5 Reasons You Should Invest In Kolkata's Salt Lake City

The suburban towns of Kolkata have recently witnessed tremendous growth in terms of new commercial developments and emergence of IT hubs. Situated 8.5 kilometres from the city centre, Salt Lake City or Bidhannagar is one of the sought-after locations. This planned satellite town, built on a reclaimed salt-water lake, has now become the hub for several new IT companies. Demand for residential properties in Salt Lake City has increased in the past decade, and the area now holds a plethora of housing options for professionals working nearby.

Propguide lists five major reasons for investing in Salt Lake City:

Proximity to IT hubs

A cluster of IT offices has grown in Salt Lake City. Branches of renowned IT companies such as Wipro, TCS, Accenture, IBM, Tech Mahindra, Genpact, HCL Technologies, NIIT Technologies, Siemens, Cognizant Technology Solutions, Capgemini, Deloitte and Lexmark are located here. The location is the best choice for temporary residents including business travellers and professionals working in these companies.

Salt Lake Sector V is one popular sub-locality which houses many under-construction and established business and IT parks. Commercial office spaces are also available in abundance.

Easy connectivity

The Eastern Metropolitan Bypass (EM Bypass) links the area to localities in south Kolkata. A Metro link to Salt Lake City under the second phase of the East-West Metro Project is likely to be operational by December 2020. This will boost connectivity from Bidhannagar to other parts of the city. The Metro route shall connect Howrah Maidan (East) to Salt Lake Sector V (West). With the Netaji Subhash Chandra Bose International Airport at 13 kilometres and the Bidhan Nagar Road Railway Station in the neighbourhood as well as good public transportation makes commuting from Salt Lake fast and convenient.

High liveability quotient

All the basic infrastructural facilities and luxury lifestyle amenities are available to meet the everyday needs of the residents. Salt Lake City is also home to a number of academic institutions such as International School of Business and Media, Institute of Engineering and Management, National Institute of Fashion Technology, Indian Institute of Foreign Trade, Kolkata and Bharatiya Vidya Bhavan. Presence of top-rated hospitals, shopping centres, leisure parks, entertainment spots, eateries and retail hubs add a metropolitan feel to this location.

Attractive rentals and pricing

The average capital value of apartments in Salt Lake City is Rs 5,000 per sqft. Accommodations of 2BHK sized at 950 sqft have an average price of Rs 40 lakh whereas 3BHK apartments of size 1,300 sqft have an average price of Rs 70 lakh.

Bidhannagar, named after the second chief minister of West Bengal, Bidhan Chandra Roy, has a high demand for homes among working professionals and homeowners can expect excellent returns. For a renter, an average 1BHK apartment of 650 sqft is available for rent at Rs 8,000 per month. Prices indices of residential properties in Salt Lake City has increased significantly in recent months and experts predict good return on investment (ROI) for investors in this micro-market.

Green city features

Availability of land parcels has augmented real estate developments in Bidhannagar and the future looks bright for this suburban locality. Bidhannagar (Salt Lake) municipality was one of the four municipality areas alongside New Town, Haldia and Durgapur which may come under the Centre's 'Smart City' scheme. However, after the West Bengal government decided to opt out of the Smart City Project, there are plans to develop New Town-Rajarhat and areas in Salt Lake City into a 'green city'. This will imply that there will be construction of more green buildings in line with the norms of the Indian Green Building Council (IGBC).