FINAL Kolkata Bro Page Extention 8 x 8 9th Feb 2010

February 2010

A reflection of the Kolkata Residential Property market

Popularly known as the second Hooghly Bridge, it is one of the longest bridges of its type in India and one of the longest in Asia.Vidyasagar Setu

The intellectual and

cultural capital of India,

Kolkata is the perfect

blend of a historical past and

contemporary developments.

It's a compelling city of

vivid contrasts. Past and

present are woven into a rich

tapestry of life that's quite captivating.

And today, Kolkata has

grown to be the business,

commercial, and financial hub of East India.

In this light, we present the

Kolkata Residential Real Estate

guide – an intensive study on the vast

realty opportunities that the city has to offer.

2

Kolkata: A Fact File

Administrative Framework & Population

Infrastructure

Road:

Rail:

Kolkata city, under the jurisdiction of the Kolkata

Municipal Corporation (KMC), has an area of around

185 sq. kms. housing a population of more than

4.5 million (census 2001). The area under KMC is

divided into 141 administrative wards.

Buses are the preferred mode of transport and are

run by both government agencies and private operators.

Kolkata is India's only city to have a tram network,

operated by Calcutta Tramways Company. Other forms

of public transport include taxis, auto rickshaws, cycle

rickshaws and also hand-pulled rickshaws which are

patronised by the public for short distances.

Kolkata is also known worldwide for its many bridges

that link the city to its sister city of Howrah, some of them

are Howrah Bridge (Rabindra Setu), Vidyasagar Setu,

Vivekananda Setu, Nivedita Setu, and Jubilee Bridge.

The Kolkata Suburban Railway connects various

parts of the city, suburbs and the nearby districts. The

Kolkata Suburban Railway connects the city to the

North 24 Parganas, South 24 Parganas, Nadia, Howrah

and Hooghly districts, just to name a few.

Major railway terminals of the city include Howrah

Station and Sealdah. Another terminal station named

'Kolkata' was launched at Chitpur, in early 2006. The city

is the headquarters of two divisions of the Indian

Railways - Eastern Railway and South Eastern Railway.

Kolkata is the capital of the Indian state of West Bengal.

It is located in eastern India on the east bank of the

River Hooghly.

In the 17th century, Job Charnock came to the banks of

the river Hooghly and took the lease of three large

villages - Sutanuti, Govindapur and Kolikata (Calcutta)

to establish British East India Company in the Bengal

region. The sites were carefully selected which were

covered by river Hooghly on the west and Salt Lake on

the east. The selection of sites was very important due

to the presence of a river. The villages were bought

from the land lords and the company was given the

right to carry on its trade with full autonomy by the

Mughal emperors with an annual premium of three

thousand rupees.

Before the British rule, Kolkata was a small village

and the capital of Bengal was Murshidabad which is

situated at a distance of 60 miles from the present city.

Calcutta was captured in the year 1757 by Robert

Clive by defeating Siraj-Ud-Daullah in the battle

of Plassey.

During the time of British rule in India, Kolkata played a

key role in both political and cultural reformation.

Eminent personalities like Subhash Chandra Bose,

Rabindra Nath Tagore, Swami Vivekananda, had

chosen this place as their 'Karma Bhoomi'. Till 1912,

Calcutta was the capital of India, housing important

establishments like the Supreme Court. The capital was

then shifted to Delhi and the city became the capital of

West Bengal.

3

Sea route: Kolkata is also a major port in eastern India.

The Kolkata Port Trust manages both the Kolkata docks

and the Haldia docks. There are passenger services to

Port Blair in the Andaman and Nicobar Islands and

cargo ship services to various ports in India and abroad,

operated by the Shipping Corporation of India. Also

there are ferry services connecting Kolkata with its twin

city of Howrah.

The Kolkata Metro

Airport:

is the oldest underground rapid

transport system in India. It spans the north-south

length of the city covering a distance of 16.45 kms. The

metro rail network has its terminus at Dum Dum in the

north and presently operates upto Garia in the south.

