Shifting of the Alipore Jail to boost real estate market in prime neighborhood

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A huge plot spreading across 20 acres will be unlocked as a result of the shifting of the Alipore Jail to Baruipur. This will boost the luxury real estate market in one of Kolkata’s poshest residential zones. The immigration to the new prison facility in Baruipur has already commenced and will soon be completed, opening up this plot for development. The conservative values for this plot are approximately Rs. 960 crore and the project cost is estimated to be around Rs. 250 crore.

The Alipore Central Correctional Home is 112 years old and will be shifted to a more contemporary G+1 prison facility at Baruipur by the end of June 2018 as per reports. There will be further movement in phases till November 2018. Chief Minister Mamata Banerjee has already promised citizens that the landscape of Alipore, arguably the poshest residential area in Kolkata, will soon change. More than 100 acres of prime real estate value at more than Rs. 90 crore per acre will be unlocked eventually for development purposes.

The Alipore Women’s Correctional Home and Presidency Correctional Home may also be shifted out from the city. The State Government is planning large-scale development for the area. The Dhana-Dhanya auditorium is already coming up with a seating capacity of 2, 400 people while a Parkomat is being developed opposite to the Alipore zoo. Soujanya is also coming up which will be the new guest house for the State Government at Hastings. This will draw inspiration from the famous Hyderabad House in New Delhi. These developments will transform the look of the entire area as per reports along with boosting the real estate market in this prime pocket of the city.

Resident Editor