Kolkata's Suburbs Offers Luxurious lifestyle!

Kolkata, the traditional city, is one of the most desired real estate destinations today. Located on the bank of river Hooghly, Kolkata proudly flaunts a rich culture. It is one of the few cities that have protected its culture. Also known as the home of some of the famous personalities in India, Kolkata is also considered as one of the wealthiest cities of the country.

Counted amongst one of the sought-after suburbs of Kolkata, Bhowanipore is a posh locality in South Kolkata. Particularly, this area has been enveloped by wealthy business honchos and educated professionals. In fact, this area is proud to be a home for famous freedom fighter, Subhash Chandra Bose. Not to forget, eminent filmmaker Satyajit Ray and actor Uttam Kumar are the inhabitants of Bhowanipore area.

A little further to Bhowanipore, there is Ballygunge, an upmarket locality in South Kolkata. With an expanding skyline of bungalows and villas, Ballygunge today is crowded by a community of high-rise apartments that offers world-class living and lifestyle. Carrying a rich history of luxury and exuberance, Ballygunge is an expensive area in Kolkata.

Coming to Alipore, which is an elite and modern suburb of the city, you will find a wide range of multistory apartments and townships in here. So, if you are on a lookout to find a perfect abode for your family, Alipore can offer you great choices to make an informed decision.

These days, some of the new real estate hot spots are doing extremely well in Kolkata. Areas like Rajarhat, EM Bypass area and Garia quintessentially offer great property buying options in affordable prices. According to published sources, the property prices in these areas have arisen to the double in just the past two years. Notably, these areas are the hottest property options in the Southern parts of Kolkata. Road including Prince Anwar Shah Road and Elgin road have seen an unparalleled increase in demand for property prices. You can find some of the prominent real estate developers sizzling up the demand of property prices in the northwest of Kolkata.  In fact, some of the known localities like Howrah and Batanagar have appreciated their property prices to an extent. In fact, these areas have been an attraction for a lot of the NRI investments.

So, if you’re thinking of buying an apartment in Kolkata, this is the right time. Apart from great living infrastructure, the city houses great entertainment zones, recreational facilities, medical facilities, and educational institutions.

Rajarhat - A Kolkata Suburb, Property options for NRIs

From affordable 2 BHK, 3 BHK apartments to the luxurious Villas, an extensive range of property options are accessible in Rajarhat. This Kolkata suburb is attracting the investors from domestic as well as overseas.

NRI Attention

The NRI investments within this area are up significantly in the last few years. About 35 % of investors are from overseas and want to make investment because of earning possibilities this region has.

Also the NRIs are cutting the bulk property investments in multiple parts to avoid fund blocking in any single basket. It leads to the easy exit. The NRIs are making up 20 % of the clients, whereas a further 20 % are not based in city. 

Safer Option

Kolkata is always a safer place for investment as far as property is concerned. The metropolitan city provides by far the most inexpensive range of properties to masses and classes beginning from Rs 8 lakh. The profits are also extremely promising compared with the investment size.

In the year 2008, the recession had badly influenced the property industry in India however Kolkata has continued to be steady, because it is the market driven by end-user having higher demand as well as relatively lower supply.

Many projects are there in city which suit category of the second homes as well as there are a lot of takers to them also. There is mixed bag for the buyers in city from the city residents to the NRIs.

Buying Capability

The buying capability in Kolkata market is very different from the other Indian cities. Generally an investor of Kolkata wants smaller ticket items with price range of Rs 10-50 lakh taking fine profits on the package deals.

Some reasons why the investment became feasible include easy procurement of home loan, particularly for the service class that also provides them tax advantage of Rs 1.5 lakh per annum per head. This is the win-win situation to middle-income segment of consumers based in city.

Buyers are in Win-Win Situation

The rates at posh localities within city like Southern Kolkata is high already as well as they barely have any escalation chances. However it is not the situation with Rajarhat. The potential growth is higher and therefore demand is witnessing the increase.

People are booking properties here through token money with rest of sum is remunerated in next 24 months or consequently till the possession. The rates increase in the meantime so the investors sell that off at the higher prices, even prior to paying off entire money of booked property. 

For more details kindly visit: http://www.indiahomes.com/india-properties/Kolkata-Properties.html

the market of real estate Kolkata

Kolkata is basically a Tier-II urban with its property market less volatile compared to other primary cities. Due to this, the residential sector of Kolkata properties was not seriously impacted with nationwide crash in property market in cities like Delhi, Mumbai, Hyderabad, and Pune.

Though conventionally quite traditional when compared with the other cities, the market of real estate Kolkata has rather profound complement of the investors who are driving it. The eastern market – particularly Rajarhat – has highest existence of the investors, having outnumbering of investor sales as well as end-user’s sales in the recent past. At present, it might be harmless to say that about 60% of the residential property market of Kolkata is taken by investors.

The speed of the recovery from slump is steady – however like all other cities, the development in the rates of residential property is not consistent across all the locations. Well-known central areas demonstrate very much same dynamics compared to other cities like Pune and Mumbai as appreciation possible around peak levels to these areas already. Simultaneously, the demand for all these locations is steady.

To exemplify –CBD (Central Business District) locations starting from the Dalhousie to the Elgin Road are not having much upwards or downwards movements in the residential rates. Within year 2007, they ranged around Rs. 10,000 to 12,000/square feet and currently are between Rs. 12,000 to 15,000/ square feet. The primary areas of Ballygunge and Alipore in SBD have housing rates as well as market dynamics that match those of CBD.

The areas of SBD (Secondary Business District) including Eastern Metropolitan Bypass, Dariahat, and the Central Avenue upon Lake Town situated at the VIP Road have higher appreciation because housing demands spread outward to more reasonably priced areas. Within these areas, the housing rates range between Rs. 2,500 to 4,000/ square feet in the year 2007 to Rs. 3,000 to 7,000/ square feet today. In PBD (Peripheral Business District) areas ahead of SBD, rates are fluctuating from about Rs. 1,500 to 2,000/ square feet in the year 2007 to Rs. 2,000 to 4,000/ square feet today.

The costliest housing areas of Kolkata these days are Ballygunge, Park Street, Camac Street, and Alipore where the rates range between Rs. 12,000 to 15,000/ square feet. Cheapest areas in PBD include Garia and Dumdum where the rates range from around Rs. 1,500 to 2,500/ square feet. Considering the requirement, the prices are expected to rise faster for the residential possessions than in the other property segments.