It’s The Right Time To Invest in Rajarhat – The Would-be Smart City

Have you ever considered investing in the real estate properties of Rajarhat, Kolkata? If you have but looking for the right opportunity and time, why not invest now! World-class housing complexes with different sizes, shapes and prices of apartments are setting up in this proposed smart city. The government of West Bengal is all prepared to develop Rajarhat Newtown as smart city after it has got clearance from the center. With the announcement of the ambitious Rs. 100- core/ year Smart City project, the competition to having a residential apartment in New Town Rajarhat has started and investors have already begun investing to get profitable returns.

The Smart City Concept

With the smart city concept, the face of Rajarhat’s real estate property is going to change quickly as the area will bag all basic living infrastructures. The plan has already been handed over to the Union Urban Development Ministry. The officials opined that objective of the smart city plan is to promote facilities like core infrastructure and allow people to lead a quality life. The in-depth plan has been sketched by the National Institute of Smart Governance (NISG) suggesting latest and advanced web technology development. The proposal includes a township-wide WiFi coverage, sensor-based lights, solar powered vehicles and power supply, competent urban mobility and public transport, solid waste management solutions, robust IT connectivity, e-property tax system, video-based health care system, drone-based surveillance and numerous other high tech facilities.

Boom time for real estate investors

As the smart city starts to take shape, the real estate investors will find it greatly profitable to invest here. The reasons are:

- Smart City attracts more companies

US based multinationals such as Otis, HP and Cisco showed interest to partner with West Bengal. As per the sources, these giant MNCs are enthusiastically looking for technological collaboration with the State Government to assist in the smart city plans. In addition to that, the financial center located in Rajarhat will facilitate foreigners to make transactions in foreign currency for trading. HIDCO, 18 reputed financial firms and banks have taken considerable steps for the same. 

- Increase in employment opportunity

As MNCs have their eyes on the place, it is expected that this will open up more employment opportunities for IT professionals and others associated with the IT and ITES firms.

- Easy Financing Options and registration facility

Apart from state government staffs, easy home loans are also available for those who wish to purchase residential flats in Rajarhat Newtown. A host of government and private banks offer attractive home loan plans. Several real estate developers have come up with easy installment plans to facilitate buying.

Presently, Rajarhat Gopalpur Municiaplity has been set up in the area by the State Government will looks after all the administration work of the locality. So, once you purchase an apartment in Rajarhat, the registration process and formalities can be handled and completed swiftly.  

- Great resale and rental value

Various housing complexes and first-rate infrastructure

Leading real estate developers like Magnolia have come up with various residential apartments with sizes ranging from 2 and 3 BHK in various prices. The ultra-modern living complexes are stuffed with world-class amenities like cross ventilated layouts, rooftop garden, 24 hours generator backup, lift, intercom, play area for kids, landscaped garden, community hall etc.       

Rajarhat has smooth transport connectivity with flyovers and wide roads. It has schools and universities like DPS Megacity; JIS Medical College, Techno India College & IIT. It is close to Netaji Subhash Chandra Bose International Airport and also gives easy access to hospitals like Tata Medical Centre, Apex, OHIO Heart Hospital etc. The office sector in Ecospace, DLF, Infospace, DLF, Unitech also Sector V can be reached within 15 to 30 minutes. There is a proposed mono rail project and the development work for the same has already been started. For entertainment and recreation, you have shopping malls like Home Town, City Center-II, Axis Mall and Eco Park.

About The Author:

Prasanta Chowdhury is a leading business professional who is immensely experienced in the real estate market and posses sound knowledge about the same. Here, he discusses why it is the right time to invest in Rajarhat – the would-be smart city.