RETAIL BUSINESS OWNERS ARE MOVING TO NEW URBAN LOCALITIES LIKE NEW TOWN

As Kolkata expands and embraces a modern layout to shake off its colonial legacy, commercial districts such as Dalhousie and Esplanade seem to lose their old-world charm. The central business hub of the city gradually moves from the heritage surroundings to a well-planned zone located in New Town, Kolkata – along the eastern fringes. Retail business owners have shown the preference to set up retail showrooms in New Town as it is fast emerging as the new business district of Kolkata with robust infrastructural support.

First-Ever Financial Services Hub

New Town, Kolkata has become the first-ever financial services hub in the country. With 100 acres of land in the commercial district zone of New Town dedicated for setting it up, more than a score of financial institutions have already purchased plots, with SBI, PNB, BOB, The Institute of Chartered Accountants of India (ICAI), and West Bengal Financial Corporation (WBFC) figuring in the list. According to official reports, this appears set to become the fastest-growing center in India. With the coming up of a business and arbitration center, the ease of doing business gets a further boost.

Parking options

The congested central Kolkata area lost appeal as shoppers faced parking problems every day during peak hours. With the lack of available space to park vehicles, people began looking for other shopping destinations. As New Town is newly-built and there is plenty of parking space available for customers and clients, retail showrooms in New Town have attracted hordes of customers who like shopping in clean and well-maintained surroundings, with a rich ambience.

Ready Customer Base

With many housing societies and apartment complexes already complete, retail showrooms in New Town have the advantage of a fast-expanding local customer base with high disposable income to shop for reputed retail brands. With more residents in the nearby localities, people from Salt Lake and EM Bypass also find it easy to shop for their household and lifestyle needs. As New Town offers entertainment and amusement options, it becomes an attractive destination to shop and relax with family and friends.

Retail Showrooms in New Town

There are many retail showrooms for sale in New Town as the property prices and rentals are affordable compared to other commercial areas in Kolkata. The scope of buying bigger spaces has also driven the retail business owners to set up shop in New Town. Since many leading brands across categories have established their presence here, retail business owners fear a loss of business soon if they do not align themselves with modern customers. They seek the best not only in terms of products but also as an enriching shopping experience without any hassles. New Town has the potential to provide that because of the mix of infrastructure and shopping and leisure options. Better frontal views and wide-open spaces around make it easy and comfortable for shoppers to go on a spree without jostling in crowded places. Even if there is a big crowd, there is still enough open space to move around with ease.

The New Town edge

Even though New Town is fast evolving into a leading commercial hub, the infrastructure of the region is not fully developed. With the completion of the Metro corridor on the anvil, things are likely to improve as the rest of Kolkata and the suburban towns can have easy, affordable access to New Town. It is sure to boost the commercial prospects. Now is the right time to invest as the retail showrooms for sale in New Town are still modestly priced. This early mover advantage is likely to become a thing of the past once the infrastructure gets fully ready. More retail business owners find it profitable to operate from this locality. New Town has already witnessed encouraging customer response – with Axis Mall, City Centre 2, Home Town, and DLF Galleria getting positive feedback from shoppers. As New Town is developing the ecosystem of infrastructure, luxury business hotels have also started their operations here.

Trending Zone with Youth

Grabbing the attention of the youth is vital for retail business owners. New Town has already achieved that. As New Town offers an excellent mix of education and recreation facilities, there is a very good influx of students and young professionals. While they love to study in premier institutions here, the young crowd makes it an attractive destination where they love to hang out and enjoy with friends. Retail showrooms in New Town get impressive footfalls every day. The youth make it a livelier zone through word of mouth publicity, attracting people from other areas to check it out for a unique experience. Since there are multiple options to spend the day, with zero traffic blues or boredom issues to tackle, visitors can have a pleasurable experience worth remembering.

IT Park

New Town is an emerging business district on the outskirts of Kolkata. The established IT hub named Sector V is also in the vicinity. New Town, planned to reduce traffic bottlenecks in other parts of Kolkata, is another IT hub as big technology companies like IBM and Hewlett-Packard operate out of New Town. There are many office buildings like DLF IT Park, with TCS and Cognizant having business centers. It creates a floating customer base comprising young professionals who prefer to shop in the areas where they come to work.

Growth Across Sectors

Retail showrooms for sale in New Town have elicited a response from retail business owners running not only clothing or apparel businesses. There are all kinds of retail business units set up here. Diversity makes it popular. Shoppers can get home furnishing, footwear, electrical, kitchen appliances, digital products, jewelry, hardware stores, and lots more. As customers know they get all kinds of products here, they prefer to visit this area to meet their needs instead of wasting time elsewhere – a one-stop destination for all their needs.

Smooth Navigation

Roads in New Town are wide and well-maintained to allow easy movement of traffic – unlike the crowded areas of central Kolkata. The proximity to the airport is another advantage for New Town as business delegates can move around easily here. With Metro connectivity coming up soon, the mass transport system becomes affordable, comfortable, and faster in terms of transit time, fueling further growth in New Town.

The early trends indicate that retail business owners will continue to flock to New town, leading to high growth in demand for retail spaces in the commercial buildings developed by prime builders in the coming years.