Development of Kolkata will be around areas near Metro -CREDAI

Kolkata: Future development of the city will mostly be centred on routes nearest to the Metro Railway, CREDAI Bengal President Harsh Vardhan Patodia said here on Tuesday.

According to him, areas on the outskirts or fringes, where Metro Railway connectivity has been announced, will see good growth in the coming days.

“Future development would include areas with Metro connectivity,” Patodia told reporters during a press conference.

Garia (located some 17 km from Kolkata) is one such area which has seen interest since Metro connectivity was announced. Apartment rates moved up — since Metro work began in the area — from around Rs 1,000-1,200 a sq foot to approximately between Rs 2,000 and Rs 2,500 a sq ft in 2011, when Metro work was nearing completion.

Post Metro connectivity, apartment prices are approximately at Rs 3,200-3500 a sq ft, industry sources said. Garia and adjoining areas were connected through the North-South Metro Railway line around 2011-12.

Work is already being carried out along the Joka-BBD Bag route that would connect the South-Western fringes of the city with its Central Business District.

Two other routes where work has begun include the East-West Metro Railway (connecting the twin city of Howrah to Kolkata’s IT hub in Sector V) and the New Garia-Airport line (for improving airport connectivity).

CREDAI Conclave

Meanwhile, CREDAI will organise a two-day national conclave in Delhi beginning December 13. Amongst the 9,000-odd members , some 900-odd are expected to participate in the national conclave.

Around 150 developers from Eastern India are expected to attend the conclave, Patodia said.