An Overview Of The Real Estate In North Kolkata
If you are planning to invest in a residential project in Kolkata, this is probably the best time to execute your task of investment. Flat price in Kolkata has seen a serious fall, thereby making it easier for the end-users to get hold of their dream apartment. Even though Kolkata is is the most affordable cosmopolitan city in the nation, residential apartment price drop along with other commercial development is making this city an apt place for dwelling.
How can we be so sure?
For the first time in seven years, real estate Kolkata is observing a price correction with a substantial drop in purchase price owing to the courtesy discount from the developers. The city at present is all set to woo end-users as the flat price in Kolkata has gone down by 11% (as per data derived from Makaan.com). At present, Kolkata nestles 16363 ready-to-move-in units in the city and 12279 are under construction.
If we segregate the flats in Kolkata location wise, you’ll see the top localities in Kolkata like Bhawanipore comes with an average property price of Rs 10,112 per sq ft. When it comes to liveability quotient, the locality scores a perfect 10. The region is well infused with neighborhood amenities like restaurants, schools, hospitals, public transportation, and others. The price growth of properties in Bhawanipur is approximately 3.7 percent, thereby making it a perfect destination for the investors.
Next, we focussed on Elgin which is yet another top-notch locality of Kolkata. The prices of flats in Kolkata in this region are as high as Rs 19,800 per sq ft. However, available or under-construction properties in this region are very few and at present, the prices of the apartments seem to have fallen.
While regions like Bhawanipore and Elgin might not prove to affordable for all, you can buy flats in Kolkata in regions like Kalighat and Gariahat for an affordable investment. At Kalighat, the average property prices stand at Rs 9,950 per sq ft and for Gariahat the average price of a property stands at Rs 9,300 per sq ft. The liveability of the regions is quite high (ranging from 9.7 to 9.6 on 10 as per Makaan.com), thereby making it an apt place to reside. However, the prices of a property are directly proportionate the infrastructure, availability of projects, the age of the construction and its quality, closeness to strategic locations etc.
Hence, How much will you have to Spend for Purchasing a Property in Kolkata?
As per a recent research, maximum properties in Kolkata are priced at Rs 24-35 lakh followed by Rs 34-43 lakh. And the best part is, nearly 7,000 units are available in this range of collectively, thereby enabling the middle class and upper-middle-class section of the society to get hold their dream apartments.
However, if you have plans to buy villas and independent homes, check out regions in greater Kolkata or North Kolkata like Hooghly Chinsurah, Kalyani Barrackpore Expressway, Amtala Baruipur, Barrackpore Barasat Road, Doharia, Madhyamgram and Akra where you’ll get 1 BHK homes starting from 10 lakhs.
What Else is New in Real Estate Kolkata?
The growth of luxurious residential project not only in South and Central Kolkata, but also in North and greater Kolkata. For example, if you check out Madhyamgram, you’ll understand that the region is emerging at a fast pace. While at one time the region lacked features to provide an individual with a well rounded lifestyle, today it is surrounded by such features. One of the most upcoming prominent projects of the region is the Windflower residential project. A creation of Signum Group, the project has tapped on all the best features of Madhyamgram to provide the individuals a lifestyle which was a mere dream. This real estate Kolkata project is flawless on all the aspects, be it location, connectivity, apartment specifications along with facilities and amenities. Furthermore, the project comes within an attractive price range, from 24 lakhs to 45 lakhs.