Investing in residential flats in Kolkata is the correct move as the city is gaining importance both economically and politically.
The RBI published in its annual report that the real estate prices of Kolkata have risen up by 60% while the national average is 21%. Nine major cities are included in RBI’s quarterly house price index to track the real estate price movements.
Kolkata faced the highest growth of 60% from the 4th quarter of 2012 to 4th quarter of 2013 fiscal plan. While Kolkata bloomed Mumbai witnessed the lowest of 10.6% in the same period.
The highest deals on real estate in Kolkata in the recent times are:
- Kolkata Municipal Corporation (KMC) auctioned a deal of Rs.96 lakh per cottah of a plot on the EM Bypass. The total value of the plot 2 acre is Rs.115 crore.
- KMC sold another plot (3.3 acres) for Rs. 135 crores on EM Bypass in 2009.
- Housing Infrastructure Development Corporation (HIDCO) sold a plot of 2.2 acre for Rs.51.13 crore at IT township of Rajarhat.
Residential Flat in Kolkata
Harsh Vardan Patodia of Credai Bengal opines that the government agencies have set up such a trend in West Bengal, mostly in Kolkata. Transportation and communication has rapidly improved in Kolkata in the last decade. And probably Kolkata is the most affordable metro city not only India but in the whole world. The improvement has surpassed all other metro cities in India and thus leading way to a real estate boom. Construction developers like Liyans are building great yet affordable residential flats in Kolkata.
Thus very good residential flat in kolkata have mushroomed in the suburban areas like Baruipur (south), BT.Road (north), Howrah (west) and Champahati (east). The cost of the land is comparatively low thus affordable yet comfortable housing facilities are available.
According to the RBI reports it is probably the best time to invest a real estate property in Kolkata. Not only because of the prices are affordable but investing in real-estate is almost resistant to economic meltdowns. Residential flats in Kolkata are a safe and great investment.