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Looking for an apartment in South Kolkata?

South Kolkata which was once a marshy area is becoming one of the most developed areas of the city. New projects of apartments are changing the look of the city’s southern part. New apartments are being built in South Kolkata. There are several instances where an old house is broken down and an apartment rises in that place. It is beneficial for both the house owner and the contractor. The owner gets lump sum money from the contractor and also a flat in the apartment. On the other hand, the contractor also gets the apartment constructed and gets good profit. Apartments in South Kolkata are mainly located in areas like Ballygunj, Gariahat, Tollygunj, New Alipore, Behala, Behala_Chowrasta, Joka, and Mahestala.

South Kolkata being a commercial hub is a hot favourite real estate destination as well. A pretty good number of projects for apartments in South Kolkata are on the go. South Kolkata has got some really high profile projects on apartments. The Eden City and Riverside, Hiland Green projects in Mahestala are some of high profile projects. Former captain of Indian cricket team Sourav Ganguly is the brand ambassador of the Hiland Green projects. These projects have several modern facilities to suit the needs of the buyers. Apartments in South Kolkata offer huge options to the buyers. There are several houses on sale as well in South Kolkata. If you are looking to buy a house in the city of joy, you must check the South Kolkata areas. With a little investment on renovation, you can actually buy an individual house which is put on sale.

Being a commercial hub, apartments in South Kolkata are very much in demand. If you want to own an individual house in Kolkata, you will get houses on sale.

Buy a residential apartment in Kolkata and be the profiteer

The real estate market in Kolkata is booming at a fast pace and is steadily turning to a vibrant sector. There are umpteen localities in and around Kolkata which are capturing the attention of real estate customers to a great extent. The selection of residential apartment in Kolkata ranges from luxury villas to affordable condominium. Hence there are choices to fulfill all kinds of requirements. Apart from that the selection of infrastructure, accessibility, facilities and amenities are also in plenty, hence there is no way that one will be left disappointed while on a spree for searching a residential property or flat for sale in Kolkata.

If anyone has the desire to invest in the real estate sector then Kolkata is one of the most lucrative options and there are number of reasons guarding the fact. The availability of scalable infrastructure, comparatively low prices of lands and assets and the fast paced government initiatives and subsequent developments are some of the most important factors that has driven the real estate sector in the city to greater horizons. There are still great potential for growth in the sector and because the prices are still favorably low, hence it can be well anticipated that better returns can be achieved over the years. Thus, newer projects are coming up every other day enhancing the cityscape and driving new hopes and aspirations of possessing a flat in Kolkata in the minds of the citizens.

The real estate market in the city is growing by leaps and bounds and that in turn making the city a hot spot for buying, selling and renting out properties over here. The enhancement took place not just in terms of the price of the properties but the rental charges for both residential properties and commercial spaces have increased to a great extent. This happened majorly with the well organized development of commercial and residential units, townships, SEZs and so on. So, it is high time that one must opt for investing in the thriving sector and reap profit in the long run.

The real estate sector in Kolkata is gradually enhancing with new high-end projects coming up steadily and this testifies the boom in the sector creating investment potential offering high ROI. So opt for a residential apartment in Kolkata and earn huge profit comfortably.

Real Estate companies in Kolkata Shaping the City’s future

Of late Kolkata is drawing lots of attention as a great destination for hot real estate deals. The young and enthusiastic investors are really finding it a very lucrative option to invest in a chosen deal of property in Kolkata. The interest got renewed for a number of reasons. Once Kolkata was one of the premium cities and at the onset of the 21st century Kolkata witnessed an economic boom with the transformation of the economic policy by the government of West Bengal. This in terms brought in huge investment in the sectors of infrastructure, hospitality, retail and of course real estate.

The interest got rekindled once more and more people are looking forward to invest in a selected property in Kolkata. Not only the residents of Kolkata are taking a plunge into the proposition but also the residents of other towns and the bulk of NRIs are coming forward to buy properties in Kolkata. The main interest is revolving round housing options belonging to the mid segment.

