subject: Residential Plots To Be Sold More In Rajarhat By Hidco [print this page] Housing Infrastructure Development Corporation of Kolkata has decided to sell more plots at Rajarhat New Town for setting up hospitals, educational institutions and many other. HIDCOs chairman cum Managing Director Mr. Debashis Sen stated that the matter was discussed in the HIDCO board meeting, that 15 plots in Rajarhat New Town in the range from a minimum of 20 cottahs to a maximum of two acres will be sold through competitive bidding process for setting up various institutions in the healthcare sector, training institutions, educational institutions and other similar commercial establishments.
The twin objective of this decision is to get additional infrastructure in New Town and offering the new employment opportunities. The residential plots to be sold will be free hold land as they are expecting lot of competition. The land will be falling under Rajarhats HIDCO jurisdiction. As Hidco is working on the process of selling two plots of two acres each for setting up a trauma care centre and a geriatric care centre. As the authorities have already received several applications from companies who have shown interest to set up these centers.
As the authorities are also planning to set childrens parks in New Town. The authorities are trying to utilise the land that is available to them since it has already been decided that there will be no further land acquisition in Rajarhat. The development of residential property in Kolkata that to in 6000 hectare wide in Rajarhat area that was earlier was under the jurisdiction of the dissolved Bhangor Rajarhat Development Authority is now under Hidcos control.
As Hidco is making an attempt to develop Rajarhat New Town as a futuristic good town and is in talks with developers to spruce up its civic infrastructure with stress on dredging, the sewage system and electricity connections with multinational IT giants like Wipro and Infosys on the brink of created campuses within the town, civic infrastructure should be full-proof.
As Rajarhat is found close to Netaji Subhash Chandra Bose airport rapidly rising satellite city in Kolkata. This space has witnessed quite 50% appreciation within the residential property in Kolkata throughout the past number of years. With the growth of IT and ITES sector beside SEZ property in Kolkata, land activities of Rajarhat enhanced manifold.
As the growth of the software industry around Rajarhat has generated strong influx of manpower from all over the country. Resulting, there is a great demand for residential property in Kolkata in appreciation of capital and rental values. As stated by Mr. Prakash Jha, there has been a 15-20% rise in capital values in Jan-Dec 2011 period as compared to the previous year.
As there are several new projects being launched within the area day-to-day by outstanding likewise as native developers and builders in both the reasonable and premium segments. Residential projects like Aster Garden and Shreshtha Garden supply reasonable homes to end users and are obtainable within the value vary of Rs 1,800-2,000 per sq ft. Whereas projects like Uniworld City-Cascades and Rameswara Waterview are the premium projects providing lifestyle options and specifications to the end-users.
A newly launched premium project is obtainable within the value bracket of Rs 2,300-2,500 per sq ft. Newly launched projects are seeing sensible variety of transactions and queries and a median 10 percent appreciation is predicted in each six months, as told by Sree Kumar from trendy Properties.
In the resale section, capital values of apartment on a median vary from Rs 2,500-5,000 per sq ft. Rajarhat is an upcoming locality with huge potential. Driven by factors like sensibly connected, well-developed infrastructure and presence of all basic facilities, Rajarhat is ready to become one among the upmarket localities of Kolkata.
