Metro Boom! How the Most Aggressive Expansion in the History of Kolkata’S Metro Rail Is Likely to Transform the Scale and Scope of the City’S Real Estate Industry
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real-TM Magazine sponsor tiestiesKolkata’s only real estate magazine I Vol 10 I Issue 1 I April 2014 THE COMING METRO BOOM! HOW THE MOST AGGRESSIVE EXPANSION IN THE HISTORY OF KOLKATA’S METRO RAIL IS LIKELY TO TRANSFORM THE SCALE AND SCOPE OF THE CITY’S REAL ESTATE INDUSTRY. NEW LAUNCH PRATHAM BT Road Land area: 253 cottahs Number of apartments: 377 Open space: 72.5 percent Number of blocks: 5 Unit sizes: 1,255 – 2,150 sq ft (SBA) Location: 26 B.T. Road, Kolkata 700 058 Number of floors: 17, 18 Completion time: 36 months + six Developer: Dhoot Realtors Pvt. Ltd. and 19 months grace period The developer speaks: “Dhoot Pratham is unique in its segment as it is the only project which provides spacious and luxurious living in BT Road. Its apartments are designed thoughtfully to provide understated elegance and class. It is the tallest tower in the Dunlop area and provides seamless views to the Ganges from the higher floors. It is also vaastu compliant. Its landscaped water body with a deck provides a serene vibe to the entire project. Dhoot Pratham is also equipped with modern amenities to make your family’s life relaxed and comfortable. Say goodbye to narrow, confined living. Say hello to freedom. Say hello to life. Say hello to Dhoot Pratham.” Contact: 033 4040 1010/6620 1010 Email: [email protected] COVER STORY THE COMING N. K. Realtors (P) Ltd. 9, Elgin Road (4th Floor), Metro boom! Kolkata 700020, India Tel: 033 4040 1030 How the most Web: www.nkrealtors.com aggressive expansion For feedback, write to us at [email protected] in the history of Kolkata’s Metro Rail is likely to transform the scale and scope of the city’s real Magazine sponsor estate industry. A cover story by Home Loan Partner Radhika Bansal INSIDE Editor: Biplab Kumar Co-ordinator: Sanjay Adhikary Proof reader: Sandip Das Distribution: Abhijit Kar and Bandhu Sundar Ghosh Database management: Sonti Nag VAASTU PHENOMENON A DEVELOPER’S INSIGHT UNIQUE CORNER OF KOLKATA: Advertising: Anuraj Dhar ECOSPACE (+91 9674107979) Renowned architect J P Agrawal Sanjay Choudhary, Executive Director, Emami Realty, highlights Kolkata Pramod Dwivedi, Head, Real Estate Editorial support and design: talks about the cons of the vaastu phenomenon .........................................7 property development issues that could Marketing & Customer Care, Ambuja do with some improvement ............ 14 Neotia Group, explains how Ecospace Photographer: Roman compelled the best MNC and Indian Chakravorty corporate brands to work out of one DISCLAIMER corner of Rajarhat ............................ 18 The publisher, contributors and editor are not responsible in any way for the actions or results taken by any person or organisation on the basis of reading information, stories or contributions in this publication. The views expressed are their own. For all real estate queries, please call the customer care at: 033 4040 1010/6620 1010 anytime between 8 a.m. to 10 p.m. (IST), 7 days a week. THE CORNER COURTYARD MAINTENANCE IN AASHA UPCOMING PIN CODE APARTMENTS Content published in Real-Ties is an Megha Agarwal and Anumeha Tantia Prominent realtors highlight the exclusive intellectual property of the explain how the irst restoration project Chanchal Kumar De, Estate Manager dramatic transformation of the areas Department of Public Relations and of Aasha Apartments, explains the Corporate Communications – in Kolkata’s hospitality sector took stretching from the Garia Dhalai science that goes into maintaining a N. K. Realtors Pvt. Ltd. place amid challenges in a lane of Sarat Bridge to Baruipur ............................30 Bose Road............................................ 22 large apartment complex ..................26 N.B. For free circulation, not for sale. April 2014 /real-ties/2 EDITORIAL Urban distances are no longer measured in linear from 25 linear kms, the city’s metro network will kilometres; they are measured in commuting expand to 111 kms. This issue explores how this minutes. The one reality that has evolved this metro expansion will transform valuations and understanding has been the implementation developments. of metro rail. Metro rail runs with international Besides, the issue highlights how Ambuja Group’s precision, is largely independent of external landmark Ecospace transformed what was realities and provides reasonable commuting perceived as a dead location (New Town) into