Another reason behind the growth of the real estate sector is the improvement of the transportation system in the city and development of new roads and other routes. New set of flyovers, bypass connectors are being established in order to facilitate easy commuting norms throughout the city. This lead the different real estate companies in Kolkata to come up with projects outside the city limit. Thus, it can be said that the availability of economical and accessible communication facilities in the city is the key factor to the rise of property price in Kolkata. The extension of metro railway project is yet another reason to make the sector so very remunerative.

The suburban area in Kolkata that has seen great growth in the real estate sector are BT Road (North), Howrah (West), Baruipur (South) and Chandpur Champahati (East). The other areas within the urban limit that have great demand for real estate properties and where the real estate companies Kolkata are coming up with the most attractive projects are EM Bypass, Rajarhat and Behala.

The Kolkata real estate market is growing big time and is playing a crucial role in shaping the city’s future. Investing in a property in Kolkata will indeed derive great ROI.

Houses & flats for sale in Kolkata – Kolkata Classifieds – Liyans.com

Despite the negative sentiment surrounding West Bengal’s image, property prices in Kolkata have continued to escalate.

Defying the national trend, residential real estate prices have appreciated between 20 and 30 per cent in the last two years, say realtors. However, the high returns are not on account of a booming real estate market in the state, but the lack of new projects in the city and its fringes. As a consequence, prices of existing properties have risen, almost disproportionately.

After, Durgapur, no new planned city has come up near Kolkata over the last decade. Even plans to develop satellite townships in areas like Bariupur in the southern fringes of the city has failed to take off. Suburbs in West Bengal continue to be victim of poor infrastructure and connectivity.

Notably, unlike tier I cities like Delhi and Mumbai, Kolkata real estate market caters to end-user buyers, rather than speculative investors. The ticket size of the investment is also low, between Rs 2 crore to 5 crore, compared to Rs 10-15 crore in other Tier I cities.

“The slowdown the real estate market is linked to the general economic slowdown, rather than local issues. In the medium and long term, the investment perspective in Kolkata is fairly good. The price escalation is mainly in prime locations. The supply is limited, and in good locations the land holding is small, which has resulted in steep rise in prices,” said Harshavardhan Neotia, Chairman, Ambuja Realty Group.

“In the short and medium term, some projects in Kolkata have given up to 30 per cent return to investors, which is much better than other cities. ” said Jitendra Khiatan of Pioneer Properties.

Yet, not many consider investing in Kolkata. The reason is negative sentiments linked with the business environment in the city, he said.

Some of the areas where investors got good return include prime locations like E M Bypass, Salt Lake, Garia, where property prices recently escalated in anticipation of Metro linkages.

A major reason for the unrealistic land prices is linked to government policy.

Land prices have gone up by more than 50 per cent in many plush localities, as demand remains steady and hardly any new townships have come up in urban and semi-urban areas in city fringes.

The recent land auction by government bodies like Kolkata Municipal Corporation (KMC) and Housing Infrastructure and Development Corporation (Hidco) give a fair idea of the burgeoning land prices in the city. In June this year, KMC sold a 2-acre plot on EM Bypass for Rs 115 crore, making it the biggest land deal in the city so far. The last big land deal was in 2009, when a 3.35-acre plot on EM Bypass sold for Rs 135 crore. More recently, in the IT township of Rajarhat, a 2.5-acre plot for a retail-cum-office complex fetched Rs 51.13 crore for Hidco.

“The value of land has gone up by around 50 per cent in Kolkata, the impact of which will be reflected in the upcoming project. The land supply is reducing, but the demand remains steady and there are hardly any new townships coming up to meet the demand,” said Santosh Rungta, a city-based realtor.

Yet high land land prices in West Bengal is not exactly new. Around 2009, in the earlier Left Front regime, government agencies made windfall gains by selling land in prime locations.

