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Somasroy Chakraborty

Kolkata, Oct. 17 The West Bengal Government’s plan to develop small airports across the State is likely to have a positive impact on real estate prices in places where they have been proposed.

Industry players and analysts feel that once construction of the airports in Behala, Kanchrapara, Barrackpore and Balurghat take off land prices in the region are likely to appreciate by at least 60-70 per cent from the current levels.

“The proposed airports will definitely have a positive impact on real estate prices in the State. IT/ITES companies normally vouch for land near the airport.

“The proximity to Netaji Subhas Chandra Bose International Airport has seen land prices in New Town Rajarhat appreciating by more than 100 per cent over the last two years,” Mr Sujoy Anand Prasad, an analyst with Jones Lang LaSalle Meghraj, told Business Line.

Real estate prices near Behala, Kanchrapara and Barrackpore airstrips are still relatively low and developers have started queuing up to acquire land in the region.

According to industry experts, unlike Rajarhat which has a land bank of 5,775 hectares, the other places do not offer large land parcels.

Developers will concentrate on developing small and mid-sized mixed use projects.

In a bid to overcome the limited land supply, developers are also planning to take over sick or closed factory units and use the land for real estate projects.

More Stories on : Infrastructure | Real Estate & Construction | West Bengal

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