When we think about the business centre in Kolkata, Salt Lake City or Dalhousie Square will be the first locations that come to our mind. A beautiful water body and heritage buildings of the British era give a different charm to these cities. As the city of growth shakes off its old charm, it is necessary to shift the focus from heritage surroundings to a modern landscape where amenities have significant roles to play. The recent attention from companies and the government goes to the New Town, a city on the Eastern fringes where businesses can establish their presence effortlessly. With the massive business support from the government and large-scale companies, the New Town will be one of the most modern business centres in Kolkata.
By 2050, the location will come to the limelight as the second financial hub in India after the Bandra-Kurla Complex in Mumbai. The town has the presence of more than 20 financial institutions; the coming years will see more admiring glances from international companies and India-based fintech startups. In this blog, we are discussing why the New Town is a hot topic in the business world and what aspects of the town play a vital role in attracting companies across the globe. Read on to receive unique insights from Junction, the top-rated workspace provider in India.
What makes the new town a business centre?
Many reasons substantiate that New Town will be the most sought-after business centre in Kolkata, acting as the eastern gateway for Southeast Asia. The government has taken initial steps to build a bustling township in this location, offering fruitful land for fintech firms to define India’s journey towards a developed country.
Fintech is the fastest-growing domain in the financial sector, and investments are pouring in nationally and internationally. According to WBHIDCO Managing Director, Debashis Sen, Kolkata is closer to Singapore and Hong Kong, the two acclaimed international business centres in Asia. This statement indicated the demand for fully furnished office space for rent in Kolkata on an international level.
The Bengal government has established a concrete step to market the area. The report clearly underlines that 11 plots out of 23 are already booked. The New Town is 35.76 acres with the presence of top financial institutions such as NIC, UBI, SBI, Union Bank, Bank of Baroda, and many more. The New Town is specifically for financial institutions. The Urban Development Minister Firhad Hakim told the Economic Times that West Bengal’s financial sectors contribute 23.54% to the state GDP, which makes it the third largest check-clearing centre in India.
The HIDCO is the master planner behind the design and development of the New Town. As per the plan, the town will have full Wi-Fi connectivity with an ecotourism park, a modern art museum, and a 5-star hotel. When the work starts in full swing, real estate businesses will benefit as new buildings need to be constructed to meet the growing demands. The New Town will open demand for shared office space in Kolkata as the organisation’s work culture is being shaped by the modern concept of workspace.
Junction, the top workspace solutions provider in India, is looking forward to creating a customised nest for both freelancers and large-scale companies that prioritise cost-effective workspace options. Proximity to the airport, shopping malls, chained luxury business hotels, metro connectivity and other transportation facilities, and modern residential spaces make the New Town a suitable arena as the top business centre in Kolkata.
The new town; as the top business centre in Kolkata
What will be the reflection of New Town as a business centre in Kolkata? The Horizon is wider, and the hope is deeper. According to WBHIDCO, the new town can generate more than 20,000 jobs. This will be a remarkable step in the state’s progress.
Growth of the country:
As the Prime Minister stated, our country is on the journey to becoming a developed country. The New Town, emerging as a capital for fintech companies, can contribute to the country’s total GDP, redefining India’s future.
Future for shared office space:
As the world is revolving around innovative workspace ideas, the settlement of fintech companies can increase the demand for managed & serviced offices in Kolkata, especially in and around the New Town. Shared office spaces offer flexibility to employees, helping them brush up and brainstorm life-changing concepts in their realm.
Real estate growth:
The construction and real estate industries are going to be heated by Kolkata’s coworking spaces and futuristic business centre setup. This will make the state a wonder and a must-stop destination for companies worldwide.
Conclusion
The New Town, India’s second-most business centre in Kolkata, isn’t a fantasy. By 2050, the area will accommodate major fintech companies in the world, fading the geographical barriers and embracing globalisation. As a workspace provider in India, Junction is curious to witness the shift of Kolkata to the Eastern gateway for fintech service trade.
