New Town – THE NEW FACE OF KOLKATA

New Town – THE NEW FACE OF KOLKATA
Sep 2019 , by , in Property Talk

New Town, a rapidly developing suburb in Kolkata is becoming the preferred locality for prospective young home buyers.

New Town planned by WBHIDCO is the new commercial and residential hub with modern culture. Contained within it are malls, business districts, planned residential plots and institutions, Business Parks will also be in this area.

New Town has emerged as the second IT hub of Kolkata with IT majors like TCS, Wipro, Cognizant and real estate developers like DLF, Unitech, TATA Realty, Shaporji-Palonji, Ambuja Realty etc. are present in this satellite city of Kolkata.

New Town is well-connected to the main city and other major areas. With reasonable property prices, this is an emerging residential destination of the state. Its vicinity to IT hub of Sector V, Salt Lake, and the upcoming Metro corridor from Gariya to Dum Dum are the added advantages.

As a first in the country, New Town is enabled with 10.5 km of Wi-Fi Zone along the Main Arterial Road (part of Biswa Bangla Sarani) from Haldiram, near Kolkata Airport to Salt Lake Sector V, which also make it India’s first Wi-Fi road connectivity. The stretch has already been declared as a green corridor.

New Town is being developed according to Government plan. Housing Infrastructure Development Corporation (HIDCO) plans and executes development projects in the area with lands and plots available as leasehold. New Town Action Area 1 is well developed at present while, Action Area 2 & 3 are under development. The lease-hold residential properties are either under co-operative societies or high-end complexes with lifestyle facilities and amenities.

THE EMERGING HOUSING HOT SPOT

In recent time, many integrated townships and corporate complexes have come up in New Town, making it a preferred locality for prospective home buyers. Sanjay Jain, Managing Director, Siddha Group explained, “The well planned city with neighborhood parks, playgrounds, schools and local markets within walking distance give a sense of community here. New Town is a great place to stay with tremendous scope of appreciation.”

Indeed, dotted with mini-townships, high-rises, and apartment complexes, the landscape of New Town features some of the best housing projects of the city. Kolkata based Jain Group too has a premium residential project in this zone. Rishi Jain, Managing Director, Jain Group said, “Dream One, our flagship project, that is under construction is located opposite the Eco Park. It will have residential units equipped with home automation technology.”

Given the rapid infrastructure development activities and interest from developers, from low-priced homes to luxury flats, and super-luxury apartments, property investors and buyers can choose from a range of options in New Town. As, Sushil Mohta, Chairman, Merlin Group added, “With the presence of Tata Medical Centre and Ohio hospital, New Town is well-designed and well-equipped along with good transportation facility. There are areas which positively look like an international city. We are developing one of the largest Residential projects Elita Garden Vista on 25 acres consisting of 1511 numbers of 2/2.5/3 BHK A.C homes. We are also planning a retail area, a Co-living project and a sports themed township on 30 acres land.”

The master plan envisions New Town as a township which is at least three times bigger than the neighboring planned Salt Lake City. New Town has also been declared a Solar City and now initiatives are being taken to make it a Smart Green City

THE BRIGHT FUTURE

The state government of West Bengal is promoting the integrated city of New Town to relax the overcrowded housing needs in Kolkata. The planned township apart from comprising residential complexes, features state-of-the-art commercial properties, convention centers, clubs and a central business district occupied by top-notch multinational companies. New Town already has everything that a potential home buyer or a business investor would need. From educational institutions, medical facilities to shopping malls, road, air and rail connectivity, it is being termed as “a city within a city”. In addition, its geographic location is also strategic with well-developed VIP Road along with Airport in the vicinity and bustling commercial district of Salt Lake Sector V nearby. The early movers are sure to benefit from the capital appreciation in due course of time.

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