The city's sole airport, the Netaji Subhash

Chandra Bose International Airport at Dum Dum to

the north of the city, operates both domestic and

international flights.

SEZ Update

Source: Ministry of Commerce & Industry, Dept. of Commerce

Details of the SEZs (Special Economic Zones) located in Kolkata are tabulated as below:

Area (in hectares)

Name Location Type Status

South 24 Parganas

IT 10.11Under

ConstructionBata India Ltd.

Bengal Shapoorji Developers Pvt. Ltd.

New Town IT/ITES 20.23Under

Construction

-DLF Ltd. Rajarhat IT/ITES 10.48 Ready

M.L. Dalmiya and Company Ltd. South 24Parganas

IT/ITES 48.56 Under Construction

5. Oval Developers Pvt. Ltd.Electronics

hardware & software 11.78 N.A.

South 24Parganas

Tata Consultancy Services Ltd. New Town IT/ITES 16.19Under

Construction

Unitech Hi-tech Structures Ltd. Rajarhat IT/ITES 19.58 Ready

Wipro SEZ

Salt Lake IT/ITES 6.47 Operational

Sr.No.

1.

2.

3.

4.

6.

7.

8.

4

Major Locations within Kolkata

Note: Map not to scale and is for illustration purposes only.

Dum Dum

PaikparaJessore Road

Lake Town

Sinthimore

EMBypass Salt Lake

Rajarhat

Garia

Ballygung

Jodhpur Park

Jadavpur

Santoshpur

Tollygung

Bansdroni

Park Street

Camac Street

TheatreRoad

Loudon Street

Behala

Alipore

Dobson Rd(Howrah)

Joka

BT Road

KonaExpressway

Shibpur

Salkia

HooghlyRiver

InternationalAirport

hBelg aria Expressway

VIP Road

Dhakuria

NorthWest CentralEast South

5

years, over 5.1 million sq. ft. of additional mall space is

expected to enter Kolkata.

Presently, Kolkata has nine operational malls spanning

over 3.2 million sq. ft. distributed between the East (5

malls) and the South Zone (4 malls). Over the next two

Organised Retail Development

Kolkata Mall Space Distribution

Operational Proposed/Under Construction

Mall

Sp

ace in

Mill

ion

sq

. ft

.

East South West North Central

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

Details of mall space in Kolkata are tabulated below:

StatusArea in sq. ft.

(Approx.)ZoneLocationMall Name

Sr. No.

1 Block by Block Rajarhat East 170,000 Operational

2 City Centre Salt Lake East 400,000 Operational

3 City Centre Rajarhat East 500,000 Operational

4 Downtown Mall Salt Lake, Sec-3 East 187,000 Operational

5 Forum Mall Elgin Road South 125,000 Operational

6 Homeland Bhawanipur South 103,000 Operational

7 Mani Square EM Bypass East 600,000 Operational

8 Metropolis Garia South 141,000 Operational

9 South CityPrince Anwar

Shah Road South 1,000,000 Operational

10Axis Mall (Blk A, B & C)

RajarhatRashbehari - Ruby East 500,000 Completed but not

operational

11 Acropolis Connector South 300,000 Under construction

12 Avani Europa Jessore Road North 450,000 Under construction

6

7

Area in sq. ft.

(Approx.)ZoneLocationMall Name

Sr. No.

13

14

15

16

17

18

19

20

21

22

23

24

25

26

Avani Renaissance Thakurpukur South 450,000 Under construction

Avani Riverside mall Howrah West 500,000 Under construction

Barnaparichay College Street Central 120,000 Under construction

Conventional Centre Rajarhat East 300,000 Under construction

Courtyard Elgin Road South 40,000 Under construction

Gateway Kona Expressway West 300,000 Under construction

Heritage Strand Road Central 500,000 Under construction

Lake Mall Lake Market South 250,000 Under construction

Ozone Mall EM Bypass East 150,000 Under construction

Ozone Mall Madhyamgram North 200,000 Under construction

The Terminus Rajarhat East 550,000 Under construction

Downtown Mall Rajarhat East 500,000 Proposed

Howrah Mall Howrah West 450,000 Proposed

Sethia's Mall Dum Dum Nagar Bazaar North 50,000 Proposed

Source: ICICI Property Services

Status

8

Supply of Residential Units coming up by December 2012

North2 BHK

3 BHK

2728

1577

Sub total (North Kolkata)

