West Bengal is a major state situated in the eastern region of India. It is the land of natural beauty and beautiful ponds. The state shares its border with states like Assam, Orissa, Bihar, Sikkim and it also shares international boundaries with Bangladesh, Nepal, and Bhutan. It is a large state but very densely populated. The state is known for its fondness for literature, sports, and art and has many beautiful cities for the tourists to visit like Kolkata, Darjeeling, Kalimpong and Sunderban.
The state has been ruled by the Left parties for decades. Earlier it was ill famed due to its trade unions and anti-industrialization stand. But, now under the visionary leadership of Chief Minister Buddhadeb Bhattacharjee, the state is on an image makeover. The initiation of economic reforms is encouraging industries and they are eager to set up their firms in the state. The major reforms, government policies, and industrial growth has changed the face of real estate industry in the state.
Commercial Real Estate Scenario The potential of West Bengal in commercial real estate sector is increasing, as large number of malls, shopping complexes, and multiplexes are growing in the major cities like Kolkata, Howrah, Durgapur etc. The domestic and foreign investors are grabbing lands in enormous amount to meet the demand, and finally the prices of real estate properties are increasing which is a positive sign for real estate industry in the state.
Industrial Real Estate Scenario Government policies and reforms are changing the industrial face of West Bengal as the state is flooded by the already signed agreements and upcoming projects. The increasing number of industries require vast amount of space as result of which the price of land is increasing. This is ideal situation for investors to grab the opportunities and make most of it.
The Forthcoming Property Projects in West Bengal
- Tata has signed an agreement with the government of West Bengal to set up a manufacturing unit of small car in Singur. They have claimed to manufacture Rs. 1 lakh small car, the cheapest car in Indian market. This production unit has opened a hot new avenue for real estate developers both for commercial and residential purposes.
- West Bengal government have inked an agreement with one of the Real estate giant DLF to build a township and an industrial hub at Dankuni in the Hooghly district. It will be known as Dankuni World Township. This project will cover 4,840 acres of land and about Rs 330 billion will be invested, thus providing employment for around 400,000 people. The project will take almost 15 to 20 years.
- The Videocon Group is going to set up a multi-product special economic zone (SEZ) in Siliguri. It will be spread on over 400 acres and will need an estimated investment of Rs 100 crore.
- The Merlin Group has signed an agreement with Kolkata Metropolitan Development Authority (KMDA) to build a stadium at Rajdanga, Kolkata. It will cost the state government Rs 100 crore.
Important Cities of West Bengal Listed below are some of the cities in the state, which are witnessing a positive growth in realty sector.
|Jalpai Guri||24 Parganas South|
|Koch Bihar (Coochbehar)||24 Parganss North|