September 29, 2018

South Suburban growth of Kolkata

Suburban growth is the sweet reality of Kolkata and South Kolkata remains the pioneer in this regard. Garia, Boral, Narendrapur, Rajpur, Sonarpur, Southern Bypass, EM Bypass (stretch from Ruby to Kamalgazi) are some prominent vicinities that have led the pack in terms of all-inclusive growth in the recent years. It is worthwhile to mention here that these areas have gradually earned the sobriquet of ‘excellent’ zones for Real Estate growth.

At the very onset, with full conviction it can be contemplated that connectivity and affordability by far have been the decisive catalysts for attracting the interests of end-users as well as investors in these areas. Garia has always been at the focal point of organized residential growth given its strategic location with three major thoroughfares namely NSC Bose Road, Raja SC Mullick Road and EM Bypass giving seamless access to the central nodes of the city. With the advent of fully operational Metro Railnetwork from the year 2010, the area’s face value has enhanced to new levels altogether. Garia’s importance is also pivotal in terms of social infrastructure like reputed schools (BD Memorial International, Techno India Public School, Miranda High School, Welland Gouldsmith), colleges (Dinabandhu Andrews Colege, Netaji Subhash Engineering College), hospitals (BRWS Hospital, Remedy Hospital, Hindustan Health Point, Welkin Medicare, Lifeline Nursing Home) shopping malls (Pantaloons, Big Bazaar), hypermarkets (Spencers, More), prominent retail outlets (Senco Gold, Anjali Jewellers) and so on.

Off late, a remarkable trend has been noticed. A sizeable proportion of young IT professionals are constantly moving in here in their quest for a better living. They ponder affordability, easy access to work place and well established infrastructure as the major drivers behind their purchase decisions of apartments. Apart from that, with the Government giving fair amount of nudge to reduce interest rate on home loans and with implementation of progressive schemes like CLSS (Credit Linked Subsidy Scheme) for home loans under PMAY (Pradhan Mantri Awas Yojna), the young buyers and people living especially in rental apartments are aggressively availing these schemes for a permanent and decent shelter. In the current scenario, the capital values of apartments in Garia hover in the range of Rs.3500 to Rs. 5500. 2 and 3 BHK are the most preferred flat sizes and the average price of flats fall in the range of Rs. 25 to 40 Lakhs.

![BHK Configuration]( "BHK Configuration")

As a spill over effect, the neighbouring areas like Boral, Narendrapur, Rajpur, Sonarpur, and Patuli have also leveraged the synergies and internalized vibrant growth. If we consider Boral, the vicinity has literally transformed into a residential hotspot. Boral Main Road has become the perfect link of convenience and feasibility. Newly constructed large gated communities with all modern amenities have given the area a dynamic facelift. Just 10 minutes away from Kavi Nazrul Metro Station, people consider Boral as the next best alternative to Garia owing to comparative affordability and peaceful environment. Social infrastructure is also perfectly tuned with the area’s growth dynamics. On Boral Main Road, there is Boral High School, engineering college namely Future Institute of Technology. In close proximity there is famous Narendrapur Ramkrishna Mission school and college, BD Memorial International School, Miranda High School, hospitals namely Mother Teresa TB Hospital, Lifeline Hospital, Hindustan Health Point etc. Local markets like Boral Market, Garia Bazar are also easily accessible for people’s day-to-day needs. The capital values here fall in the range of Rs. 2800 to Rs. 3500 per sq.ft.

![Demand Distribution]( "Demand Distribution")

On NSC Bose Road, Narendrapur is another enviable residential area. This area is already famous for the prestigious Ramkrishna Mission that carries the pride of modern India in the international podium. Plugged with EM Bypass, Extended Southern Bypass (from Kamalgazi to Baruipur), connectivity again is the base structure that catapults the areas’ growth pulse. The recently constructed Kamalgazi flyover has added more teeth to decongest the traffic and connect with EM Bypass. Metro rail and suburban railway connectivity are at a stone throwing distance that calibrates the ease of commuting further. The retail penetration is also quite prominent here with reputed malls namely Wood Square Mall where brands like Big Bazaar has anchored its operations. Other prominent retailers like Spencers, More, Great Eastern are also operating with full vigour. Competition especially in the residential market is quite high and the developers are coming up with several projects with state-of-the art facilities at reasonable prices. The capital values here hovers in the range of Rs. 2700 to Rs. 3500 per sq.ft. which is quite affordable in the current scenario.

Followed by Narendrapur, Rajpur is another area that has drawn the attraction of end-users significantly for affordable yet luxurious living. Mainly the connection of NSC Bose Road and Southern Extended Bypass has triggered the area’s importance. Nature’s bounty is an additional aspect that attracts people to live in this serene yet close to central city nodes.