2 BHK 4325

South

East

3 BHK 2558

4 BHK & above 826

Sub total (South Kolkata)

1 BHK 481

2 & 2.5 BHK 3133

3 BHK 3046

4 BHK & above 1214

900

1240

950

1350

2200

413

1100

1393

2245

Apartment TypeAvg Area of flat

(in sq. ft.)No. of UnitsZone

Total Area (in mn sq. ft.)

2.46

1.96

4.41

4.11

3.45

1.82

9.387709

0.20

3.45

4.24

2.73

4305

West

Central

Sub total (East Kolkata)

2 BHK 1500

3 BHK 1400

4 BHK & above 200

Sub total (West Kolkata)

2 BHK

3 BHK

1086

1398

2197

995

1410

150

68

10.61

1.67

1.96

0.44

4.03

0.15

0.10

Sub total (Central Kolkata)

Total Upcoming Residential Supply in Kolkata by Dec 2012 23206

0.25218

28.67

7874

3100

Source: ICICI Property servicesNote: The above represents some of the key developments and not the universe.

Kolkata would experience residential supply of around 23200 units spread over 28.67 million sq. ft. by Dec. 2012.

East zone and South zone combined together would witness around 70% of this residential development.

9

Source: ICICI Property ServicesNote: The above represents some of the key developments and not the universe.

Distribution of residential supply (no. of residential units) in the pipeline across Kolkata

1%19%

33%34%

13%

Central

East

North

South

West

A new high speed freeway that connects Kolkata Airport directly to the Mumbai Road and Delhi Road.

Belgharia Expressway

11

North Kolkata

• Recently it was announced that the metro railway

services would be extended to Dakshineswar and the

project is currently in the planning stage.

• This region houses several factories of jute milling,

tannery, iron & steel rolling, glass, soaps, etc.

• The Fortune Group has their ongoing project

'Fortune Township' at Barasat which plans to house over

560 units with in-complex leisure facilities like

swimming pool, Jacuzzi, air-conditioned community

hall, gymnasium, gaming room, etc.

• Other prime developers in this region include Avani,

Daffodil, Diamond Group, Godrej Properties, Prasad

Group, Shrachi, Space Group, and others.

Major Locations: BT Road, Dum Dum, Jessore Road,

Lake Town, Paik Para, Sinthimore and VIP Road.

• North Kolkata serves as a major check point to the

city as it houses key transport hubs like the Netaji

Subhash Chandra Bose International Airport (formerly

known as Dum Dum Airport) and the subway terminal.

• Connectivity is being improved further with the

KMDA developing Barrackpore-Dum Dum Expressway

and the PWD having undertaken projects for widening

of Jessore Road, widening and strengthening of

B. T. Road.

• Dum Dum also serves as the terminal for the Kolkata

metro railway in the north.

Residential Market in North Kolkata


Average Apartment Size of 2 BHK (in sq. ft.)

Average Apartment Size of 3 BHK (in sq. ft.) .

Total Supply (in mn. sq. ft.) by Dec. 2012

900

1240

4.41

4305Total Supply (in no. of units) by Dec. 2012 .

12


Distribution of Residential Supply as per Apartment Type: North Kolkata

3 BHK37%

2 BHK63%

Some of the Residential Projects in North Kolkata


2012

Expected Completion

2012

2011

2010

2011

2010

260

No. of

Units

40

480

1004

110

482

1900

Capi(Rs. / sq. ft.)

tal Values

3100

3001

2600-2700

2400

3500

Residency

Project

-

Exotica

Diamond North

City

ShrachiLakewoods

Daffodil La Bella

AvaniOxford

Space

Developer

Prasad Group

Diamond

Shrachi

Daffodil

Avani

13

Residential Property Rates in prime residential markets of North Kolkata

Source: ICICI Property Services*Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.

