ASANSOL MARKET OVERVIEW
May-2010
CORPORATE SERVICES
RETAIL
RESIDENTIAL
LAND
HOSPITALITY
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INVESTMENT
A MEGA CITY IN THE MAKING AREA
NAME OF THE URBAN AREA ASANSOL U.A. (a) Asansol (b) Kulti (c) Bhanowara (d) Jamuria (I) Charanpur (e) Jemari (J. K. Nagar Township) (f) Raniganj (I) Sahebganj (II) Egara (III) Nimeha (g) Amkula (h)Murgathaul (i) Raghunathpur (j) Ballavpur NAME OF THE URBAN AREA
Asansol is a sub-division of district Burdwan and the third largest city in West Bengal, after Kolkata and Howrah.
(in Sq. Ft.)
361.93 127.87 99.67 4.11 73.23 2.63 4.24 23.44 1.66 3.66 3.85 3.01 2.12 0.87 1.67
Asansol is a divisional headquarters of the Eastern Railways. The city has very good road and railway connectivity with Kolkata, and lies near the border of the state of Jharkhand. Asansol Urban Agglomeration area population is over one million and its area is over 360 sq.km. The city's economy is based on primarily the coal and steel industries
POPULATION PERSON
MALE
FEMALE
10,67,369 5,64,837 5,02,532 ASANSOL U.A. 4,75,439 2,50,886 2,24,553 (a) Asansol (b) Kulti 2,89,903 1,52,821 1,37,082 (c) Bhanowara 7,732 4,097 3,635 (d) Jamuria 1,29,484 68,695 60,789 (I) Charanpur 3,301 1,609 1,611 14,074 7,757 6,317 (e) Jemari (J. K. Nagar Township) (f) Raniganj 1,11,116 59,270 51,846 (I) Sahebganj 4,159 2,203 1,956 (II) Egara 5,712 2,883 2,829 (III) Nimeha 1,794 930 864 (g) Amkula 5,934 3,478 2,456 (h)Murgathaul 7,850 4,342 3,508 (i) Raghunathpur 5,480 2,955 2,525 (j) Ballavpur 5,391 2,830 2,561 Source: Census Report - 2001 St. Vincent’s High & Technical School, Asansol
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Eastern Coalfields Ltd. (ECL) has its headquarter at Sanctoria, near Asansol. The largest employers of Asansol are Eastern Coalfields and IISCO (Indian Iron & Steel Co.) with its integrated steel plant at Burnpur. Other major industries are Chittaranjan Locomotive Works, Hindustan Cables, Disergarh Power Supply, Damodar valley Corporation (DVC), Burn Standard, Reckitt and Coleman, McNally Bharat, couple of cement plants and quite a few refractories. Asansol is the main educational hub for the entire population of the coal belt from Dhanbad to Ranigunj. The Eastern Railway School, St. Vincent's High and Technical School, St. Patrick's Higher Secondary School, Assembly of God Church School, Ramakrishna Mission, Loreto Convent and Burnpur Riverside School are amongst the oldest and most respected schools in eastern India. There are four colleges, an engineering college and two polytechnics in Asansol. LAND
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9, Elgin Road, Kolkata 700020 Tel : 91 33 40401010 Fax : 91 33 40401040 E-mail : Sales@nkrealtors.com Web : www.nkrealtors.com
STEPPING INTO A BRIGHT FUTURE HOUSEHOLD INCOME & EXPENDITURE Rs/Household.
6000 5000
4906
5518
4000
5063
3247
3000
4955
3820
3570 2668
2671
2442
4722
4852
3526
2031
2808
2629
2000 1000 0
DMC
Kulti
AMC
Raniganj Jamuria
Average Household Income (in Rs.)
NMU
Rural
ADPA
Average Household Expenditure (in Rs.)
POPULATION DENSITY-ADPA (PPSQKM) 1592
ADPA RANIGANJ
4740
JAMURIA
1768
DURGAPUR
3200
ASANSOL
3718 2912
KULTI
Asansol and Durgapur are going to be upgraded as a mega city after Kolkata in West Bengal.
