Durgapur, West Bengal Property Guide
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Overview of Durgapur
Durgapur sits in the Bardhaman district of West Bengal. It's a key tier-2 city and one of the top urban areas in the state following Kolkata and Asansol.
Industrial and Economic Importance
- Durgapur is famed as a planned industrial hub, often likened to the ‘Ruhr of India’.
- It has major industrial plants like the Durgapur Steel Plant, Alloy Steel Plant, Philips Carbon Black Ltd, Durgapur Project Ltd, and Graphite India Ltd.
- The city draws workers from West Bengal and neighboring states with many job opportunities.
Infrastructure and Connectivity
- Durgapur offers great infrastructure including private power units, advanced hospitals, shopping malls, and eateries.
- It's linked by major highways NH-19 and the 6-lane NH-2 (GT Road), giving it links to the entire country.
- Public and private transport, including buses, cabs, and auto rickshaws, are all handy in the city. It also has railway links.
Real Estate Investment Prospects
Residential Real Estate
- Bidhannagar: This is a planned community with big schools and hospitals. Prices range from ₹30 lakh to ₹3.8 crore. This area has easy access through Grand Trunk Road and Jawaharlal Nehru Road.
- Benachity: Famous for its residential and commercial appeal, Benachity houses several English medium schools and software parks. Property prices range from ₹18.5 lakh to ₹1.75 crore.
- Other Areas: Bamunara, Kaliganj, Arrah Kalinagar, and Fuljhore offer varied homes at different price ranges.
Commercial Real Estate
- Benachity: This main commercial spot offers great links, frequent bus stops, and close ties to industrial and tech spots like Webel IT Park, hotels, eateries, and malls.
- Arrah Bidhannagar: This locality has solid infrastructure and features, with proximity to many commercial centers, promising high resale value.
Property Price Movements
- The basic property price is ₹925 per sqft, with an average at ₹3,429 per sqft. The most pricey property goes up to ₹9,090 per sqft.
- Localities like Benachity aver at ₹4,305 per sqft, whereas places like Andal cost ₹2,764 per sqft.
Upcoming Projects
- The Ludhiana-Dankuni industrial corridor passing through Durgapur will uplift industry and links.
- Projects to improve ties to Bangladesh, Nepal, Myanmar, and more north Bengal areas are afoot to further boost the city.
Tax Benefits
- Real estate investors can get tax cuts under Section 80C and Section 24 of the Income Tax Act, letting them subtract home loan principal and interest.
Presence in IT Industry
- Though fewer than Kolkata, Durgapur does feature several IT firms such as Usom IT Solution, Way to IT Universe, Refresh Infratech, and Conception Technologies.
PropertyWala's Take
Durgapur stands out for both residential and commercial real estate. Its strong industrial base, top-notch facilities, and future projects make it a good pick for investors. It brings lots of property choices at different cost levels, promising expansion and solid returns. If you're into residential spots in planned areas like Bidhannagar or work in commercial spots like Benachity, Durgapur merits deep thought for your property portfolio.