Outlook

R

R

S

S

Rentals for 2 (Rs./month)

BHK

5000

6000

4500

7000

Average Values (Rs./sq. ft.)

Capital

2000-2500

2000-3000

1100-1400

2500-3000

Location

Jessore Road

VIP Road

Dum Dum

Lake Town

Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen

VIP Road Jessore Road Dum Dum Lake Town Sinthi More Paik Para

Property Price Movement Index: North Kolkata

100

150

200

250

300

Mar '05 Mar '06 Mar '07 Jun '07 Sep '07 Dec '07 Mar '08 Jun '08 Sep '08 Dec '08 Mar '09 Jun '09 Sep '09

Property Price Movement Index

Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for Mar 05)

14

The real & logical (R&L) price is considered to move in

line with the consumer price index. Below table brings

out a comparison between quarterly property price

movements and changes in consumer price index for

Comparison of actual (A) and real & logical (R&L) price movement

North Kolkata. Since zone wise inflation data is not

available we have substituted the Kolkata inflation

figures for each zone.

Above chart depicts that the wide gap between the actual property price points and the real & logical prices in North Kolkata has almost remained constant over the years.

North Kolkata

0

50

100

150

200

250

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Sep

2009

North (A) North (R&L)

Kalighat Temple Dedicated to the Goddess Kali, it is one of the 51 Shakti Peethas.

16

South Kolkata

• Kolkata metro's much awaited new extended service, a

5.8 km link between Tollygunj and Garia was inaugurated

in August 2009. The new service is expected to ease out

the traffic in the south suburban section of Kolkata.

• Lakegardens Flyover has contributed to easing of

traffic in Golfgreen, Tollygunj and Lake Gardens which

has significantly benefited this region.

• This region also houses the 'South City Mall' at Prince

Anwar Shah Road, which is said to be one of the largest

malls in eastern India. The mall is spread over one

million sq. ft. and has around 130 outlets distributed

across five levels.

• Diamond Group has its ongoing residential project

'Diamond Residency' at Behala, which offers 2 & 3 BHK

apartments along with premium amenities.

• Sherwood Estate, a residential project by Heritage

Group, is spread on 15 acres at Narendrapur and is

strategically located as it is in close proximity with the

proposed eight lane express E M bypass and the Garia

Metro station.

• Some of the key developers in this region include

Belani Group, Calcutta Metropolitan Group, Shrachi,

Diamond Group, Forum, Heritage Group, Ideal, Mayfair,

Merlin Group, Mani Group, Park Chambers, PS Group,

South City and others.

Major locations: Alipore, Ballygunj, Bansdroni, Behala,

Garia, Jadavpur, Jodhpur Park, Joka, Narendrapur,

Santoshpur, Tollygunj

• Southern Kolkata is predominantly a residential area.

• Alipore along with Ballygunj & Tollygunj are amongst

the most exclusive and posh locales of Kolkata.

• Tollywood, the centre of the Bengali film industry,

is at Tollygunj.

• This region is home to some of the better

educational institutions in Kolkata.

• National Library, Zoological Garden, Birla Industrial

and Technological Museum, Indian Association for the

Cultivation of Sciences, Royal Calcutta Golf Club,

Tollygunj Golf Club, Kali Temple, etc., are some of

the important tourist places in the southern precincts of

the city.

• The famous Ramkrishna Mission Ashrama is

situated at Narendapur.

• The South 24-Parganas district headquarters is

proposed to be shifted to Baruipur, post which the

area development should spread from Narendrapur

to Baruipur.

• The southern regions are linked to central and

eastern regions by well established network of roads.