Source: Census Report - 2001
UP COMING GALAXY MALL-ASANSOL
In the next five years, about Rs.55,000 crore will be invested in various projects like giant industries, integrated townships, airports etc. in Asansol and Durgapur Planning Area . ADDA has prepared a report to introduce chartered flight from IISCO’s airstrip in Burnpur to various destinations like New Delhi, Kolkata, Ranchi and Siliguri. The merger of IISCO and SAIL, with an estimated investment of Rs.8000 crores, has uplifted the economical face of Burnpur and Asansol. Burnpur itself is a town of rich culture and educational development. New developments in the form of Videocon’s Steel plant at Jamuria (10 kms from Asansol), Bhushan Steels new plant at Salanpur (10 kms from Asansol), upcoming 3500 acres airport along with township at Andal. (20 kms from Asansol) are also in the pipeline. Integrated new townships, shopping Mall & Multiplexes and star category hotels all are coming up at Asansol. The mall and multiplex mania is going to catch Asansol within a couple of months with the opening of huge 3 lacs sq.ft. Galaxy Mall on Burnpur Road near Chitra Cinema.
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9, Elgin Road, Kolkata 700020 Tel : 91 33 40401010 Fax : 91 33 40401040 E-mail : Sales@nkrealtors.com Web : www.nkrealtors.com
ADDA IS SPEARHEADING THE DEVELOPMENT Major on-going Projects (Real Estate)
AS
AN
SO LU
RB
A residential township called “SHRISTI NAGAR”, a joint venture project of ADDA with Shristi Infrastructure Development Corporation Limited is currently under construction at Kanyapur with modern apartments, bungalows, shopping mall, multiplex and IT centre on over 90 acres of land.
AN
AG GL OM ER AT ION
ADDA (Asansol Durgapur Development Authority) a statutory body of the state government which is responsible for systematic urban development of ADPA (Asansol Durgapur Planning Area) has been spearheading development activities under its jurisdiction which extends from Panagarh to Barakar with a total area of 1615.90 sq. km. covering about 30 lakhs of both rural and urban population. ADDA has selected Asansol and other neighbouring four municipal towns such as Kulti, Jamuria, Raniganj and Durgapur which constitutes “Asansol Urban Agglomeration” as “Mission City” under Jwaharlal Nehru National Urban Renewal Mission. In order to transform the planning area into a world class urban center, IIT-Kharagpur (Indian Institute of Technology) has prepared the “Perspective Plan2025” for Asansol Durgapur Planning area.
Sugam Homes is developing the biggest residential project at Kalyanpur satellite township in Asansol comprising of plots and 1000 flats with all modern amenities. It spread over an area of 30 acres land. The first and largest shopping mall (3 lac sq.ft. with multiplex) of Asansol is coming up on Burnpur Road near Chitra more. The mall is going to be ready for fitout very soon. Anchor and multiplex along with food court and lot of leading national and international brands are going to be present in the mall. The mall will also have a hotel integrated within itself.
Major on-going Projects (Infrastructure) Indoor Stadium at Asansol. Sen Raleigh-Dhadka Link Road – aiming to have a circular connectivity within Asansol. Widening and strengthening of some major road within ADDA area. CORPORATE SERVICES
RETAIL
RESIDENTIAL
LAND
HOSPITALITY
WAREHOUSE
INVESTMENT
9, Elgin Road, Kolkata 700020 Tel : 91 33 40401010 Fax : 91 33 40401040 E-mail : Sales@nkrealtors.com Web : www.nkrealtors.com
REAL ESTATE TREND (RESIDENTIAL) DWELLING UNIT REQUIRED BY 2025
Asansol Residential Market
( Major Urban Areas of Asansol Durgapur Planning Area) Present Population
Area
Projected Population -2025
Additional Population
Additional Household
Present Shortage
Total DU required by 2025
(4.5perspns/HH)
Jamuria (M)
1,29,484
2,50,000
1,20,516
26,781
5,695
32,477
Kulti (M)
2,89,903
4,00,000
1,12,097
24,466
10,345
34,811
Asansol (MC)
4,75,439
7,50,000
2,74,561
61,014
13,598
74,612
Raniganj (M)
1,11,116
50,000
61,116
13’581
4,841
18,422
Durgapur(MC) 4,93,405
10,00,000
5,06,595
1,12,577
33,457
1,46,034
Total ADPA
24,50,000
10,74,885
2,38,419
67,936
3,06,356
1,49,9347
With a good number of large industries and mining areas in its vicinity, Asansol, an important commercial and industrial urban centre of West Bengal is fast shaping up as a megacity. With a large workforce, moderate per capita income, good connectivity and a large number of residential, commercial and educational establishments, Asansol has the potential to be emerged as an modern urban centre. Asansol residential market has witnessed a considerable increase in construction activity over the last couple of years. The merger of IISCO and SAIL, with an estimated investment of Rs. 8000 crores along with the huge investments from the power, infrastructure and steel sectors in Asansol Durgapur region has uplifted the economical face of Asansol and opened up the floodgate of real estate opportunity in and around Asansol. In fact the high salaried employees of IISCO at Burnpur which is catering almost the half of the high income bracket salaried people of Asansol is driving the residential demand of the city.
