Focussed Real Estate Development in Durgapur

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Durgapur - Known by its steel plant and other heavy industries that came up subsequently, Durgapur is also experiencing a rush of real estate activity. Located 160 kms West North West of Kolkata, the city’s informed populace is welcoming the residential and commercial projects that are being introduced by private builders in Durgapur.

Commercial Property: The SPS Synergy Knowledge and Health City is scheduled to come up with a 500 bed hospital cum private medical college, super specialty clinics, Medicare centre, nursing college, dental college, pharmacy college, paramedical college, international school, media and management college, technology colleges and indoor sports complex. Residential apartments, shopping malls and hotels in Durgapur will complement the educational facilities the 300 acre township will offer. At a cost of Rs. 600 crore spread over 7 years, the project is expected to generate employment for over 10,000 people. An old age home, homeopathy, naturopathy and pharmacy units will be added in the 3rd phase of construction.

The retail fever has caught on with small towns in West Bengal, as in the rest of the country, and the local market is open to shopping malls, with retailers pitching for commercial spaces in Durgapur. While Bengal Shrachi Housing Development is building a shopping mall in Durgapur, Pantaloons is exploring property options to launch their stores. The Panoramic group, has revealed its plans to develop a 150-room hotel on 2.5 acres of land in Durgapur.

Durgapur’s Software Technology Park was set up in 2005 in Bidhannagar, as part of the West Bengal’s Government’s policy of making the state an IT hub.

Residential Property: Modern housing is making a mark in the steel city, with Bengal Ambuja’s township, Urvashi spread over 94 acres north of City Centre. Developed in association with the Durgapur Asansol .Development Authority, the Urvashi project met the long standing need of Durgapur’s residents for quality housing. Bengal Shrishti entered a joint venture with the Asansol-Durgapur Development Authority for real estate projects in Durgapur and Asansol. Their first project Shrishtinagar, an integrated township designed by SembCorp Infrastructure of Singapore is spread over 90 acres in Kalyanpur and provides for residential apartments and independent houses, commercial spaces and entertainment zones.

The Joint Venture has developed the Durgapur City Centre on 3.7 lakh sq. feet, with a deluxe hotel in a tie-up with the Radisson Group.

Durgapur could well become a centre for medical tourism once the SPS Synergy project takes shape. Infrastructure in the Asansol-Durgapur region has improved extraordinarily in the last few years, and if the IT and other industrial projects progress as per schedule, real estate in Durgapur is expected to grow proportionately.