Narendrapur: Realty Hotspot in South Kolkata

Kolkata is one of the best locations of India which witnessing a huge growth across all sectors, especially the real estate sector which has rapidly changed the face of Kolkata as one of the top most metropolitan cities of the country. Kolkata real estate has plunged in all parts of the city but south and south central Kolkata has observed sky rocketing price trends and it certainly is ever increasing. Rajarhat Township and Eastern Metropolitan Bypass are also experiencing good growth compared to other parts of the city. Many new parts in and around the city have emerged as new real estate hubs in Kolkata. Kolkata real estate market is swelling with huge demand and transactional activities which has been looked as great growth prospect in the city’s real estate.

Narendrapur, located near Dhalai bridge-EM bypass is one of the most sought after residential real estate destination which is developing rapidly in Kolkata. Kolkata property market is growing swiftly with noticeable price appreciation across the city. Rising demand of properties in central areas and scarcity of land parcels in these regions has shifted the real estate market of Kolkata to its fringes which has given rise to the outskirts areas like Narendrapur.

Real estate scenario

Affordable property prices are the major driving factor of Narendrapur along with smooth connectivity and decent infrastructure which helped region to establish foundation of the real estate market at Narendrapur. Although the region has great opportunities for affordable housing, it also has great appreciation for luxury residential real estate. Many projects in this locality offer premium luxury apartments and houses in the affordable price range which is much lower compared to the other prominent parts of the city. With growing real estate growth and development in the region, it has observed price appreciation of about 10 to 15 per cent in the past six months and the highest demand was observed for new supply instead of resale sector in the region. Narendrapur region has shown a huge growth in the past three years with a clear growth of about 25 per cent owing to the infrastructure developments, good connectivity and affordable prices. Numerous developers are considering the region as new realty hotspot in Kolkata as an alternative to the high value property areas in central Kolkata.

Connectivity and infrastructure

The region has great connectivity as it comes in the vicinity of Dhalai Bridge in the southern fringes of the Kolkata. It is well connected with almost all parts of the central Kolkata and other prominent locations of Kolkata. The proposed under construction metro rail have huge future connectivity prospects in the region which will boost the real estate prices of this locality to the skies. The Eastern Metropolitan Bypass Road which will connect to Baruipur will also be the best future catalyst in the region’s real estate market. The proposed developments in the region are already attracting numerous developers in the region to set up their projects offering all sorts of housing units.

Narendrapur is located approximately 20 km from Howrah Bridge station and about 15 km from Sonarpur which are the prominent destination in Kolkata. An array of commercial developments was observed in the region in the past few months. Narendrapur’s strategic location on Kolkata fringes with decent connecting has worked as catalyst in the exponential growth in the real estate of this region. Narendrapur houses some of the prominent schools, colleges, hospitals, entertainment and shopping outlets providing basic social infrastructure facilities in the region.

Factors like good connectivity, affordable prices and availability of land has led to surge in the real estate market of the city. Many developers are coming up with residential project offering range of housing units which will be ready for possession by 2014. Some of the active developers in Narendrapur are Rajwada Group, City space, Shree Ganeshaya Infraprojects Ltd., Mayfair Group and Sugam Homes etc. Alongside Narendrapur, many other new areas have recently gained momentum in the real estate market of Kolkata these regions include Naktala, EM bypass etc.

Source: Bharat Estates