Nov 21, 2019

Top 5 locations to buy a home in Kolkata

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.
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.

Let’s check out the most booming localities of Kolkata for buying a 2BHK apartment:

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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