Companies choose Sector 5 as the Future of IT to setup
If you are convinced about the integrity of Silicon Valley in the northern part of San Francisco, believe me, there is a lot more to know about the upcoming Silicon Valley in Kolkata, Bidhannagar Sector 5.
Towns of Kolkata that remain exposed to the sun and its scorching heat are now rapidly emerging in commercial development and Information Technology. Sector 5 – designed over the salt-water lake – has witnessed a massive proclivity of IT companies for the last two years.
What's more, there is a noticeable increase in the residential properties in Sector 5. Now, the area has a plethora of housing options that facilitate professionals to live here who work nearby. Meanwhile, this area's emerging importance can be ascertained, keeping in view that the 8.5 km away area from the city's center is one of the most researched cities on search engines.
In the next sections, we will disclose to you how Sector 5 is developing as an IT hub and the features that make this place suitable for IT companies.
So. Let’s get started.
How Sector 5 is a Lite Version of Silicon Valley?
It is not a mere proclamation that Sector 5 is coming up as a lite version of Silicon Valley because the speedy settlement of IT companies over here and the authorities' conversations clearly indicate that Sector 5 will be IT hub in coming few years.
Craig Hall, the Consul General of the USA, expressed his thoughts in the following words:
"New US-based companies, which are present in other metropolitan cities, are about come up in Kolkata. Sector 5 of Salt Lake, which is popularly called the Silicon Valley, will witness a surge of IT/ITeS shortly."
In light of this statement, you can better understand how Sector 5 is set to come up as a new Silicon Valley. And this time, it will be India…!
Similarly, several reasons are based on which Sector 5 appears to be the most feasible option for IT companies' settlement. Sticking to our topic, let us see how Sector 5 facilitates IT companies.
Why is Sector V Suitable for IT Companies?
Sector 5, the mini Silicon Valley, is now generating revenue of more than 7000 Crores, and it does not include the taxes collected from more than half of million couples.
Well! Having seen this giant revenue, it sounds quite a reliable option for investors associated with IT business. The following are the key elements that make this place appealing to IT stakeholders:
1. The Town of IT Brands
Sector V has become a cluster of IT companies. Along with numerous local companies, many IT brands are also carrying out their work from the same region. For example, Lexmark, Accenture, Genpact, HCL Technologies, Siemens Technology Solutions, Cap Gemini, Deloitte, TCS, Cognizant, Wipro, NIIT Technologies, Tech Mahindra and IBM are the top IT brands working from Sector 5. As giants are working from here, Sector V has become a piece of hot cake for IT business owners.
The most engaging element of this place is that it is perfectly suitable for business travelers and temporary business residents. Meanwhile, the space for commercial IT offices is also in abundance here in Sector V.
2. Easy to Reach; Easy Connectivity
Sector 5 is easily reachable from localities in South Kolkata; the eastern bypass connects sector 5 with Kolkata. Hand in hand, a road to Lake City or Bidhannagar is also under construction with the East-West Metro project's name. This project will be operational in the second week of December 2020. It would have been completed soon, but the work was halted due to COVID-19.
The route will connect Sector V with the Howrah Maidan from where Netaji Subhash Chandra Bose International Airport's distance is 13 Km. Meanwhile, the railway station is also around at a distance of fewer than 10 km.
3. Reasonable Pricing and Rent
Amid its many other salient features, the rents and pricing of this place make it an even better option for IT companies. The average value of an apartment starts from Rs. 5000 square feet and ranges from Rs. 5000 to Rs. 7000.
Accommodation in an apartment with an area of 950 Square feet is worth 40 lacs, and if the area is 1350 square feet, this investment might touch 70 lacs.
Having gone through the details given in this post, you would have understood that Sector 5 is evolving in terms of residential, commercial, and IT business. In the event that you are looking for a suitable place to move your office, Sector 5 of Salt Lake, Kolkata appears to be the perfect option.
Ali Rauf Contributory Writer