There has been many ups and down in the real estate market in Kolkata. After staying dormant for quite a few years, sale of property has now increased and residents are witnessing fast development in residential flats in Kolkata.

Investing in properties has always been the primary choice for the investors mainly in real estate. But making the perfect choice is quite a real difficult task. Too many builders are available in the market. For choosing the right option, property buyers have to consider many factors before making investment and the factors may depend on –

  • City
  • Locality
  • Price of property
  • Return on investment etc.

Home-seekers, big investors, and others have always preferred putting their hard-earned money in residential projects across major cities like Noida, Delhi, Mumbai, and Bangalore. In due course of time, these metropolitan cities have become too costly not only in terms of living but also for other investment purposes. People have gradually shifted their preferences to eastern states where they can not only invest in properties of their choices but also they can have affordable stay. With governments’ focus on industry and development, investors also are keen to put their money in Kolkata properties for higher returns in near future.

Recently, Kolkata has emerged as a fast growing real estate hotspot. “The city of joy” as Kolkata is referred to, is still considered as the reasonable and affordable city where you can think of investing in new projects in Kolkata. Located in the banks of river Hooghly, Kolkata, the capital city of West Bengal, is considered one of the major commercial, cultural and educational centers in India.

Following are the prime reasons why Kolkata is considered the ideal place to put money and invest in the ongoing and upcoming residential projects –

1. Connectivity

When we invest in properties, the first thing we search for is the location:

  1. How well the city is connected to the key areas?
  2. What are the facilities and amenities available for residents near to their chosen locations for residency?

The answer to all the mentioned questions would be that Kolkata, as it is already known, has well connectivity to various places. People can travel from one place to another within cities or other cities via metro rail, buses, trams and railways. It has four long distance railway stations providing well connectivity with major cities all over India.

2. Infrastructure

In terms of infrastructure, Kolkata has flyovers to speed up the traffic and well maintained road so that one can reach their destination within a short span of time. Well-constructed passageways like EM Bypass, Belghoria Expressways, and Basanti highway connect residents to some of the prominent hospitals in and around the city like Calcutta Medical Research institute, Fortis Hospital, Columbia Asia Hospital etc.

Kolkata was the capital of British India. The beautiful architectures and infrastructures attest to that. Also, the city is bathed in rich culture and tradition.

3. Educational hub

People, relocating to cities, search for options of best schools and colleges where they can give better education to their child. Kolkata is the city which provides you wide variety of options. Most prestigious and prominent schools and colleges are here in Kolkata. To name a few, the institutes are - Institute of Engineering and Management, Indian Statistical Institute, Indian Institute of Science Education and Research etc.

Why Kolkata?

Kolkata is the only city in the eastern region that has an international airport. Hence, NRIs’ and young urban prefer investing into the many residential projects which are coming up in and around the city. It is a commercial hub for the eastern region and therefore, has become an ideal choice for the homebuyers because of its affordable property options and cheaper cost of living.

According to a recent report, developers are offering discounts to the investors so that maximum investors put their money in the upcoming residential projects in Kolkata. Even government is also supporting investors by giving 1% discount on stamp duty for properties below 1 crore. The most prominent places to witness development of residential flats in Kolkata are Rajarhat, Patuli, New Town, Garia, EM Bypass, Dum Dum and Sonarpur. Also, suburbs like Uttarpara, Behala, Baras at are in high demand because of the IT companies investing in commercial spaces in these lucrative locations.

Considered as a user-driven market, Kolkata has become a real estate hotspot. In the past 3 years, Kolkata has seen development in the real estate industry by 30%. The city is expanding continuously where developers like Unimark Group have started off with their projects like - Unimark Riveriaat Uttarpara, Unimark Springfield at Rajarhat, Lakewood Estate at Patuli and Unimark Sports City at Barasat.

Conclusion

Since, Kolkata is now an emerging and fast developing city with rapid growth in real estate market, the builders are developing properties that offer super premium apartments with state-of-art living facilities. Residential flats in Kolkata are now coming up with the concept of ultra-luxurious living. Unimark Group along with Tribeca Developers and RDB Group is planning to launch Trump Towers comprising 140 ultra-luxury apartments on EM Bypass.

Grab the opportunity as upcoming residential projects in Kolkata allows you to book your property with a token money and pay the remaining amount after you get the possession. During the waiting period, if the price of the property rises, you can sell your property at higher rates. As compared to investments, returns are much promising compared to other metro cities. Kolkata offers places of residency to people coming from different financial stratum and classes of the society. This is why Kolkata has attracted real estate investments in huge numbers.

Published by Mohsin Ahsan