Neighbourhood Watch – New Town, Kolkata
New Town is a rapidly developing suburb of Kolkata which has gained significant prominence in Kolkata’s real estate market. New Town brings together residential neighbourhoods, commercial centres and corporate complexes, thus offering a whole new concept of fully independent living.
Lined with high rise apartment complexes and IT corridors, New Town is the next big thing to happen to Kolkata. The rapid development of properties in New Town has brought it under the scanner of aspiring investors and homebuyers.
Located in North 24 Parganas district of West Bengal, New Town enjoys all the benefits of being located close to Kolkata. It is linked to Kolkata by the VIP Road and also the Rajarhat Road. The Kolkata Airport lies just 10 odd kilometres away from New Town, which is located on the North Eastern side of Kolkata.
New Town is largely frequented by business travellers who look for temporary accommodation in this suburb, and it is also very convenient for transit passengers who wish to reside close to the airport. This has led to several hotels being launched in New Town, a few of which include Swissotel Kolkata, O2 Hotel, Hotel Shivangan and King’s Crown Road.
Shopping malls and recreation
New Town is one of the best recreational hubs in and around Kolkata. Ranging from water parks, amusement parks, yoga and meditation centres to picnic areas, there is more than enough to do in New Town. There are also several shopping malls located in New Town which include Home Town, Galleria Mall, Xtra Mall Axis Mall and The Terminus.
With the development of property in New Town, several schools and colleges have set up institutions in this neighbourhood. A few of these include names like Calcutta Public School, BP Poddar Institute of Management and Technology, North Point School, EuroKids VIP Road and St. Stephen’s School.
Hospitals and Banks
New Town is in the process of developing medical facilities and healthcare centres, and all important clinics and hospitals in and around Kolkata are connected by the VIP Road. New Town also has several operational banking facilities including State Bank of India, Central Bank of India, HDFC Bank, Corporation Bank, ICICI Bank and Axis Bank.
Real Estate in New Town
Real estate in New Town is rapidly developing, with 7 total projects running, including successfully completed projects like Uniworld Vista by Unitech, Ujjwala the Condoville by Ambuja Realty and Greenwood Park Extension by Shrachi Group. There have been 4 new residential properties which have been launched since January 2013 with about 500 units in projects including Rishi Ecoview and Olympus by Magnolia Infrastructure. The minimum price of property in New Town is Rs. 3,700 (Olympus by Magnolia Infrastructure) and the maximum price is Rs. 4,400 (Rishi Ecoview), bringing the average price to around Rs.4000 per sq. ft.
Visit PropTiger.com for the latest details on new projects in New Town and other areas in Kolkata.