a comfort. The result is that a number of places in commercial showpiece. The issue also discusses Kolkata are now measured by their distance from why Garia has emerged as one of the most sought- the metro line or station, the closer the more after Kolkata locations for real estate development; valuable. how Salt Lake and Bangur Avenue pose a model of Based on this yardstick, Kolkata’s real estate urban transformation and beautification. sector is poised for one of its biggest value We welcome observations at [email protected] transformations across the next few years. From one metro rail line, the city will soon have four; TEAM NK BAREFOOT IN THE PARK! CREDAI AWARDS 2014 TRANSFORMATION: SALT LAKE “HOW WE MADE BANGUR AVENUE PLASTIC-FREE!” Lata Bajoria explains how she created A review of the CREDAI Bengal Realty Salt Lake has transformed into one Mriganka Bhattacharya, Chairman-in- a fully organic garden with over 40 Awards 2014 in which the creators of of the most attractive pockets of Council of Ward 29, South Dum Dum plant varieties ...................................32 real estate in Kolkata, Bengal and East Kolkata. Debashish Jana, Member, municipality, explains how he pulled India were celebrated for the irst time! Chairman-in-Council of Bidhannagar of the impossible ..............................40 ...............................................................36 Municipality, highlights the change in Salt Lake’s gardens .............................38 MARKET TRENDS CSR: CREATING A BETTER GOSSIPWALLAH FREEWHEELING KOLKATA! NK Realtors keeps you updated on the Kolkata streetlights may soon get a Mudar Patherya on how his building’s Anindita Ray, CSR Head of the Siddha current market trends in the East – regulator! An auction where the selling residents igure out eccentric ways Group, provides an insight into the retail, residential and commercial ..44 price of apartments is higher than the to counter paying their maintenance Group’s CSR agenda .........................50 market price! he proverbial ly on the charge for years on end! ...................54 wall picks up interesting stuf .........52 April 2014 /real-ties/3 Bonhooghly Tenement LIG Redevelopment Project integrated mass housing facility that will be as modern as it will be environment-friendly. his area is presently dilapidated but once complete will be transformed into an upgraded housing facility. “hese families have been staying without proper sanitation facilities and under unsafe conditions for many years now. his project aims Modern homes for initiative by the Refugee Relief & to provide the inhabitants lats (area Rehabilitation (RR&R) Department 60 sq.m.), with modern infrastructure low income owners. (Government of West Bengal), Siddha and facilities free of cost with the help Finally! Group and Eden Realty has made this of the government,” says Sanjay Jain, a reality. Initiated in 2006, this project Managing Director, Siddha Group. he No one ever felt that a low income inally commenced on 28th February, project is located in Bonhooghly, B.T. individual would ever get to live in a 2014. he result – Bonhooghly Road opposite the Indian Statistical modern residential complex, right? Tenement Project – expects to re- Institute. 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Brief contents: Responding to this two-year (distance learning) credit need, CREDAI Bengal entered into Email: [email protected] post graduation course in Valuation of arrangements with St Xavier’s College Real Estate leading to a post-graduate 3 Training and Certiicate degree. he course has been launched in and ILEAD to run six-month certiicate Program courses in Real Estate Management for Shillong and Kolkata. Scope: his certiicate course in Real graduates and inal-year college students. For more details please visit: www.iesma. Estate Management is a collaborative net 2 Certiicate in Real Estate initiative of National Real Estate Management Development Council and Career Skills 5 Certiication Course in Academy. Scope: his introductory course ofers Valuation & Real Estate a prelude to a more comprehensive Course highlights: he objective is to Management approach to real estate inance, marketing, impart specialised knowledge and skills Scope: IGNOU Institute of Vocational legal issues and projects management. to real estate agents, sales persons and Education & Training (IIVET) and direct sale and home loan agents in real Brief contents: he course comprises Institution of Estate Managers & estate principles, property laws, inancial Principles & Practices of Real Estate, Appraisers ofers a six