loan borrowers by introducing dual rate or fixed-cum-floating rate products.
Salt Lake & Rajarhat attract 90% of Kolkata’s office supply
Oct 24, 2013
KOLKATA: Despite starting the year on a subdued note, the peripheral business district of Kolkata’s Salt Lake and Rajarhat micro-markets picked-up supply activity and occupier interest from the second quarter of the year—sustaining interests till the third quarter of 2013. The peripheral market accounts for nearly 90% of the total investment grade office space addition of about 0.90 million sq.ft in the city by September 2013.

Latest Realty News Of State

Realty Talk's