A quarterly round-up on real estate news | Vol 7 Issue | July 2010
real-ties inside this issue 2 NABC 2010 3 From Team NKÂ’s Desk 4 CSR: Think Green. Think Waste Management 5 Retail Destination In The Making 7 Asansol - A Preferred Destination 8 A Unique Initiative 10 PS Magnum | Shreshta Garden 11 Kolkata South
north american bengali conference 2010 30th NABC, hosted by ‘KALLOL of New Jersey’, was being staged during July 09 thru 11, 2010 at the fabulous Atlantic City Convention Center, New Jersey.
Since a significant number of Indian Americans are domiciled in this Northeast region, a footfall of more than 10,000 people made NABC 2010 one of the biggest events overseas.
NK Realtors, one of the biggest Real Estate Marketers in Eastern India, participated in this mega event and gets a perfect platform to exhibit some of the latest, state of the art hot properties in West Bengal targeting customers from a considerably larger assembly of people than normal.
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Greetings! Come July and Real-Ties is back again. This time with more scintillating news and updates to pace you up with the fast moving activities of NK Realtors.
Monsoon brings relief to sweltering Metro aftermath a long and dry spell of summer. With its advent comes for us a time of expectant waiting and preparation for the NABC 2010 (30th North American Bengali Conference) in the beautiful state of New Jersey, USA. Team NK s success lies in participation and winning accolades for exhibiting all latest hot properties in West Bengal to more than 10000 Bengali NRIs.
Is Bengal experiencing a continual change? The answer to this is ambiguous. For some, it is yes and true to their seeing is believing , the skyline is changing. Be it Kolkata or Asansol, thanks to the highrises (retail and residential) a clear indication is in air about propelled Economic Growth in India. NK is leaving no stones unturned bringing close to the mass and class of the state dwellers an opportunity to live and enjoy comforts of life full to the brim. Check out our website www.nkrealtors.com to witness our latest tryst with promoting the hot properties: PS Magnum, Shrestha Garden, Kolkata South Universal City etc.
Amidst all these we are still maintaining our focus and contribution for the upliftment and betterment of the society. Being a responsible corporate house, our recent association with the WAYE (World Alliance for Youth Empowerment) has borne fruits for the rehabilitation of Lily Pool located directly across Bengal Rowing Club in Rabindra Sarobar, Kolkata. Last but not the least, we are thinking of taking Waste Management to the next level by spreading the message of Beneficial Land Reuse.
Best Wishes
Team NK
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. .. t n e m e g a n a M e Think Wast Beneficial Land Reuse - The New Buzzword What does it really mean? To some people it can be translated as One man's land is another man's treasure! Industrial Byproduct, Waste Recycling, Beneficial Land Reuse, these are the same things. Landfills - A Waste Management Technique, give back to communities and the environment in unexpected ways. Not only do beneficial land reuse projects create environmental habitat programs, they also provide recreational areas like golf courses and bike parks to a number of communities nationwide. In addition, Waste Management develops landfills that are sources of clean, renewable energy that powers hundreds of thousands of homes and businesses across the country.
Landfills utilize the latest advances in landfill technology to protect local ecosystems and ensure long-term integrity. Many Waste Management landfills offer state-of-the-art bioremediation services for detoxifying contaminated soils. After treatment, treated soils can be safely disposed of in a landfill or transported off-site for other practical applications.
Innovative strategies and operational experiences help the Mankind leveraging liabilities and turning them into assets! Innovative environmental solutions resulting in a cleaner Environment!
Let us join hands...
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Retail Destination in the Making Tier-II & Tier-III Cities and Towns Growing middle and upper middle classes with increasing spending powers have propelled the retail growth in the country over the past few years. The retail industry went through a phase of unprecedented growth and expansion before the industry was stricken by the recession in 2009. Gradual stabilization of the economy together with the improving consumer sentiments has helped the retail market to gain its momentum.
Most of the retailers are back in expansion mode. The continued growth in the Indian economy with increasing urbanisation is pushing organised retailing into the Tier-II & Tier-III cities and towns. These cities and towns offer cheaper real estate prices. Low occupancy cost due to cheaper real estate prices and favourable demographics with growing purchasing power are the main factors that are driving the retailers to expand in these cities and towns.
