Dhanbad Real Estate on Road to Development

Dhanbad, the commercial capital of Jharkhand is famous for its coal mines and industrial developments, chief driver of the city’s economy. Dhanbad is on the route of the Shatabdi Express and Rajdhani Express.

There are a number of prominent coal related companies in the city. The list includes Indian Iron and Steel Company (IISCO), Bharat Coking Coal Ltd (BCCL), a subsidiary of the Coal India Ltd (CCL).

The Indian School of Mines in Dhanbad is a deemed University for Undergraduate and Postgraduate courses and research in mining. It draws students from all over India as well as well as other countries.

The mounting demand and pressure on supply have been driving property prices in Dhanbad. The city has taken the road to development and is soon to become a seller’s market which promises to grow at a very fast pace.

Retail market in Dhanbad

Popularly known as coal capital of India, Dhanbad is witnessing a rising development in its IT market. Considering the channel perspective, the city’s growth rate is, however, moving at snail’s pace and IT market in Dhanbad is believed to be growing at a rate of 10-20 per cent annually.

Retailing in Dhanbad is what has been pursued by its IT market. Retailing is looked upon as the big thing in the city. 90 % of Dhanbad’s IT market is engaged in retailing segment and the remaining is into distribution. Some of the prominent brands which have been successful in carving out a substantial niche for themselves include Compaq, HP, IBM, and HCL. The listed brands are doing fairly well here.

The elite of shopping malls in Dhanbad are getting increasingly apparent as they are now no different than the shopping malls in Mumbai, Delhi or Bangalore.

As for upcoming retail projects in Dhanbad, Prabhatam Developers Ltd. is all set to lead a new era of retail in Dhanbad with the construction of an integrated international mall spread over 4.75 lakh sq ft.