For example, three prominent government agencies involved in land deals in and around Kolkata — the Kolkata Metropolitan Development Authority (KMDA), Kolkata Municipal Corporation and West Bengal Housing Board– signed deals worth more thanRs 18,000 crore, for over 5,250 acres of land during the period in little over two years. In fact, KMDA was credited with signing deals, worth more thanRs 800 crore with real estate developers on a single day.

One of the biggest hurdles in developing new townships in West Bengal is the the Urban Land (Ceiling and Regulation) Act (ULCA), 1976. According to the Act, the ceiling limit on vacant land in a category ‘A’ city like Kolkata is 7.5 cottah or about 500 square meters.

West Bengal is one of the few states in the country to have a legislation like the ULCA. The move is in sync with the apprehensions of the chief minister. After all, Banerjee had once wondered, “What will happen if someone wants to buy the city?”

The demand for repealing the ULCA was raised for the first time by Godrej Properties chairman Adi Godrej, at an industry meet within the first month of Banerjee taking over as the chief minister.However, much to the disappointment of the developers, urban development minister Firhad Hakim has recently ruled out the possibility of repealing the Act.

“We are not going to abolish the Land Ceiling Act,” he said. “Instead, we will give permission to developers for purchase of land beyond ceiling, provided they reserve 30 per cent housing for low-income housing segment.”

Source: Business Standard

Tips to Buy and Sell Residential Apartment in Kolkata, India

Real estate business is a highly unpredictable business venture in India. Buying and selling of real estate property has equal probability of both profit and loss. Timing is the keyword in any real estate property dealings. Selling at the right time can result in huge profits.

The basic idea to make profit in real estate business would be to buy when the prices are low, hold the property till you feel the value has reached its peak and has saturated, and sell it out keeping a huge profit margin. But the problem which usually arises following this rule is the huge maintenance costs involved during the holding period which increase manifold in the metropolitan cities such as Delhi and Mumbai. This waiting period is very frustrating as you only have to incur expenses, which might reduce your profit.

Here are certain tips for a committed and serious real estate investor:
1. Decide what to sell?

Choosing the right kind of property and the proper investment method is highly important. Different kinds of property should have different ways of investment.

The most reliable property in which one can invest in to get an assured return on investment (ROI) is rental property. Rental property comes for as low as Rs. 5-6 lakhs in small towns. I am from a small town called Durgapur in West Bengal and I know how these properties are selling like hot cakes here. What one has to do is to simply stay in the house for a period of time; repair it occasionally for which you can also get tax exemptions and finally sell it. Although returns are guaranteed in investments of this nature, they usually trickle down slowly.

Owning commercial property is a better proposition compared to business property as the hassles of repairing the property as in a residential property is greatly reduced. Investing in such property usually bears good fruit. Location and infrastructural facilities should be taken into consideration while investing in commercial property. You get a better price for a location where you get the Metro, Railway stations, Bus Stands and local bazaars easily.

Owning a plot of land and selling it at the right time is one of the easiest and most profitable kinds of investment. This kind of investment doesn’t have any recurring costs associated with it and is thus a pretty safe investment. The waiting time can be particularly long in investments of this sort.

2. Gauging the Market

In real estate business you have to be always very aware of the existing market conditions. India is a very fluctuating market, so keep an eye on it. Buy when few are actually buying else you may have to buy in the listed price. Sell at a time when you are in a position to make a good offer. Calculate the time value of money before declaring the price. Keep note of the expenses incurred during the holding time.

3. Pricing

This is the most important part of a real estate business. You have to be smart enough while pricing keeping in mind the competitive environment, the future utility of the property and other important issues like location of the property in the cities of India and the demand of the particular property. Thus, you can easily expect Rs 8-10 lakhs for a 3 bedroom flat in the Gurgaon region, which is the upcoming technical hub of Western India.

These are the few tips which can help in your decisions of selling and buying real estate property, but ultimately it is your will to take a risk and your vision which will make you reap good benefits from buying and selling of real estate property in India.

Source: Property India News