Real estate sector in Kolkata witnessed major boom in the recent years. As per CREDAI Bengal, an industrial body, the real estate sector will witness further growth in the coming years. However, the areas that witnessed unprecedented growth are the outskirt regions of Kolkata like Joka and other such regions. Joka has been on the radar and is a known name because of the Indian Institute of Management, the most prestigious group of management institutions in India, located in the area. The recent interests of some major realtors in investing in various real estate projects in the area have further boosted the real estate development scenario in Joka. However, what truly raised the interest in the first place is the changing infrastructure development scenario in Joka. Quite obviously there’s a boom in the development of residential flats near Joka.
New proposed flyover
The longest flyover in India has been proposed to be built connecting Joka and Batanagar. This project, as proposed by the Government of West Bengal, when completed, will certainly improve the communication between Joka and other parts of the capital. At present this seems like a really ambitious project, but parts of the flyover construction is on track and if a flank connects Joka in future that will boost traffic considerably putting Joka on the radar of many more real estate developers in the nation.
Higher KMC budget allocation
The Kolkata Municipal Corporation has made it amply clear that they wish to develop the existing infrastructure of Joka and other key regions in Kolkata. Currently, availability of drinking water is not ample for the Joka region. The higher budget allocation is all set to tackle that problem and provide more and better supply of drinking water to the region as well as many more regions all across southern part of Kolkata.
Established education institution
Besides the prestigious Indian Institute of Management the Delhi Public School is yet another reputable education institution that has its presence in Joka. While there are some issues in terms of basic infrastructure existing in the region, the established educational institutions have already created a favorable environment for development of various residential complexes in the area. This is one of the reasons why major real estate developers are viewing Joka as a prospective investment zone which will soon see major growth in the demand for residential flats and complexes.
Metro project underway
The Metro network acts as the lifeline for the transport in Kolkata with a large section of north and south Kolkata already connected via the metro network. Further projects are underway and the Joka-Majerhat Metro project is among the ones that are hoped to be getting completed soon. Once done, this is going to be a key factor that will definitely boost the communication to and from Joka and will increase the demand for various residential as well as commercial complexes in the area.
Even though much of the infrastructures are still in the phase of planning or development, the plans in action are enough to boost real estate development in Joka. So, from an experts’ point of view if you buy a house in Joka , it’s definitely going to be a great investment.