Since 2000, an economic rejuvenation has arrested the morbid decline, leading to a spurt in the city's growth. Like other large cities, Kolkata continues to struggle with urbanisation problems like poverty, pollution and traffic congestion. A vibrant city with a distinct socio-political culture, Kolkata is noted for its revolutionary history, ranging from the Indian struggle for independence to the leftist and trade union movements.
But Kolkata is growing in real estate sector leaving all its negatives behind. There is new life in the markets for real estate, shopping malls and retail finance -- all of it telling us that people are spending more. Ask where the money comes from, and the answer is that there is momentum in software and BPO (18,000 jobs already created, and 10,000 new ones expected annually from now on), leather, toys, and food processing.
New industrial parks for the latter two industries have got snapped up in no time, as has space in an export zone for jewellery. Engineering is going through a huge revival because of new foundries that have been set up in the Durgapur-Asansol belt, partly to feed China's insatiable demand. It also helps that a showpiece project like the once-troubled Haldia Petrochemicals is now profitable.
You can see the results in the usual secondary activities. The number of luxury hotel rooms has doubled in the last two or three years, but occupancy rates remain high. Thai wants to increase its Bangkok flights from three to seven per week; Gulf has started serving the city; Bangladesh's Biman will increase its daily service from two flights to three in the winter. Still, businessmen complain that they can't get seats out of Kolkata. And the media is a boom sector, with seven or eight Bengali channels. Clearly, there is advertising to go round.
But everything pales in the face of the real estate and construction boom (which is helping both the steel and cement industries). Satellite towns are coming up east and west of Kolkata, and others are springing up in places like Siliguri. Hundreds of acres are being developed, new highways laid down (including a smooth new by-pass from the airport), and bridges planned.
So what can you imagine in Kolkata next in 25 years? Cars will zip down broad, leafy ring roads that encircle the city. The ring roads will be lined with garden-fronted highrises and glass-and-marble shopping arcades. The city will have three new townships. And it could perhaps be the medical capital of the region, catering to overseas patients — on its outskirts will be a health city with super-speciality hospitals and medical and nursing colleges, apart from a biotechnology park.
The old city is now showing its freshness, its youth and speed. Don't just follow it, catch it, or you will be left behind!!!!
What about the Electrical Resources 
I do agree with deba to some extent.Focus=1
real estate is superbly booming in kolkata. previously the price per square foot in Garia was 600/- now its 1800/- within 2 years. Three times price increase shows the booming nature of this business. its true that INFRASTRUCTURE supportive of the development are not happening at all. Involvement of non-civic planners is the clear cut result. Thus waterlogging, power shortfall, increased pricing of commodities, bad drainage, congested traffic conditons, pollution, sound pollution are just the side effects of this bad medicine.