The city of joy has always been an embodiment of
class and culture where you just enjoy roaming around the city, talk about
nostalgia, take a lazy stroll by the riverside and then move on! No one
bothered to consider investing here seriously.
Recently, significant infrastructure development
has contributed to a flourishing real estate market in Kolkata. As the main
city area is reaching a saturation point, developers are coming up with fresh
projects in the fringes of the city. Improvement of road condition, better
connectivity and extension of metro services can be the reason Kolkata is
witnessing a steady recovery of the real estate market.
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| image:primarc.in/realty |
There are certain areas where many top developers
are investing without a second thought. The areas have come under focus mainly
due to the planned development activities and improvement of social
infrastructure. Due to such tremendous growth opportunities, demand for
property in these parts of the city is also witnessing an increase. The first
thing that is considered while buying a home is the location. Though the
definition of a good location is perspective, few areas are gaining much
popularity than others for all the right reasons.
1. Newtown:
The satellite city is becoming one of the real
estate hotspots for the investors and gaining prominence owing to the rapidly
growing IT sector in that area. Newtown is a planned township divided into
three Action Areas comprising of commercial and residential spaces, central
business district, IT business parks etc. Infrastructural advantages and job
opportunities owing to the proximity to Saltlake sector V attracted buyers for premium
apartments as well as affordable homes in Rajarhat. Superb
connectivity through proposed metro, bridges, roads and close distance to the
airport is another reason for the flourishing demand of the area. Educational
institutes, hospitals, shopping malls, retail outlets are also contributing to
attracting investors.
2. Central Kolkata:
Living in the heart of the city is still
preferable by many home buyers. Park circus, Topsia, Tangra along with EM
Bypass Park circus Connector are the most expensive areas of the city and
experience a continuous property price appreciation of more than 10%. The areas
still hold great value for investments due to great connectivity. Expansion of
the metro railway is in the process which will stimulate better connectivity to
the airport. In addition to that, progress work on flyovers and widening of EM Bypass
will smoothen the traffic in the near future. The area is no longer only a
place for safe investments, but it is a destination to reap high profits.
3.
Dumdum:
Located at a distance of 10kms from the centre of
Kolkata, Dumdum enjoys close proximity to the domestic and international
airport. The locality is well-connected to nooks and corners of the city
through Ground Rail, Circular Rail, and Metro Rail as well as improvement
in road infrastructure. Dum Dum has emerged as a very convenient neighbourhood,
considering easy living conditions and the presence of a number of recreational
amenities. Schools, hospitals and other social amenities are also making it a
lucrative market to invest in.
4.
Southern Bypass:
Southern Bypass in Kolkata is becoming exceedingly
popular among prospective home buyers due to the enhanced connectivity, easy
accessibility to the markets, hospitals, prominent malls, restaurants,
multiplexes, educational institutes etc. Property prices scaling to new heights
from Jadavpur to Garia, this area has evolved as the most happening destination
for the home buyers. Accessibility to world-class health care facilities,
parallel accessibility to Kolkata metro railways, EMU line Sealdah south
section and other public modes of transport and convenience made this among the
most preferred destinations in the city.
5.
Joka:
Joka is one of the fastest-growing real estate
locations in South-West Kolkata. Residential properties in Joka are still
available in at competitive price points yet the location is witnessing large
scale infrastructure developments. If you invest in a flat in Joka now,
it is most likely to give good rental returns and
handsome price appreciation in future. Joka covers all the major public
transports in the city and it is strategically located and well connected to
other prominent areas of the city. It is also home to many good educational
institutes, quality health care facilities and modern amenities and offers a
relatively pollution-free environment.
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