Growing industrialization and rising opportunities in the service sector have helped to increase the purchasing power of middle and upper middle class in smaller cities and towns. At the same time, smaller towns and cities are also witnessing a rise in per capita consumption, increasing consumerism and a renewed media penetration, contributing to this change. These cities and towns, driven by public and private industries ranging from software services and financial services to education and manufacturing to trading and small-scale industries, to mining and automobile industries are witnessing various formats of retail, entertainment and hospitality developments.
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East & North East- A Boom Waiting to Happen
The market potential in the East and North-Eastern states has expanded over the years. Kolkata, the biggest metropolis and main business, commercial and financial hub of eastern India and the northeastern states have a strong presence of all type of retail brands and formats like other metro cities of India. Today, cities like Bhubaneswar, Cuttack, Shambalpur in Orissa, Patna in Bihar, Ranchi, Dhanbad, Jamshedpur, in Jharkhand, Howrah, Asansol, Durgapur,and Siliguri in West Bengal, Guwahati in Assam are also growing at a fast pace. There is an imminent growth story waiting to happen in these cities and towns in the east and northeastern part of India. All the above cities and towns with a population base of more than half a million are witnessing planned retail development projects.
The Tier-II & Tier-III cities and towns of Bihar, Jharkhand, Orissa and West Bengal have witnessed a surge in organised retailing over the last couple of years. A lot of new age commercial real estates in the form of shopping malls, multiplexes, restaurants, hotels have come up in these cities and towns. Most of the Tier-II & Tier-III cities and towns of eastern India already have the presence of various formats of value retailing brands like Big Bazaar, SpencerÂ’s, More, Reliance Fresh, Spinach etc. Big Bazaar of the Future Group, a leading Indian Hypermarket chain has their presence in most of these cities and towns of eastern India. At present, the demand for retail spaces in these cities is primarily from banks, single-branded & multi-branded stores and traders. National level brands like Raymond, Reebok, CafĂŠ Coffee Day, Van Heusen, Blackberry, Peter England, Levis, Bata, Gini & Jony, Liliput, Kouton's, Sony, Samsung, Titan, Turtle, Moustache, Hoffmen, Turtle, Pepe, Lee, Wrangler etc. have exclusive stores in these markets. Apart from their company owned stores, some national brands like Raymond, Bata and Titan have presence through franchisees and distributors.
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Asansol - A Preferred Destination
With a population of more than 1 million, located in the center of surrounding coal mines and various large and medium scale industries in the vicinity, Asansol is emerging as an attractive destination for the growing retail market. Asansol is the third largest city in West Bengal, after Kolkata and Howrah. The city has very good road and railway connectivity with Kolkata, and lies near the border of the state of Jharkhand. The largest employers of Asansol are Eastern Coalfields and IISCO (Indian Iron & Steel Co.) with its integrated steel plant at Burnpur. Asansol is the main educational hub for the entire population of the coal belt from Dhanbad to Ranigunj. Asansol and neighbouring Durgapur are going to be upgraded as a mega city after Kolkata in West Bengal. 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. At present retail business is on a high in Asansol. Central Bus Stand and its adjacent areas on G.T.Road is currently the main retail centre having different formats of retailing. Shops in the main market area are mainly unorganised. Presence of branded stores are more in numbers in Murgasol area on GT Road where local 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. Asansol is already a home for various exclusive outlets of several leading retail brands like Raymond's, The Loot, Charlie Outlaw, Spykar, OYO, Peter England, Levis, Gini & Jony, Liliput, Welhome, Kouton's, P.C Chandra, D'damas, Senco, Jawad Habib, Bata, Reebok, Khadim, Sreeleather's , VIP, LG Shoppe, Bazaar Kolkata, Godrej and so on. Local retail brands like S. K. Ghanty & Sons, MohanÂ’s, Super Bazaar have some exclusive retail stores at Asansol. With two large outlets, MohanÂ’s is a well known family store in Asansol for quality branded garments. Asansol has already 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 a huge 3 lacs square foot Galaxy Mall on the Burnpur Road near Chitra Cinema which is situated at the heart of the city and surrounded by residential and commercial hubs. Kolkata based Srijan Realty and Avani Group is developing the mall. Retail major BigBazaar and multiplex operator Eylex has already signed in to put their footholds in Asansol. Apart from housing BigBazaar as the anchor store and Eylex as the multiplex it is also going to have stores from leading retailers like Archies, Giny & Jony, Reebok, John Players, Success, Turtle, Moustache, Cantabill, Hoffmen, Chique,Just I,City Bazaar Metro and many more. The mall is also going to have a food court and a hotel to give the project a whole some feel. It would also have all the modern day amenities and services like double basement parking, centrally air conditioned ambience, 100% power back up and escalator and elevator connecting to all floors. All this together is bound to give a modern age retail experience to the people of Asansol and its surrounding area.