Source: Perspective Plan for Asansol Durgapur Planning Area: VISION-2025
PRESENT HOUSING DISTRIBUTION-ASANSOL 100% 20%
90%
10%
10% 30%
80% 70% 60% 50%
85%
70%
70% 90%
40%
There are quite a good number of residential standalone as well as township projects are coming up in the areas like Apcar Garden, Hill View, Chelidanga, Burnpur Road, Kanyapur, Dhadka, Murgasol etc.
65%
30% 20% 10% 0
15% Apcar Garden
10% Hill View
HIG
20% Burnpur Road
To meet the rising demand in the main residential areas, local developers are engaged in constructing of small stand alone apartment buildings on five to ten cottahs land. Burnpur Road, S.B. Gorai Road, Upper Chelidanga and Murgasol are the main hunting ground of these local developers. Apkar Garden and Hill View Is considered as the posh residential location in Asansol. Demand of apartments at Hill View has grown up over the years because the area is the home to most of the good schools like St. Vincent’s, St. Patrick's, Loreto Convent, Mary Gorethi etc.
5% Chelidanga
Murgasol
MIG
LIG
RESIDENTIAL SALE RATES Location Apcar Garden Hill View (S.B. Garai Road) Burnpur Road Hindustan Park (on G.T. Road) Upper Chelidanga Kanyapur Dhadka (on new bypass) Murgasol
Rs./sq.ft. 1200-1500 900-1400 1200-1600 1500-1800 1200-1400 1400-1650 900-1200 900-1200
Residential prices currently vary between Rs.900 and Rs.1800/sq.ft. in Asansol. The Anand Enclave on G.T. Road at Hindustan Park is selling at Rs.1800/sq.ft. which is currently the highest residential rate in Asansol. The selling rate of apartments in Shristinagar varies between Rs.1600 and Rs.1650/sq.ft.. Apartments in Sugam Park at Kalyanpur in Dhadka are selling at around Rs.1200/sq.ft.. More organised sectors are planning to tap into Asansol’s huge potential such as Paharpur Group.
Source: NAI NK Realtors Research CORPORATE SERVICES
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RESIDENTIAL
LAND
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9, Elgin Road, Kolkata 700020 Tel : 91 33 40401010 Fax : 91 33 40401040 E-mail : Sales@nkrealtors.com Web : www.nkrealtors.com
REAL ESTATE TREND (RESIDENTIAL) PRICE GROWTH TREND
Developer’s/Builder’s Activity Public Sector West Bengal Housing Board (WBHB) and Railway Welfare Organization (IRWO) is engaged in construction in this Region.
