Better connectivity in sight, rush begins for suburbs

Distance is no longer a restriction for prospective buyers on the look out for a dream home. It seems people do not mind traveling a few extra miles as long as the location provides for convenience of commuting.
With the announcement of a number of transport and road infrastructure projects, property prices are shooting up in the suburbs.
The construction of Barasat-Raichak Expressway to be undertaken by the Salim Group has sent property prices rocketing in the Barasat-Madhyamgram area in North 24 Parganas.
A year ago, the cost of flats constructed by Bengal Shelter at Shishirkunj near Rajarhat hovered between Rs 1,300 to Rs 1,400 per square feet. The prices for the same properties have now gone up to Rs 1,800 per square feet. “There were practically no big real estate projects in the area even a year ago. Now, at least two giant corporate houses like a venture of Vedic Realty-Diamond Group and Fortune Group is underway. There are more in the offing,” said Swarajit Dutta Gupta, senior marketing executive of Pioneer Property Management Ltd.
He was speaking at a recent property exhibition organized by the Bengal chapter of Confederation of Real Estate Developers Association of India (CREDAI).
Even residential projects located near the Chapadali crossing at Barasat have prices, which was unthinkable even a year ago. The township to be developed by the Fortune Group will be located at a distance of 20 minutes from the Kolkata airport.
The same ripple effect of infrastructure projects was evident at Maheshtala in South 24 Parganas. The 8-km long flyover to come up from Jinzira Bazaar to Taratala junction has given an added impetus to the Eden City projects at Batanagar township in Maheshtala. “The flyover will be constructed under the JNNURM scheme. It will boost the infrastructure in the area and will definitely make the housing projects in the area more attractive for buyers,” said Biswadeep Gupta, General Manager, Eden Realty Ventures Private Limited.

2 Comments

  1. Economical Houses Pune
    Posted August 18, 2008 at 5:31 am | Permalink

    Yeah that’s true … the suburbs have been gaining popularity ..especially considering residential townships … This trend is very common in the suburbs of pune … where some excellent townships and properties have been coming up in recent times

  2. Posted August 19, 2008 at 1:07 am | Permalink

    It’s not just fancy roads and buildings that make a city livable. There’s a lot more by way of amenities that add life to it. By focusing on infrastructure that enhances quality of living, like parks, play grounds and thoroughfares, a city makes the grade. A city is more about the people that live in it. And while planning a city, it’s the people that should be thought of first, then the infrastructure needs to be developed. Similarly, the relatively new areas of Gurgaon, New Mumbai, Pune and Bangalore may have witnessed a deluge of real estate investment over the last decade, but they have failed to create livable urban spaces that really work. Gurgaon, a flashy boom town that has emerged almost overnight with shopping malls, condominiums and swank office towers, despite it being touted as ‘planned’ development, is hardly people-friendly. This is because it neither has a meaningful municipal waste disposal system nor a proper public transport network. As a result, the city, still half-built, already suffers from serious traffic snarls, power shortages and water-supply constraints.For more view- realtydigest.blogspot.com

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