17


2011

2012

Ready

Ready

Ready

2011

2012

2011

2011

Expected Completion

76

90

1600

608

126

1000

74

No. of Units

60

111

2150

1900

4600

3100

1900

Capi(Rs. / sq. ft.)

tal Values

2150

4600

3251

3200

Heritage

Starlite

Southcity

Southcity

Mayfair

Developer

Heritage

Heritage

Diamond

PS Group

Sherwood Elite

Sunny Valley

South City Projects

South City Gardens

Mayfair Greens

Project

Sherwood Estates

Srijan Heritage Park - II

DC South

Jubilee Park

Some of the Residential Projects in South Kolkata

Residential Market in South Kolkata


Average Apartment Size of 2 BHK (in sq. ft.) 950


Total Supply (in mn. sq. ft.) by Dec. 2012 9.38

Total Supply (in no. of units) by Dec. 2012 7709


Distribution of Residential Supply as per Apartment Type: South Kolkata

2 BHK

56%

3 BHK

33%

4 BHK & above

11%

18

Residential Property Rates in prime residential markets of South Kolkata


15000

7000

5000

7000

4000

20000

20000


BHK

3500-4500

2000-2500

1500-2000

2000-3000

1400-2000

8000-12000

7000-15000


Capital

Jodhpur Park

Santoshpur

Garia

Tollygunj

Behala

Alipore

Ballygunj

Location

R

R

R

R

R

SS

SS

Outlook


Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)

Property Price Movement Index: South Kolkata

100

150

200

250

300


Ballygunge Jodhpur Park Jadavpur Santoshpur Garia Tollygunge

Bansdroni Joka Alipore Behala


19






South Kolkata. Since zone wise inflation data is not



It is evident from the above chart that, over the years, the property prices in south Kolkata have risen more than proportionately than the rise in the real & logical prices.

South Kolkata

0

50

100

150

200

250

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Sep

2009

South (A) South (R&L)

10

Also called Bally Bridge, it is a multi-span steel bridge that links Howrah to its twin city of Kolkata, at Dakshineswar.Vivekananda Setu

21

East Kolkata

several real estate companies have already built finest

residential complexes in Rajarhat.

• This region also houses renowned institutes like Saha

Institute of Nuclear Physics and S. N. Bose Institute.

• The Salt Lake City houses the famous 'Nicco Park'

which covers an area of around 40 acres and is

considered to be one of the biggest amusement parks in

the country.

• There are around five operational malls in this region

out of which Mani Square at E.M. Bypass and City Centre

at Rajarhat are the most prominent retail developments.

• Prominent developers in this region include Calcutta

Metropolitan Group, DLF, Heritage, Ideal, Keppel-

Magus, Fort, Mani, Park Chambers, Rosedale, Sanjivani,

Siddha, Shrachi, Shapoorji Pallonji, Srijan, PS, Tata

Housing, Unitech and others.

Major locations: EM Bypass, Rajarhat, Salt Lake

• Salt Lake City (Bidhan Nagar) is one of the largest

satellite townships in eastern Kolkata, where most of

the development of the area was done in 'sectors'.

• All the plots of land in Salt Lake City are leasehold

plots and the Urban Development Department directly

manages the land matters, while the Municipality is

responsible for sanctioning of building plans and

providing essential basic services and other civic

infrastructures of the township.

• Once a swampy stretch of land, the Salt Lake City is

now a hub of economic and social expansion and is

famous as the IT (Information Technology) centre of

the city.

• East part of Kolkata would witness around 37% of the

total residential development planned in the city.