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Lily Pool Rehabilitation
- a unique initiative
WAYE (World Alliance for Youth Empowerment), a registered NGO and youth wing of Art of Living Foundation, making significant contributions in the rehabilitation of the 175,000 sq ft heritage park called Lily Pool located directly across Bengal Rowing Club in Rabindra Sarobar. Idea is to make this rehab a citizen led reality.
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Highlights of Rehabilitation: Weeds and overgrown grass being cut. The skirting will be planted with foliage of a contrasting colour.
Gardeners at work, trimming hedges, cutting grass and bring some semblance of order to the place.
This used to be a crumbling stage until a week ago. This will be covered by a shade supported on four corners by poles (like a tapovan, the way it used to be).
Civic repairs carried out on areas where the cement had disappeared.
Composting pits created for the first time in the Rabindra Sarobar area to provide a captive supply of vermicompost that can be used on the greens.
Broken seating repaired.
Road ahead: Accelerate civic repair before the monsoons, complete the ground preparation so that we have a manicured garden by 15 july 2010, refill the water in the cemented pool, coordinate with CESC for bringing an electrical connection into the facility, invest in an electrical lawn mower, coordinate with the KIT for water supply, install a sprinkler based irrigation system and finally install a fountain inside the pool.
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PS Magnum Location: On VIP Road (Diagonally opposite to Haldiram) No of Blocks: 6 (G + 9) No of Flats: 198 Flat sizes: 2BHK 1030 sq ft to 1170 sq ft 3BHK 1439 sq ft to 1848 sq ft 4BHK 2118 sq ft to 2265 sq ft
Facilities: Covered Swimming Pool, landscape garden with raised lawn, outdoor games court, AC Gym with steam & sauna, AC meditation & yoga hall, children play area, cards room, indoor games room, library, AC mini theatre, AC community hall. Specification: Flooring: Imported marble, Windows: Powder coated aluminum windows Completion: December 2013
Shreshta Garden Location: On Rajarhat main road near Derozio College adjacent to the expressway & close to City Centre II No of Blocks: 4 (G + 5) No of Flats: 114 Flat sizes: 1 BHK 582 sq ft | 2 BHK 860 sq ft to 1081 sq ft | 3 BHK 1140 sq ft to 1386 sq ft Facilities: AC community hall, AC Gym, Games room, Library, Children s play area Specification: Flooring: Vitrified tiles. Windows: Anodized aluminum windows Completion: Phase I: December 2010, Phase II: December 2011
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Kolkata South Universal City Location:
On Baruipur Amtala Road, within 500 acres of proposed District HQ of South 24 Parganas.
No of Blocks:
64 approx. with varying heights of G+4/ G+11/G+14/ G+16 structures. In addition, 200 Bungalows are also proposed in the Township.
No of Flats:
5000 approx.
Flat sizes:
2 B/R 860 sq. ft. | 3 B/R 1325 to 1425 sq. ft.
Facilities:
Landscaped greenery. Children s play area, Community hall and Modern Club with club facilities.
Specification:
Flooring: Vitrified Tiles and Ceramic Tiles, Granite Top in Kitchen, Windows: Anodized Aluminum with clear glass panes.
Completion:
1st Phase: 36 months from the date of commencement.
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Providing home to every Indian
9 Elgin Road, 4th floor, Kolkata 700 020, India Call: +91 33 4040 1010 / +91 98300 11551 | Fax: +91 33 4040 1040 E-mail: sales@nkrealtors.com Website: www.nkrealtors.com