Tag: residential flat in kolkata

The rates of the real estate property in Kolkata not very much high

Kolkata the state capital of West Bengal is one of the most favored places to live in India. Having various historical monuments, Kolkata is a city in India that stands for the city of dreams in the eastern part of India. Geographically located at the western coast of the Hugli River, Kolkata is the fifth largest post in the Country. Kolkata has been shaped well by the British and the French people in the recent centuries. Today Kolkata is known for its remarkable history and politics.

Kolkata plays a Communist Side of Politics. There is more happy people than any other city in India. This is why the city is called the City of Joy. The monuments that were developed in the British rule, are giving it a name of the City of Palaces. Today Kolkata is an Education hub, having most respectable and reputed colleges in its womb.

Kolkata is the first Indian city to have a metro rail route and is honored with as a metropolitan city. A large number of Bengali and other Indians are keen to buy a property in Kolkata as it the city that offers more employments than any other city in the state. Even if Kolkata is the state capital of one of the largest states in India, it is comparatively a lesser expensive city.

Even the rates of the real estate property in Kolkata is not very much high. Other metropolitan cities in the country do not exactly offer a buyer friendly real estate market. Specially the Northern areas of Kolkata, the real part of the state comprises of historical heritage and monuments and Multi storied old residences of the city.

And now the property tax in the city has been reduced by the mayor of the city. And this makes Kolkata a prospect destination to own a residence. A circular was issued last month regarding this news. The circular said: They are providing a separate statement showing outstanding dues or zero outstanding dues along with tax bills for 2012-13. This new settlement will reduce the harassment of taxpayers with respect to the higher AMC
There will also be an option for the Kolkata people to get a NOC (No Outstanding Certificate) by the Kolkata Municipal Department.

And now after the announcement of the CRR deduction by the RBI, home loans are expected to get cheaper. This may also boost the demand of the real estate property in Kolkata.

Kolkata being a coastal area offers a nice climate around the year. One can always find cool places to hang out in the city.

Kolkata is the second most populated city in the country. The demand of the real estate property has been radical and a quite stable. But with the launch of various residential and commercial developments at affordable rates, this demand may rise. Almost every day, companies announce their projects to be developed.

Source: Real Estate Sonepat Property in Sonepat

Alchemist to invest in Kolkata realty project

Alchemist Township India, a Delhi-based realty firm, is planning to develop a realty project in Kolkata, West Bengal.

To acquire the required land for the proposed project, the company has inked a deal with a local builder, Highland Group. As per the deal, Alchemist Township has purchased two million sq ft of prime residential land from Highland Group at Kolkata Riverside, a satellite township development encompassing 262 acre being developed on the banks of the Hooghly River. Property consultant, Jones Lang LaSalle India, facilitated the transaction.

The company will invest Rs 600 crore to develop a realty project. The project will include a 25 acre IT Park, various commercial establishments catering to the services sector, physical infrastructure and advanced lifestyle features such as a golf course.

Source: Projects Today

Growth Of Kolkata Real Estate

In the last couple of years, Kolkata real estate, has witnessed manifold increase in residential capital values. The major transactional areas include South Central Kolkata, E M Bypass, Kankurgachi, Phoolbagan, Beliaghata, Garia-Narendrapur in the Southeast, Behala-Joka in the south west, Rajarhat in the northeast, BT Road in the northwest and Howrah in the west.

The mid-end residential property segment which was available in a range of 8-15 lakh an year back is now available for Rs 20-25 lakh .The premium budget apartments which was available in the bracket of 25-35 lakh one year back has gone up to 45-75 lakh .

30% of the demand is real estate market in Kolkata is driven by the IT and related sectors. According to real estate consultant Sandip Sen of Calcutta Skyline, A little hit has been there for the Middle segment as the remuneration pattern has not been able to match up to the real estate price hike .In Kolkata the average demand is still in and around 20 lakh but there isn’t enough supply in this segment.

The average size that is sought after in the middle segment is around 1,000 sq ft for around 18-20 lakhs and for the premium segment it is around 1700-2500 for 50-70 lakh.

Apartments have always been the preferred option vis of vis bungalows in Kolkata. Says Sandip Sen, Apartments definitely come cheaper and resident can avail of all facilities and amenities in a huge complex. A lot of projects are coming to Kolkata wherein the apartments and bungalows are part of an integrated township.

There is a lot of interest generated in the investor community for the city of joy. Most of the big real estate brands such as DLF, Vatika are already there plus FDI is expected to flow into the city in a big way.

Source: RMA

Barasat, The New Residential Investment Attraction In Kolkata

Located in the northern fringe of Kolkata, Barasat is transforming into a well-established residential area. Situated on the Jessore Road, Barasat promises good location with easy access to civic amenities.

Barasat, which was earlier less developed, is growing at a fast rate and is giving other areas such as Rajarhat and New Town, a run for their money. Experts in the industry say that Barasat is becoming a sought-after option as it is affordable as compared to other areas and is well-connected to business hubs.

The area was less crowded earlier but now it is developing by leaps and bounds. All facilities like hospitals, schools and shopping complexes are in the vicinity and the area is also affordable as compared to other areas.

Barasat is just 15 minutes away from the Netaji Subhash Chandra International Airport and the railway station, Barasat Junction, is also at a distance of about 10 minutes. It is also favourable for people as it is closer to NH-34 towards north Bengal and is also near the Salt Lake.

In multi-storey apartments along this stretch, the major features are ample parking space and lush greens. The apartments are serviced with facilities such as swimming pools, courtyards, gyms, maintenance, security, etc.
Presently, the sale values in the area are in the range of Rs 1600 and Rs 2,600 per square ft.

There are less of 1BHK apartments whereas the 2BHK configuration with an area of 450-800 sq ft is more in demand. The 3BHK apartments are constructed in 1100 sq ft area. A 2BHK unit is available at rental values of approximately Rs 18, 000 per month while for 3BHK it is about Rs 27,000.
As per the experts, the proposed metro station is expected to bump up the rental values.

Barasat is a desirable location for property buyers and approximately half the buyers are end-users. A 30 per cent return on investment, accounts for the other half of buyers being investors.

Major developers that include Fortune Group, Sanjeevani Developers, Vedic Group etc, who are coming up with residential projects in Barasat attracting end-users, especially from North Bengal itself.

Source: aawas.in