ASANSOL

MARKET OVERVIEW

May-2010

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 A MEGA CITY IN THE MAKING

AREA
NAME OF THE URBAN AREA Asansol is a sub-division of district Burdwan and the
(in Sq. Ft.)
ASANSOL U.A. 361.93 third largest city in West Bengal, after Kolkata and
(a) Asansol 127.87 Howrah.
(b) Kulti 99.67
(c) Bhanowara 4.11 Asansol is a divisional headquarters of the Eastern
(d) Jamuria 73.23 Railways.
(I) Charanpur 2.63
(e) Jemari (J. K. Nagar Township) 4.24 The city has very good road and railway connectivity
(f) Raniganj 23.44 with Kolkata, and lies near the border of the state of
(I) Sahebganj 1.66
(II) Egara 3.66
Jharkhand.
(III) Nimeha 3.85
(g) Amkula 3.01 Asansol Urban Agglomeration area population is
(h)Murgathaul 2.12 over one million and its area is over 360 sq.km.
(i) Raghunathpur 0.87
(j) Ballavpur 1.67 The city's economy is based on primarily the coal and
steel industries
POPULATION
NAME OF THE URBAN AREA
PERSON MALE FEMALE Eastern Coalfields Ltd. (ECL) has its headquarter at
ASANSOL U.A. 10,67,369 5,64,837 5,02,532 Sanctoria, near Asansol. The largest employers of
(a) Asansol 4,75,439 2,50,886 2,24,553
Asansol are Eastern Coalfields and IISCO (Indian
(b) Kulti 2,89,903 1,52,821 1,37,082
(c) Bhanowara 7,732 4,097 3,635 Iron & Steel Co.) with its integrated steel plant at
(d) Jamuria 1,29,484 68,695 60,789 Burnpur.
(I) Charanpur 3,301 1,609 1,611
(e) Jemari (J. K. Nagar Township) 14,074 7,757 6,317 Other major industries are Chittaranjan Locomotive
(f) Raniganj 1,11,116 59,270 51,846 Works, Hindustan Cables, Disergarh Power Supply,
(I) Sahebganj 4,159 2,203 1,956 Damodar valley Corporation (DVC), Burn Standard,
(II) Egara 5,712 2,883 2,829
(III) Nimeha 1,794 930 864
Reckitt and Coleman, McNally Bharat, couple of
(g) Amkula 5,934 3,478 2,456 cement plants and quite a few refractories.
(h)Murgathaul 7,850 4,342 3,508
(i) Raghunathpur 5,480 2,955 2,525
Asansol is the main educational hub for the entire
(j) Ballavpur 5,391 2,830 2,561 population of the coal belt from Dhanbad to Ranigunj.
Source: Census Report - 2001 The Eastern Railway School, St. Vincent's High and
St. Vincent’s High & Technical School, Asansol
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.
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 STEPPING
INTO A BRIGHT FUTURE

HOUSEHOLD INCOME & EXPENDITURE Asansol and neighbouring Durgapur are going to
Rs/Household. be upgraded as a mega city after Kolkata in West
6000
4906
5518
5063 4955 4852 4722
Bengal.
5000
4000 3820
3570

3000
3247
3526
2031 2808 In the next five years, about Rs.55,000 crore will be
2442 2671 2668 2629

2000 invested in various projects like giant industries,

1000 integrated townships, airports etc. in Asansol and
0 Durgapur Planning Area .
DMC AMC Kulti Raniganj Jamuria NMU Rural ADPA

Average Household Income (in Rs.) Average Household Expenditure (in Rs.) ADDA has prepared a report to introduce
chartered flight from IISCO’s airstrip in Burnpur to
various destinations like New Delhi, Kolkata,
POPULATION DENSITY-ADPA (PPSQKM)
Ranchi and Siliguri.
ADPA 1592
The merger of IISCO and SAIL, with an estimated
RANIGANJ 4740
investment of Rs.8000 crores, has uplifted the
JAMURIA 1768 economical face of Burnpur and Asansol. Burnpur
DURGAPUR 3200 itself is a town of rich culture and educational
ASANSOL 3718 development.
KULTI 2912

Source: Census Report - 2001

New developments in the form of Videocon’s Steel
plant at Jamuria (10 kms from Asansol), Bhushan
UP COMING GALAXY MALL-ASANSOL 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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 ADDA IS SPEARHEADING
THE DEVELOPMENT

Major on-going Projects (Real Estate)

A residential township called “SHRISTI NAGAR”, a joint
venture project of ADDA with Shristi Infrastructure
Development Corporation Limited is currently under
AS construction at Kanyapur with modern apartments,
AN bungalows, shopping mall, multiplex and IT centre on
SO
LU over 90 acres of land.
RB
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
Sugam Homes is developing the biggest residential
Renewal Mission. In order to transform the planning area
project at Kalyanpur satellite township in Asansol
into a world class urban center, IIT-Kharagpur (Indian
Institute of Technology) has prepared the “Perspective Plan- comprising of plots and 1000 flats with all modern
2025” for Asansol Durgapur Planning area. amenities. It spread over an area of 30 acres land.