• With the partnership of West Bengal Housing &

Infrastructural Development Corporation (HIDCO),

Residential Market in East Kolkata





Total Supply (in no. of units) by Dec. 2012

7874

22

Some of the Residential Projects in East Kolkata


Uniworld city

New Town Heights

Lake View

Hiland Willows-HIG

Heritage Enclave-PH 1& 2

Eden Court

Elita Garden Vista

Project

Unitech

DLF

Ideal Group

CMGL

HeritageRealty Group

Tata Housing

Keppel Magus

Developer

3200

3275

3600

2900

2200

2900

2600-2700

Capi(Rs. / sq. ft.)

tal Values

1100

250

110

199

165

208

1200

No. of

Units

Dec 2012

2012

2012

2012

2011

2012

2011

ExpectedCompletion


Distribution of Residential Supply as per Apartment Type: East Kolkata

1 BHK 6%

2 BHK

40%

4 BHK & above

15%

3 BHK

39%

23


Residential Property Rates in prime residential markets of East Kolkata

Outlook

SS

S

R


BHK

12000

10000

7000


Capital

2500-3000

3000

3000-5000

Location

Rajarhat

Salt Lake

E M Bypass



100

150

200

250

300


Rajarhat Salt Lake EM Bypass


Property Price Movement Index: East Kolkata

24






East Kolkata. Since zone wise inflation data is not



The actual property prices in East Kolkata have consistently exceeded the real & logical prices over a period of years

and as a result there has been a widening gap between the actual property prices and the real & logical prices.

East Kolkata

East (A) East (R&L)

0

50

100

150

200

250

300

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Sep

2009

Built in memory of James Princep – a brilliant researcher, it is one of theKolkata's oldest recreation spots from where one can have a glimpse of a large stretch of the beautiful Hooghly River.

Princep Ghat

26

West Kolkata

• Unitech has its ongoing project 'The Gateway' at

Kona Expressway which offers 2 & 3 BHK apartments

with amenities like club house, swimming pool,

gymnasium, kid's play area and sports facilities within

the complex.

• Retail mall space of around 1.2 million is planned to

enter this region in the next couple of years.

• Over 4 million sq. ft. of residential development is

expected to enter this region by 2012.

• Some of the prominent developers in this region

include Calcutta Metropolitan, Eden Group, Kolkata

West International City, Unitech, etc.

Major locations: Dobson Road (Howrah), Kona

Expressway, Mahesthala, Salkia, Shibpur.

• East West Metro, a Rs. 4800 crore project to connect

Kolkata with Howrah by an underwater metro line, has

been cleared by the Central government. The total

length will be 14.67 km (8.9 km underground and 5.77

km elevated). This line will be constructed and

maintained by a separate body named Kolkata Metro

Rail Corporation (KMRC).

• Dankuni, a fast growing industrial township to the

north-west of Kolkata, would become a significant

location as it would be the one end of the Ludhiana-

Dankuni leg of the dedicated freight corridor that is

being built by the Indian Railways.


Residential Market in West Kolkata

Average Apartment Size of 2 BHK (in sq. ft.)




1086

27


Some of the Residential Projects in West Kolkata

No. of Units

600

300

1800

Capital Values(Rs./ sq. ft.)

2675

2250-2650

2700

Developer

Unitech

CMGL

Eden

Project

Gateway

Calcutta Riverside

Eden City Mahesthala

Expected Completion

Dec 2012

2012

2012


Distribution of Residential Supply as per Apartment Type: West Kolkata

2 BHK 49%

3 BHK 45%

4 BHK & above 6%

28



Property Price Movement Index: West Kolkata

100

150

200

250

300


Dobson Road, Howrah GT Road, Howrah


Residential Property Rates in prime residential markets of West Kolkata

Outlook

S

S

Rentals for2 BHK (Rs./month)

8000

4500


Capital

2500-4000

1500-2000

Location

Howrah

Hooghly District


29

The gap between the actual property prices and the real & logical prices in West Kolkata has widened over the years as

is apparent from the above chart.

West Kolkata

0

50

100

150

200

250

300

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Sep

2009

West (A) West (R&L)






West Kolkata. Since zone wise inflation data is not



Jorasanko ThakurbariNow Rabindra Bharati University, it is the ancestral home of the Tagore family.

31

Central Kolkata

• Park Street, now named as Mother Teresa Sarani,

remains Kolkata's foremost dining district with noted

restaurants and eateries situated here.

