Tag: apartments in North Kolkata

What role has Rajarhat played in changing property scenario in North Kolkata?

Investment in real estate and gold give you maximum returns. Real estate in Kolkata has changed drastically over the period of time. However, the scenario of property in North Kolkata is very much different from that of South Kolkata. People settled in North Kolkata much before they started settling down in South Kolkata. North Kolkata is unplanned and suffers from lack of space. Due to lack of land and over population, the property value of North Kolkata is pretty high. However, with Rajarhat emerging as the new IT hub, the property scenario in North Kolkata is very interesting. Rajarhat Township is having good number of NRI investments since last few years. It is not that people are looking at Rajarhat only as investment; they are interested to stay there in the long run, too. 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.

Property in North Kolkata
Property in North Kolkata

On the other hand, South Kolkata is the commercial hub of Kolkata. There are several posh areas and people prefer to settle down here. Construction of a huge number of flats in South Kolkata is the proof of the large number of people willing to settle down in this part of the city. Real estate companies have their projects specially designed for South Kolkata. The flats of South Kolkata are mainly being designed keeping in mind the modern facilities. The flats in South Kolkata are promoted through several celebrities like Sourav Ganguly. The curve of real estate in South Kolkata is observing a high, thanks to good communication system.

The property scenario in North Kolkata has seen a drastic change in recent years, thanks to development of Rajarhat as the new IT hub. Flats in South Kolkata is also being designed keeping in mind the modern facilities.

Advantages of opting for the apartment culture

Flats in South Kolkata

With the passing trends, people have developed a nature of shifting their residences more than often and this has given rise to the apartment culture. The situation has driven to such extent that people who do not own any residential property of their own keep changing their temporary residences in terms of flats on rent. This does not at all make life any better but create various problems for the tenants. The monthly tension of paying a huge amount as rent to the land owner makes life tougher for a tenant which does not let him save enough amount of money for purchasing a house of his own. Purchasing a house takes more money than buying an apartment and this reason is sufficient enough for making people opt for living in apartments than a house. Owning a house in the heart of the city is again next to impossible for middle-income grouped people. It is important to reside in a place which offers good communication facilities and which lets the residents to stay connected with the market, schools, universities, offices, etc. The rented apartment provides one with a complete freedom from tax and property payment but it is important to own a residential property. If one has a transferable job then buying and selling of flats become a regular habit. Shifting apartments becomes easier with flats which otherwise can create problems for others who live in houses.

Let us have a look at some of the benefits of residing in an apartment.

(a) Free from paying property payments
(b) Do not have to pay for renovation charges as the entire cost is beard by the apartment in-charge
(c) Can shift anytime by selling the apartment.
(d) All charges get shared by the other members of the building.
(e) Free car parking as every apartment holder gets to use the garage.

It is important to purchase apartments in places that keep people connected with the town and the flats in south Kolkata are perfectly apt as they provide the end users with excellent communication and other necessary facilities.

People who prefer to use small living space where things are easily manageable then living in apartments is perfect for them. There are various benefits of living in an apartment.