Kolkata, the capital of West Bengal and former capital of India, is a commercial, educational and cultural hub of the country and the most important metro in East India. The port of Kolkata is the oldest operating port in the country that was operational even during World War II.
The real estate sector in the city grew by leaps and bounds towards the end of the 20th century with tremendous rise in investments during the same period. As Kolkata is one of the primary metros of India, the real estate sector is lively, with infrastructure projects driving demand in the market.
The city is a benchmark for modernity in India, but it has also retained much of its old world charm. North Kolkata boasts of 19th century architecture and some of the cultural hallmarks of the city. At the same time, there are many businesses and IT hubs throughout the city including Kolkata’s own Software Technology Park.
Stats and Facts
The Information Technology Sector
Connectivity
Kolkata Civic Administration
Kolkata Infrastructure
Kolkata’s infrastructure growth started in the 19th century with emergence of the industrial sector. British companies, thereafter, heavily invested in the city’s infrastructure. The next big spurt in the city’s development was the surge of investments in the year 2000. This led to the establishment of multiple hotels and shopping malls in the city and now Kolkata is one of the infrastructural marvels of the country.
The healthcare infrastructure in Kolkata is worth mentioning as it has 48 government hospitals and over 300 private medical establishments as of 2010. The number of hospital beds for every 10,000 people in the city is above 60 – higher than the national average which is below 10.
Major infrastructure projects in the Kolkata Metropolitan Area are undertaken by KMDA.
Infrastructure Projects
|
Name Of The Project |
Impact Areas |
Expected Completion Date |
Remarks |
|
Hooghly Riverfront Beautification Project |
Hooghly Riverfront Areas |
Under Development |
An initiative by the state government to restore the former glory of the city’s riverfront. |
|
Trans Municipal Scheme For Drainage Congestion |
Khardah, Dum Dum, Panihati |
Nearing Completion |
This project will clear up drainage congestion in the targeted areas. |
|
Rejuvenation Of Dalhousie Square – Roll Out Phase I |
Bow Bazaar, Bow Barracks |
Completed |
The rejuvenation is an initial phase and the complete beautification of this heritage site is yet to be commissioned. |
|
24x7 Water Supply |
All |
In Progress – Yet To Be Fully Commissioned |
Kolkata has an ongoing infrastructure project for 24x7 water supply throughout the city. |
|
Trans Municipal Solid Waste Management |
Bansberia, Bally, Budge Budge, North Barrackpore, Garulia, Kamarhati etc. |
In Progress |
The solid waste management infrastructure project is for 10 municipal towns in Kolkata, and will greatly increase the quality of life in the city. |
|
Parama Island – Park Circus Flyover |
Gobra, Topsia, Tangra, Park Circus, Parama Island |
Delayed |
This will be the largest flyover in Kolkata, and will significantly clear up traffic afflicted areas once it is complete. |
|
Tallah-palta Dedicated Transmission Main |
All areas served by the water supply system |
Completed |
Increased treated water supply to Tallah Pumping Station from Palta Water Works has improved the water supply conditions in Kolkata. |
Kolkata Real Estate Market
Key Localities in Kolkata
|
Localities |
Per Sq. Ft. Price – Q3 2013 |
Rent Per Month For A 2 BHK Apartment (approx.) (Figures in 1000 rupees) |
|
|
3,510 |
12 |
18 |
|
|
6,008 |
16 |
24 |
|
|
3,660 |
9.6 |
14.4 |
|
|
4,682 |
11.2 |
16.8 |
|
|
3,105 |
9.6 |
14.4 |
|
|
4,053 |
11.2 |
16.8 |
|
Charges by Government Bodies
Property Registration
If sale value is below 25 lakhs:
If sale value is above 25 lakhs:
a) 5% Stamp Duty for Panchayat Areas
b) 6% Stamp Duty for Municipal and Corporation Areas
c) 1% Registration Charges
a) 6% Stamp Duty for Panchayat Areas
b) 7% Stamp Duty for Municipal and Corporation Areas
c) 1.1% Registration Charges
Property Tax
The property tax in Kolkata is levied by the Kolkata Municipal Corporation. The rates and other charges for property tax are revised regularly and have several tiers.
West Bengal State Electricity Distribution Company Limited
The West Bengal State Electricity Distribution Company Limited (WBSEDCL) gives power to 96% of West Bengal and even supplies it to every sector of the state. This includes ordinary villages as well as huge industrial areas.
Kolkata Water Supply Charges
Online Payment Facility
Kolkata has an online payment facility for taxes, water supply bills, parking fee etc. It is one among a few such online payment options in India, and can significantly reduce the carbon footprint of the city. This facility is administered by the Kolkata Municipal Corporation.