• Places like the Victoria Memorial, Fort William, Eden

Gardens, Howrah Bridge (Ravindra Setu), Birla

Planetarium, etc. are amongst the popular tourist

attractions.

Major locations: Camac Street, Loudon Street, Park

Street, Theatre Road

• The residential buildings are mainly low rise and are

older colonial buildings.

• Residents of the central region mainly constitute the

upper class and business families.

• As compared to other regions of the city there is not

much residential development in this area due to

paucity of space.


Residential Market in Central Kolkata






Distribution of Residential Supply as per Apartment Type: Central Kolkata

2 BHK

69%

3 BHK

31%

32

Some of the Residential Projects in Central Kolkata

Project

Ideal Heights

Ekta Olender

Ekta Floral

Developer

Ideal

Ekta

Ekta

Capital Values(Rs./ sq. ft.)

3200

2600

2600

2010

Expected Completion

2011

2011

No. of Units

516 (approx. 100 units Balance)





Residential Property Rates in prime residential markets of Central Kolkata

Average Capital Values (Rs./sq. ft.)

10000-12000

3500-4000

7000 -8000

Rentals for2 BHK (Rs./month)

20000

10000

20000

Location

Park Street

Park Circus

Camac Street

Outlook

S

S

S



Property Price Movement Index: Central Kolkata

100

150

200

250

300


Park Street Camac Street Theatre Road Loudon Street

Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for Mar 05

33






Central Kolkata. Since zone wise inflation data is not



Although the property prices seem to have stabilised since mid 2008, the above chart depicts that there is still a

huge gap between the actual property prices and the real & logical prices in Central Kolkata.

Central Kolkata

0

50

100

150

200

250

300

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Sep

2009

Central (A) Central (R&L)

34

Location Attractiveness Index

Narendrapur appears to be scoring above other

locations due to the proposed infrastructure

development, proximity to commercial & retail

establishments and future employment opportunities.

We have short-listed below seven prime locations

within Kolkata and critically examined them on various

parameters like infrastructure, residential costs in the

region, future employment prospects, etc. as detailed

in the matrix below. EM Bypass followed by

Alipore Ballygunj E M Bypass Rajarhat Howrah – Kona

Narendra- pur

Airport to Barasat

Infrastructure (connectivity, roads, proximity to markets, schools)

Residential Cost

Proximity to / Presence of organised retail

Proximity to Commercial Development

Future Infrastructure Development

Future Employment Generation


Good / Low Cost

Above Average

Average / Medium Cost

Below Average

Bad / High Cost

35

About Research & Consultancy

from concept to conclusion. Research & Consultancy

(R&C), a specialised group within ICICI PSG, offers both

real estate advisory and consumer demographic

analysis backed by both primary & secondary research.

The following chart explains in brief the various

services offered by R&C.

ICICI Property Services is a division of ICICI Home

Finance Company Limited, a 100% subsidiary of

ICICI Bank. ICICI PSG provides real estate solutions

to home seekers, corporate investors, space occupiers

and developers / landlords. ICICI Property Services

addresses the entire bandwidth of a real estate deal

• Location Analysis

• Market Analysis

• Size, Pricing, Phasing

and Positioning

(Space Programming

& Demarcation for

Optimum Utilisation

of space)

• Financial Analysis

•Entry Strategy

•Pricing Strategy

•City and Region

Prioritisation and

Expansion Strategy

• Optimum Land Use

Analysis

• Site Analysis &

SWOT

• Catchment Analysis

• Trade & Tenant Mix

• Land Valuation

Feasibility Studies Asset Advisory Strategic Advisory Market Research

•Supply Estimation

•Demand Projections

•Expected Absorption

Trends

•Demographic Analysis

•Consumer Trends

•Consumer Behaviour

Analysis

Howrah BridgeAlso known as Rabindra Setu, is a famous symbol of Kolkata and West Bengal

Documents

FINAL Kolkata Bro Page Extention 8 x 8 9th Feb 2010