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.
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.

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 REAL ESTATE TREND
(RESIDENTIAL)

DWELLING UNIT REQUIRED BY 2025 Asansol Residential Market

( Major Urban Areas of Asansol Durgapur Planning Area)
With a good number of large industries and mining areas in its
Present Projected Additional Additional Present Total DU vicinity, Asansol, an important commercial and industrial urban
Area Population Population Population Household Shortage required
-2025 (4.5perspns/HH) by 2025 centre of West Bengal is fast shaping up as a megacity.

Jamuria (M) 1,29,484 2,50,000 1,20,516 26,781 5,695 32,477 With a large workforce, moderate per capita income, good
Kulti (M) 2,89,903 4,00,000 1,12,097 24,466 10,345 34,811 connectivity and a large number of residential, commercial and
Asansol (MC) 4,75,439 7,50,000 2,74,561 61,014 13,598 74,612 educational establishments, Asansol has the potential to be
Raniganj (M) 1,11,116 50,000 61,116 13’581 4,841 18,422 emerged as an modern urban centre.
Durgapur(MC) 4,93,405 10,00,000 5,06,595 1,12,577 33,457 1,46,034
Asansol residential market has witnessed a considerable
Total ADPA 1,49,9347 24,50,000 10,74,885 2,38,419 67,936 3,06,356
increase in construction activity over the last couple of years.
Source: Perspective Plan for Asansol Durgapur Planning Area: VISION-2025 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
PRESENT HOUSING DISTRIBUTION-ASANSOL region has uplifted the economical face of Asansol and opened
100% up the floodgate of real estate opportunity in and around
10% 10% Asansol. In fact the high salaried employees of IISCO at
90% 20%
30% Burnpur which is catering almost the half of the high income
80%
bracket salaried people of Asansol is driving the residential
70%
demand of the city.
60%
85% 70%
50% 70% There are quite a good number of residential standalone as
90% well as township projects are coming up in the areas like Apcar
40% 65% Garden, Hill View, Chelidanga, Burnpur Road, Kanyapur,
30%
Dhadka, Murgasol etc.
20%
10% 15% 20% To meet the rising demand in the main residential areas, local
10% 5% developers are engaged in constructing of small stand alone
0
Apcar Garden Hill View Burnpur Road Chelidanga Murgasol apartment buildings on five to ten cottahs land. Burnpur Road,
S.B. Gorai Road, Upper Chelidanga and Murgasol are the
HIG MIG LIG main hunting ground of these local developers. Apkar Garden
and Hill View Is considered as the posh residential location in
RESIDENTIAL SALE RATES 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,
Location Rs./sq.ft. Mary Gorethi etc.
Apcar Garden 1200-1500
Residential prices currently vary between Rs.900 and
Hill View (S.B. Garai Road) 900-1400 Rs.1800/sq.ft. in Asansol. The Anand Enclave on G.T. Road at
Burnpur Road 1200-1600 Hindustan Park is selling at Rs.1800/sq.ft. which is currently
Hindustan Park (on G.T. Road) 1500-1800 the highest residential rate in Asansol. The selling rate of
apartments in Shristinagar varies between Rs.1600 and
Upper Chelidanga 1200-1400
Rs.1650/sq.ft.. Apartments in Sugam Park at Kalyanpur in
Kanyapur 1400-1650 Dhadka are selling at around Rs.1200/sq.ft..
Dhadka (on new bypass) 900-1200
More organised sectors are planning to tap into Asansol’s
Murgasol 900-1200 huge potential such as Paharpur Group.
Source: NAI NK Realtors Research

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 REAL ESTATE TREND
(RESIDENTIAL)

PRICE GROWTH TREND Developer’s/Builder’s Activity

Public Sector
Rs. Per sq.ft.
West Bengal Housing Board (WBHB) and Railway Welfare
1800
Organization (IRWO) is engaged in construction in this
1600
1400
Region.
1200
Private Sector
1000
800 Around 50 builders are operating here.
600 Around 8-10 A Type builders – Bengal Shristi, Sugam
400 Homes etc.
200
0
B Type and C Type builders are more in numbers and
Apcar Garden Hill View Burnpur Rd. Hindustan Park Kanyapur Murgasol S. Dhadka around 25-30 B type builders are operating here. Mishra
Associates, Purbasha Builders Pvt. Ltd., A.K. Construction,
2006 2010 NIT Builders, Purosottam Developer Pvt. Ltd., Classic
The above graph indicates the highest residential rates. Construction are some well known builders in this category.
Source: NAI NK Realtors Research
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

Bengal Shristi, a leading real estate company is developing a

Shristi Nagar at Kanyapur 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 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.
Sugam Park at Kalyanpur, South Dhadka
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 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.
The overall picture of retail in Asansol is mixed in nature. Central Bus Stand
and its adjacent areas on G.T.Road is currently the main retail centre having
different formats of 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 more in numbers at
Murgasol area on G.T. 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 B.B. College More, Ushagram etc. Commercial
buildings are also present in the areas like Burnpur Road, Vivekananda Road
formerly Sen-Religh Road etc.
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.

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. 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.

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.

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