Kolkata, formerly known as Calcutta is the one Indian city that defines culture and festivities. Based on the east shore of Hooghly river, the city is today synonymous to West Bengal. With political stability, high per capita of income, and a friendly culture, Kolkata finds itself in the list of top cities to live in. The ease of adjusting that the city offers has also led to a constant demand for property in Kolkata.
The real estate demand here is always positive also because of the fact that the property rates here are much lower as compared to any other metropolitan cities of the nation. The positive sentiments that the city witnesses also influence the price trends in Kolkata, which always end up on the positive side irrespective of the market is functioning.
Types of popular properties in Kolkata
Kolkata offers a wide variety of property type depending on the individual buyers' requirement, purpose, budget and locality. From residential apartment to duplexes, commercial space to farmhouses, one can find a variety of options in the city. However, with restricted land availability in the city, the supply and thus the demand for villas, builder floors, and residential land are surpassed by that for residential apartments. While the percent of independent house, residential lands, and builder floor demanded by buyers is less in Kolkata, but it still exists as a premium segment in the city. Read More
Real estate Kolkata
Kolkata – the city of festivals and joy is the one Indian city that aims at giving joy in all segments of life. From culture and safety to a stable office environment, Kolkata is the one place that people look up to when looking to bringing some positive changes in their lives. Along with making all walks of life a stable one, the real estate segment of Kolkata is also one of those sectors that have been receiving positive sentiments from buyers both local and national. Kolkata was the third most populous metropolitan area in India in 2011. Kolkata has a lot of space on offer to both commercial and residential property buyers.
The city has different areas to cater different income groups; it ranges from residential properties, commercial properties to rental properties, posh areas and others. Being such a vast city, selecting a nest near the work place is very important. Kolkata real estate is considered one of the most affordable property markets, as compared to its other metro counterparts, in India. Owing a property in Kolkata is worth high returns on investment, and the credit for the same goes to the rising demands and the stable Kolkata property market.
Increased rental and capital rates, both in residential and commercial property market, have made investments in Kolkata the most profitable real estate move. People from all backgrounds are coming up to settle here in the city, making Kolkata one of the most demanded real estate locations of India.
If we talk about the few of the demanded areas of the city, then here is the list:
Rental properties in Kolkata have gained a huge interest in the property market, with the advent of industries; there is a massive increase in the number of migrants. As per the surveys, the rental graph of the whole city is extremely positive with the increasing number of people coming here to make a career. The most opted rental localities of Kolkata are:
With the advent of manufacturing units, MNC's, shopping malls and restaurants, commercial property market has received great momentum. Commercial new projects are developing and widening in all the directions of Kolkata as well as in adjoining areas. Over a few years, the investors and corporates are investing money in real estate in Kolkata. A few of the city's commercial real estate hubs are as follows:
The proposed upgradation of infrastructure, remodelling of railway networks and increasing demand of commercial property in Kolkata has uplifted the commercial real estate world of Kolkata. A few upcoming projects in the city are expected to change the commercial outlook of Kolkata – Godrej Waterside, Globsyn Crystals, 23 Circus Avenue, and Primarc Tower among various others.
Kolkata is the main financial and commercial hub of North and North – East India. The city is also the house of Calcutta Stock Exchange market. It is the one city in which people work for both primary, secondary, and tertiary sectors in high numbers.
The city witnesses a number of sectors that are operating successfully here including - steel, heavy engineering, electronics, cement, mining, minerals, pharmaceuticals, textiles, food processing, agriculture, and jute.
Kolkata is made accessible to other parts of the nation through National Highway 2,6,34, and 117. Other than that the city has four bridges to eliminate congestion from the roads, namely – Howrah Bridge, Vidyasagar Setu, Nivedita Setu, and Vivekananda Setu.
To make people reach one part of the city to another in minimal time and with minimal traffic congestion, limelight, the city of joy has two prominent expressways running – Belghoria Expressway and Kona Expressway.
Upcoming developments like widening of Eastern Metropolitan Bypass and ongoing work on flyover connecting Batanagar to Garia and Joka has become a reason for increasing demand of the property market in Kolkata.
Railways, Metros, Yellow Taxis, and Buses rule the public transport of Kolkata. There are some areas in Kolkata where trams are operational, but it is only a matter of time when trams will not be seen in the city anymore. The city's main bus terminals are located at Esplanade and Babughat. Along with a metro line that covers the city north-south wise, Kolkata has a total of four intercity railway stations in Sealdah, Chitpur, Howrah, and Shalimar.
The strong transport network that Kolkata has, had made it the Top Indian City in terms of a well-planned public transportation network.