Rs. Per sq.ft. 1800 1600 1400 1200 1000
8 00 600 400
200
0
Apcar Garden
Hill View
Burnpur Rd. Hindustan Park
Kanyapur
Murgasol
2006
S. Dhadka
2010
The above graph indicates the highest residential rates. Source: NAI NK Realtors Research
Private Sector Around 50 builders are operating here. Around 8-10 A Type builders – Bengal Shristi, Sugam Homes etc. B Type and C Type builders are more in numbers and around 25-30 B type builders are operating here. Mishra Associates, A.K. Construction, NIIT Builders, Purosottam Developer Pvt. Ltd., Classic Construction are some well known builders in this categry. Accommodation Preference Preference of plots are higher. Demands for plot are in the range between Rs. (4 – 8) lacs per cottah. Demands for apartments are in the range of 900-1200 sq.ft. Pricing of Apartment Minimum Rs. 900 per square feet Maximum Rs. 1800 per square feet
Ongoing Large Residential Projects Shristinagar
Shristi Nagar at Kanyapur
Bengal Shristi, a leading real estate company is developing a township near the town at Kanyapur in joint venture with Asansol Durgapur Development Authority. The township is spread over 90 acres with a total development of 6 million square feet and will have lifestyle, Apartments, Group Housing, Bungalows and Row Houses, Shopping Mall, Multiplex, Business Hotel, Club-cum-Resort, Office space, IT Park, Amusement Park and Restaurant. Sugam Park
Sugam Park at Kalyanpur, South Dhadka CORPORATE SERVICES
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RESIDENTIAL
Sugam Park is one of the biggest residential projects of Asansol with around 1100 flats and ploted developments is coming up at kalyanpur Satellite Township Project (KSTP), the planned zone of Asansol spread over an area of 30 acres. LAND
HOSPITALITY
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INVESTMENT
9, Elgin Road, Kolkata 700020 Tel : 91 33 40401010 Fax : 91 33 40401040 E-mail : Sales@nkrealtors.com Web : www.nkrealtors.com
REAL ESTATE TREND (RETAIL) Asansol Retail Market With a population of more than 1 million, located in the center place of surrounding coal mines and presence of various large and medium scale industries in the vicinity, Asansol is emerging as an attractive destination for the growing retail market. Asansol started catching up with the mall and multiplex mania. The first mall is going to hit Asansol within a couple of months with the opening of huge 3 lacs square feet. Galaxy Mall on the Burnpur Road near Chitra Cinema. Kolkata based Srijan Realty and Avani Group is developing the mall. Retail major BigBazaar and multiplex operator Eylex has already finalised deals to put their footholds in Asansol. The overall picture of retail in Asansol is mixed in nature. Central Bus Stand and its adjacent areas on G.T. Road are the main retail centre have different format retailing, consists of shopping centres and conventional shops. Shops in the main market area are mainly municipal authorities property and have developed along the G.T Road, however, majority of them are unorganised. Presence of branded stores are in Murgasol area on GT Road where local private developers have developed a good number of commercial buildings like P.C. Chatterjee Market and Chatterjee Plaza at Rambandhutala, Parvati Shopping Arcade at Ashram More, commercial buildings at BB College More, Ushagram etc. Commercial buildings are also present in the areas like Burnpur Road, Vivekananda Road formerly Sen-Religh Road etc. ADDA has developed few commercial buildings in the main market area. At present Retail business is on a high, large format stores as well as brand shops embellish the main market areas across the Asansol market. Commercial developments are mixed in nature. Ground floor and 1st floor are occupied by the retail brands, Banks & Restaurants and upper floors are occupied by the offices and dominated by mainly insurance companies, share trading firms and IT educational institutes. Asansol is already a home for various exclusive outlets of several leading retail brands like Raymond's, the Loot, Charlie Outlaw, Spykar, OYO, Bazar Kolkata, Citimart, Peter England, Levis, Gini & Jony, Liliput, Welhome, Kouton's, P.C Chandra, D'damas, Senco, Jawad Habib, Bata, Reebok, Khadim, Sree Leather's , VIP, LG Shoppe, Godrej and so on. Local retail brands like S. K. Ghanty & Sons, Mohan, Super Bazaar have some exclusive retail stores at Asansol. With two large outlets, Mohan is the well known family store in Asansol for quality branded garments. Current rental values in Asansol ranges between Rs 30 to Rs. 70 per square feet per month and capital values are in the range between Rs. 3000 to Rs. 10,000 per square feet. Considering the high disposable income of local and surrounding population along with the opening of Galaxy Mall in the next few months, Asansol retail market is going to be one of the booming markets in this region. CORPORATE SERVICES
RETAIL
RESIDENTIAL
LAND
HOSPITALITY
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INVESTMENT
9, Elgin Road, Kolkata 700020 Tel : 91 33 40401010 Fax : 91 33 40401040 E-mail : Sales@nkrealtors.com Web : www.nkrealtors.com
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