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Infrastructure Boost For Property Price Tags

By siddharth22, Section Real Estate
Posted on Tue Nov 13, 2007 at 10:39:54 PM EST

If poor infrastructure held back real estate prices in Howrah all this while, then that's about to change. With the Tata Motors small car plant in Singur and two upscale townships coming up, it's still some way before land prices reach a crescendo.

Experts feel Salim-Ciputra group's Kolkata West International City project in west Howrah, DLF's proposed township in Dankuni and the small car plant in Singur will redefine the industrial landscape in the Howrah-Hooghly belt and consequently push up real estate prices to unprecedented levels.

The support infrastructure that's coming up for Beyond Limit International's (a Salim-Ciputra company) proposed township on 390 acre in west Howrah will greatly reduce commuting time to Kolkata.

Less commuting time and worldclass housing infrastructure would mean that more people from Kolkata may feel tempted to live in west Howrah. Salim and Ciputra have proven expertise in township development and their involvement with the west Howrah project would only add to the attractiveness of the venture.

Property prices in west Howrah have already zoomed over seven times to Rs 1.80 crore per acre in the last four years from Rs 24 lakh in 2003. The rise is even more startling if one considers 2001 as the base year when the price per acre stood at Rs 12 lakh.

With land acquisition for the 5,000-acre township in Dankuni starting after Kali Puja, decks are now being cleared for one of the biggest infrastructure projects in the state.

During the first phase of the Dankuni project, KMDA would acquire 1,500 acre by April-May 2008. The balance land would be acquired in four phases.

"Dankuni will become a second Kolkata once the project comes up in a few years from now. We are confident that the project would have a positive impact over the entire region stretching up to Howrah," said A S Minocha, DLF commercial developer chairman.

The car factory in Singur would mean the advent of several ancillary units in both Hooghly and west Howrah. More manufacturing facilities would mean an increase in the number of jobs and greater need for housing facilities. This would lead to more realty players eyeing a slice of the potential business in the Howrah-Hooghly region. The resultant hike in real estate prices could be anybody's guess.

Source:The Times Of India,12-11-07

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