June, 2014 | Kolkata Real Estate | Kolkata Property

Do you know the real estate situation of Kolkata?

In the last few years the real estate scenario of Kolkata has seen a huge change. The residential flats are available in variety of rates depending on several factors.

In the last few years the real estate scenario of Kolkata has seen a huge change. However, the real estate scenario in North Kolkata is very different from South India.

South Kolkata is the commercial hub of the city. Owning to several offices there, people too want to stay in places nearby. Along with the increasing population, number of residential flats is also increasing in the southern part of the city. The residential flats are available in variety of rates depending on the number of rooms in the flat. The rate of flats is also decided depending on the location of the flats. The rates of residential flats in Kolkata can be highly divided into two different groups. One group of residential flats is constructed keeping in mind the middle class whereas some flats are meant for the elite class people.

With Rajarhat emerging as the new IT hub, the property scenario in North Kolkata is very interesting. Since last few years, several NRIs are investing in Rajarhat. The IT employees also prefer to stay in Rajarhat and New Town as the IT sector is nearby. The land cost here is also quite high.

New projects of apartments are changing the look of the city’s southern part. New apartments are being built in South Kolkata. New residential flats are coming up in places of old individual houses. This practice is very much common in areas like Ballygunj, Tollygunj, Mahestala, New Alipore, Behala, Joka, etc. In fact, there is a mushroom growth og flats all over Kolkata.

How are apartments in South Kolkata raising the luxury meter?

South Kolkata is considered by many as a favourite residential place. Hence one can find several flats for sale as well as luxury apartments here.

South Kolkata, being the commercial hub of the ‘City of Joy’, is also hot favourite as the residential area. With too many offices in this part of the city, people wish to have their homes nearby so that journey to their office becomes easy.

With more and more offices being set up, the real estate scenario of South Kolkata has changed a lot than what it used to be ten years back. If you are an outsider and want to settle down in this part of Kolkata, a newspaper or a broker will help you get good flats which are for sale in South Kolkata. You may choose a flat according to your requirement and budget. In some cases, these flats are second hand, sometimes they are grand new. Many people, who are in need of money, give up their individual houses to contractors for construction of flats. They themselves get a flat in that apartment and also get lump sum of money from the contractor as a price for the land. The flats which are for sale in South Kolkata have their price tag fixed according to their location, facility and of course luxury meter. The second hand flats are comparatively less costly than the new ones.

A number of posh apartments have come up in different parts of South Kolkata. There are several apartments in South Kolkata which have really increased the luxury meter of Kolkata lifestyle. The South city apartments, the upcoming Hiland Greens, the Eden City, and Riverside are all super posh apartments in South Kolkata.

Which are the real estate hotspots in the City of Joy?

Having a residential apartment in Kolkata is a sheer delight no doubt.The emerging locals like Garia are the hotspots in the city in terms of generating high return on investment in form of rental incomes from the property.

The Kolkatans have much to cheer on their real estate investments. Garia is a place which is yielding bountiful returns from the real estate properties in terms of the income generated from them as rentals. It can be well assumed that if you have a residential apartment in Kolkata standing in Garia or the adjacent areas then you will surely reap handsome revenue from it. Say, you have invested about 45 lakhs on the property then you can easily look forward about earning an amount ranging from 15K-30K/month. According to the recent records a 2-3 BHK apartment in Garia would cost about 20-50 lakhs, while lowest cost of a 2BHK is about 20 lakhs and the minimum range for a 3 BHK would be 30 lakhs approximately.

Having a property anywhere in and around the city always have its own set of advantages. If you have a property in north kolkata or South Kolkata, both way you are at gain but there are certain specific locations. As we have been discussing that having a property in Garia has its own benefits. A 2 room apartment might offer rent of about 15-25k per month and in case it is a 2 bhk one then the rent will start somewhere at 20K and hence one can actually guess what will be the actual amount of profit to be gained from the house over the years. Hence, getting a home is no more limited to the “sweet home” concept. It has very well gained a investment approach with a strong return. In case your house is furnished, no doubt the amount of profit would be far higher.

The key point of opting for Garia is its connectivity to EM Bypass and the potential it carries in the upcoming 8-lane expressway connecting it to the city in a much better way. Alongside, the proximity to the metro stations of Kavi Subhash in New Garia, Kavi Nazrul in Garia Bazaar and Shahid Khudiram in Birji have increased the net worth of the place at a great volume. The area also has all the necessary amenities like good schools, hospitals, markets and all others at the vicinity. This has given it the edge over other localities in the city.

How can real estate investment make your retired life happier?

Real estate investment is preferred not only by working but by many retired persons also. Having a retail shop after your retirement is a good idea and you can have a steady source of income.

It is wise to make your retirement plans at the peak of your career itself. With good amount of money at your hand, you can decide how to plan for your after-retire life. Planning right will make your retired life comfortable and tension free. Real estate has always been a good investment option. A much safer option compared to stock market, real estate investment is preferred not only by working but by many retired persons also. You may be a beginner in this field and may wonder how to invest. Having a retail shop after your retirement is a good idea and you can have a steady source of income.

However, you need to consider few things before you actually invest your hard-earned money.

If you start executing your plan of having a retail shop during your service period only, you will be very beneficial. First of all, as years pass property price increases. Hence, if you buy the land or a shop beforehand, later you will be the beneficiary. Market study will be very helpful for you. After you have finalized that you want to have a retail shop , it is time to fix your budget. Depending on the budget, you will have to find a location. Location plays a very crucial role in determining the fate of your business. You should buy property from a developer who maintains a good track record. Do good research of the place where you are planning to buy the property. Check the current property rates and also the scope for further price appreciation. It is ideal to invest in upcoming locations where you can get property at cheaper price. You should also check that the location of your property has less crime rates. Otherwise there will be chances of robbery or theft or damage to your property.

Once you check all these things, you can invest your money and own a retail shop. You can either lend out the shop or you yourself can run the shop. A good time pass after your retired life and a decent source of making money as well.

Real estate agent: Great helping hand

A real estate agent has emerged to become a great helping hand for the ones who desire to purchase or sale their real estate properties.

Before purchasing an apartment, many people consider taking the aid of a real estate agent. This way, it becomes easier to get adequate help and right assistance. The one who is looking forward to buy or sell an apartment may not know anything about the current market condition. On the other hand, the real estate agents have got accurate information about market stability conditions and they are the best persons to whom one can seek assistance. Without their assistance, the entire process of buying and selling of homes and apartment can be a difficult task. If one is not aware of the present market situation, it is better for him to hire a real estate agent and benefit himself with the proper guidance of the agent.

The procedure of purchasing and selling becomes a whole lot easier and simpler with the correct guidance. Simple things can become difficult if one does not have proper knowledge of the actual market prices. It is important to hire a perfect real estate agent who has got all the information related to increase and decrease of the house prices. There are many benefits of hiring the services of an agent who is an expert in the field of real estate investment. Some of the benefits have been discussed below:

(a) Expert guidance: This is by far considered to be one of the most essential requirements in terms of buying and selling of real estate property. An expert and reputed agent serves the buyers with proper assistance in terms of shifting in market prices.

(b) Time-saving: The moment you hire an expert for handling the issues related to real estate, then he completely takes the charge and saves a lot of time of the buyer or seller as he can continue with his work.

(c) Active Representative: Owing to the market complications, it becomes immensely difficult for the buyer or seller to answer all the questions related to the purchase and sale of the real estate property. Hence, a real estate agent is hired to represent the buyer or seller who has answers to all the queries.