If there is one developing city that provides one of the finest deals for buying real estate, it is Kolkata. In the city, there is an infinite supply of justifications for buying real estate. India’s real estate market is developing and advancing greatly in terms of sustainability and innovation. Buy properties in Kolkata can be a smart move as In terms of the real estate market, Kolkata is leading all other urban areas in the nation. From connectivity to employment opportunities, Kolkata is elevating contemporary living to a new level with its abundance of upscale, brand-new apartment buildings.
We can see a steady graph of growing real estate market in Kolkata. According to the economic times , Kolkata has become one of the largest real estate market in terms of Mumbai, Hyderabad, Noida. Compared to Kolkata, which has a constant graph in the real estate market, particularly in the area of residential properties, fast-growing major centers like Mumbai, Bengaluru, and Hyderabad see greater development in their property markets. Major participants in the real estate industry have invested in real estate companies in Kolkata, especially given the present market slowdown trend (covid-19), and this has been made possible by the real estate sector’s impact-resistant quality.
Kolkata is the only location where you may purchase a residence for any price in surroundings that are at least passably good. A budget of between 25 and 35 lakh rupees is sufficient to buy a respectable home. By exploring the different websites of builders, you can easily choose any ideal home.
How is the real estate market in Kolkata?
For numerous reasons, Kolkata is one of the most important real estate markets. One explanation is that many of Kolkata’s strategically placed areas are up for renovation. As a result, there are various new houses with a wide range of facilities available for sale in places like EM Bypass, Ballygunge, Beliaghata, etc. Second, there has been tremendous expansion and development in Kolkata’s suburbs. There are several completely built districts with in-demand homes available, including Rajarhat, Salt Lake, and New Town. A apartment in Kolkata is a great investment because of the city’s strong real estate industry. With price increases of 2-5% on average every year, real estate is one of the most lucrative investments in India.
Here are the top 5 reasons why buying properties in Kolkata is a smart move –
Connectivity –
You are able to discover the economical transit system in Kolkata while you browse the greatest real estate website in India. One of the crucial reasons to buy properties in Kolkata is the huge connectivity. The government has prioritized strengthening the transportation system in addition to the electric AC bus services by granting licences to private buses, smart cabs, shuttle pull vehicles, etc. The metro train infrastructure makes it possible to quickly get around the city’s edges from the north to the south. The new housing developments in Kolkata are rising in prestigious areas. These areas have been updated with every modern convenience required for a large family to live there. Through the metro, buses, taxis, and other means, they have smooth access to the major hub locations. When compared to other cities, transport in Kolkata is thought to be inexpensive.
Development of new projects in posh location –
The City of Joy has seen an increase in residential construction projects during the last few years. In upscale localities like Park Street, Ballygunge, and Southern EM Bypass, etc., several new prospective real estate developments are sprouting up. These locations have gained appeal as destinations for developers and homebuyers due to recent launches and redevelopments.
Availability of various Under construction properties –
The increase in demand for ready-to-move-in homes in Kolkata deserves special attention among the latest real estate trends that have appeared there. And did you know that purchasing a pre-built house is more expensive than purchasing a flat that is still being built? This city has seen the emergence of several luxury home buildings. These house developments provide a wealth of tempting features that any prospective homeowner would like. A really opulent lifestyle with plenty of amenities for exercise and leisure is guaranteed by the opulent residential estates in Kolkata. Under construction condos continue to be the most popular choice, even if many purchasers still select ready-to-move-in residences.
An opportunity for side/passive income –
Just because of the employment possibilities in both public and private sector companies, Kolkata draws residents from different areas, including the north side, and south side. Purchasing real estate in one of Kolkata’s burgeoning neighbourhoods, like Kestopur, might make it simple for you to locate renters and generate the passive income you’ve set out to achieve. With side Hussle, You can’t go wrong with picking Kolkata as the ideal city if you have decided to buy properties in kolkata and then rent it out. This is due to the fact that tenants can be found in practically every area of the city.
How much expensive to live in Kolkata ?
It is surprising to hear that the cost of living in Kolkata is cheapest compared to other cities. For example – it will take around 10-15k to live in a rent in a 1BHK flats. On the other hand,1-bedroom flats in Bangalore or Noida starts from rs. 15k-20k and in Mumbai it takes around 235-40k to live in 1 BHK flat. So as we can see it is less cheaper. If you are looking for a cheaper place to live , Kolkata is ideal because it is not as pricy than other major cities.
The real estate sectors are flourishing in Kolkata. All the developers here are expecting for more creative policies and assistance from the government. If policies like policy rate relaxation and interest rate restraint are successfully implemented in the real estate sector at the local level, the overall cost of purchasing a property will decrease, stimulating the percentage of homebuyers, and its positive effects will be apparent in the real estate market in the future. While selecting the best real estate properties in Kolkata, you can hire AR realtors to get professional help.
