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Roaring Rajarhat: The Second Financial Hub of Kolkata
by Katherine Morgan on August 10, 2017

At the pace at which Rajarhat is attracting investments it goes without saying that it has emerged as one of the financial and legal services hub in the country’s. The location is said to have allocated 100 acres in the Commercial Business District Zone of New Town. Since 2012 when the first foundation stone was laid for empowering Rajarhat as a financial hub, the journey has been dynamic and strong.  

 

Large Investments from Financial Legal and Educational Sectors

The fast growing centre has already attracted 22 financial institutions like State Bank of India, Bank of India, Allahabad Bank, Bank of Baroda, Corporation Bank, Canara Bank, Punjab National Bank, Syndicate Bank, The Institute of Chartered Accountants of India and West Bengal Financial Corporation to name a few. There are plans of drawing more strategic investors to the financial and legal services hub. A cluster of financial institutions will be involved in putting up the project. The Kolkata high court too is planning to move to this place. The Bench of the National Green Tribunal already functions at Rajarhat as their centre of Business and Arbitration. They aid people to conduct business without any legal hassles/conflicts.

State Bank of India ‎ is establishing a global training institute for banking and financial services at the Information Technology hub of Rajarhat. An investment of around Rs 600 crore has already been made. Bankers from emerging economies and from neighbouring countries will be invited for training purposes.

Top educational institutes like St. Xavier’s and Presidency Universities are coming up with their second campuses here.

Conventional Centre for Financial Upliftment

The Biswa Bangla Convention Centre is a 55m or 18 storeys tall structure that covers an area of 4.57 lakh square feet. The centre houses a mega conference hall, with seating capacity of 3000 along with a state-of-the-art conference facility. It also boasts of two seminar rooms, each with 376 seats, four banquet rooms and a 100 rooms hotel as annexe within the same campus. The convention centre also has a multi-level car parking facility. Bookings have already started for the convention centre.

Tourism Promoting Economy

Rajarhat has also acquired a tourism value. It is thronged by thousands of visitors over weekends and hundreds on weekdays to Eco-Park, Mother's Wax Museum & Nazrul Tirtha. Once the convention centre is completed, tourists would love to stroll in the Bagjola canal which is a beautiful site in itself. The banks have been developed and a floating jetty will be constructed.

New Residential Projects adding to Economic Thrust

Rajarhat is witnessing growth in terms of high-end as well as affordable housing. New affordable housing projects are coming up in Action Area II & III which are in the range of Rs 30 to 70 lakh. Action Area I is where most of the premium star hotels and residential projects are coming up  ranging between Rs 65 lakhs and Rs 2.5 crores.  Leading real estate developers like Unitech, Unimark, DLF & Anik Industries Limited are few of the prominent players with a major presence in the area. They are known for their upcoming projects in Rajarhat, out of which One Rajahat, by Anik Industries Limited which is surrounded by several star hotels in Action Area I, needs a special mention for the luxury along with convenience it promises to provide to homebuyers.

Rajarhat is garnering a lot of attention from NRI’s as well as owing to the availability of land in this upcoming financial hub. That day is not far when Rajarhat will be playing a strong role in sealing the country’s financial fate.


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