Project In Focus: 5th Avenue By Merlin Group, Kolkata
Listed under the Smart City Mission, Salt Lake City (also called Bidhan Nagar) is a prominent location near Kolkata that is presenting new investment opportunities for property seekers. A well-developed satellite town in West Bengal, Salt Lake City is accessible from important destinations such as Rajarhat, Lake Town, Garia and Dum Dum Airport. Owing to its strategic location and proximity to corporate offices, the area has experienced rapid residential developments among which is the prestigious project by Merlin Group named 5th Avenue.
PropGuide explores the major features of the residential property:
About the property
The project, Merlin 5th Avenue, is an exquisite residential property situated in the suburban locality of Salt Lake City in Kolkata. The property is gated and spans a total area of 4.22 acres. It includes premium air-conditioned apartments with opulent finishes, offering breathtaking views of 1,000-acres lake located across the property. There are 441 units of 3BHK homes available in the project with unit sizes varying between 1,062 sq ft and 2,921 sq ft. Launched in February 2016, the property has five towers, construction of which is yet to be completed and will be ready for possession by June 2020. The project also offers its residents a collection of exclusive amenities which include:
The developer
Kolkata-based Merlin Group has over three decades of industry experience and holds the reputation of delivering 50 commercial and residential structures and 150 independent bungalows. It has expertise in the development of luxury projects, economic projects, country homes, specialty malls, new generation clubs, stadiums and service apartments.
Neighbourhood
Salt Lake City, also called Bidhannagar, is a popular satellite town in West Bengal. The neighbourhood has commercial hubs and IT centre with renowned companies, including TCS, Accenture, Wipro, IBM, HCL Technologies, etc. which can be conveniently accessed from the project. Investment opportunities are available in abundance here.
Also read: Developments You Must Know About Before You Invest In Kolkata Real Estate
Connectivity
Seamless connectivity to major locations of Kolkata is ensured. Eastern Metropolitan Bypass (EM Bypass) effectively links the area to south Kolkata. Bidhan Nagar Road Railway Station offers rail connectivity while Netaji Subhash Chandra Bose International Airport is located 13 kilometres from the region. Salt Lake Sector 5, which is 2.5 kilometres from the area, will have a Metro station in the future as part of the proposed 16·3-kilometres Kolkata East West Metro Line.
Also read: All You Need To Know About India's First Underwater Metro Tunnel
Social infrastructure
The locality draws significant student population as it houses prestigious educational institutions like Indian Institute of Foreign Trade, Saha Institute of Nuclear Physics, All India Institute of Hygiene and Public Health, National University of Juridical Sciences and National Institute of Fashion Technology.
Moreover, a range of modern social infrastructural facilities entailing reputed schools, healthcare centres, shopping complexes, retail shops as well as ample leisure options is also present in and around the region.
Average price in the area
The average capital value of a residential property in Salt Lake City is Rs 5,232 per sq ft. The 2BHK apartments are priced at Rs 40 lakh for unit sizes of 950 sq ft. The 3BHK apartments are available for Rs 63 lakh with unit sizes of 1,100 sq ft whereas 4BHK apartments are priced at Rs 80 lakh for unit sizes of 1,900 sq ft.
PropGuide's verdict
The project, 5th Avenue, is an upcoming project situated close to an emerging central business district (CBD) , Sector 5. With Metro connectivity in the future and plenty social amenities in the vicinity, the project is an excellent option for families, working professionals as well as investors.