Future prospects of investing in Rajarhat Kolkata
Rajarhat also known as New Town or Jyoti Basu Nagar is one of the most significant real estate destinations in Kolkata today. The eastern micro market of Kolkata is the epitome of planned and focused residential and commercial real estate development. Backed by state of the art civic infrastructure like wide roads and flyovers, Rajarhat Township has been on the radar of a large number of developers and buyers alike. Aimed to be developed as an IT hub, the region is witnessing immense growth with a number of construction projects currently underway. Since the proposed IT parks is going to attract a lot of working professionals renting out of apartments is going to be an equally lucrative option.
On the downside Rajarhat can face the heat because of a political battle being played out in West Bengal currently. The present government has shown to be a pro reform government which augers well for the future of Rajarhat Township. It’s not as if people are just waiting for the IT industry to take a plunge before investing in Rajarhat but are adopting a wait and watch policy. Even amid such small roadblocks, Rajarhat is one of the most active real estate segments in Kolkata today.
As far as health care is concerned, Rajarhat is at a close distance to the UMRI (Uma Medical related Institute), Zoom healthcare and Tata Cancer Centre. The New Garia – Airport line of the Kolkata Metro is proposed to pass through Rajarhat Township. The line is expected to be active by 2014 making Rajarhat very well connected to the airport and other parts of Kolkata. A state of the art recreational park water park called Aquatica and Nicco Park for Children make up for the entertainment escapades near the Rajarhat Township. Swissotel Kolkata Neotia Vista is one of the existing luxury hotels in the region with many more like Westin and Ginger hotels in the pipeline.
The construction of the proposed 6-lane New Town Expressway is going to ease out any traffic congestion in the future connecting Rajarhat to all parts of Kolkata swiftly. Rajarhat is closely connected to both the domestic and international airport making it ideal for students and single professionals. The completion of Flyover at Nagerbazaar on the neighboring Jessore Road is also going to help increase realty prices in Rajarhat in the medium to long term.
The average rental prices for a 2 BHK in Rajarhat can fetch anywhere between Rs. 7000 to Rs. 15,000 per month. Most well renowned builders like Unitech, DLF and Tata housing are active in the region.
As far as commercial real estate development is concerned, Rajarhat has already quite a large number of functional malls. They include City Centre II, Axis Mall, DLF Galleria Mall and Home Town. The current price trends in Rajarhat range between Rs. 2500 to Rs. 5500 per square feet depending on the project, its size and location.
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