West Bengal, and in particular, Kolkata, is emerging as one of the most promising property investment destinations. It has been looked upon as a strategic location for global growth and the state government is working on its plans to redevelop the city and restore its allure. Property market in Kolkata is fast flourishing on the back of new real estate projects introduced by prominent builders.
A part of the credit for Kolkata's growth also goes to growing IT companies. The city has survived several odds and trying to gain back its image in a new way. Improvements in the city are clearly visible though not very rapid. Industries in Kolkata are re-emerging with a boom, while the IT industry and brands are competing to get commercial space in peripheral locations of Kolkata.
As far as residential property sector in Kolkata is concerned, the apartments in prime locations have already been booked. And the residential projects in other locations are getting fair responses.
Close on the heels of Kolkata realty is Darjeeling property market which is likely to make rapid strides especially in retailing in near future. The famous Pantaloon Retail (India) Limited, a part of the Future Group, has announced to open the country's largest hypermarket store - Big Bazaar in Darjeeling. The project will mark the entry of booming retail sector in North East India.
Then, there is Durgapur, the well planned industrial metropolis of West Bengal. The city is primarily known for its steel plant and other heavy industries and is also expecting great rush of real estate activity with several builders coming up with their projects there. Panormic Universal Limited, a mid segment global hotelier, is to establish its presence with the development of an exclusive hotel in Durgapur.
Another project is to start by India's biggest real estate company, DLF. It is coming up with a residential Township at Durgapur City. The project will spread over an area of 95 acres.
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