Amid the peaking rental returns and higher capital appreciation, Behala in the southern pockets of Kolkata has caught the attention of residential investors. With nearly 50 percent of the market supply, 2 BHK configurations priced within Rs 45 lakh remained a crowd-puller whereas 3 BHK ready homes manage to grab the second spot on the popularity charts.

Behala is one of the sought-after residential locales in Kolkata that has primarily benefitted from the upcoming Joka-Esplanade metro corridor. The 17 km-long high-speed rail corridor is slated for completion in 2021 and will connect Behala with several notable locations in the city including Diamond Harbour, Joka, Park Street and Esplanade.

Other factors that have helped Behala in earning a sweet spot among prospective homebuyers include an improved supply of residential inventory, affordable ‘asks’, quality infrastructure, commercial growth and higher capital and rental returns.

According to 99acres Kolkata Insite Report (Apr-Jun 2020), Behala remained a popular housing destination among tenants and yielded around five percent rental returns, YoY. The capital values also reported a four percent yearly growth, almost at par with the established locale of Salt Lake that clocked a five percent capital hike in the same period.

Crucial factors driving the realty market of Behala are:

Affordability

Despite the quarterly capital appreciation of four percent, property prices in Behala are tagged at Rs 3,700 per sq ft, i.e. around 50 percent lower than the popular micro-market of Tollygunge in proximity. The current average residential values in Tollygunge stand at Rs 5,550 per sq ft.

“The reasonably-priced properties have garnered the attention of many potential homebuyers in Behala. The area is mainly preferred by those who are willing to purchase low-cost homes with a few premium amenities. Ready-to-move 2 BHK units are more in demand with 3 BHK configurations being second in the lead,” shares Nakul Himatsingka, Managing Director, Ideal Group.

Configurations

Average capital values

Monthly rental rate

1 BHK

Rs 15-20 lakh

-

2 BHK

Rs 35-45 lakh

Rs 8,000-12,000

3 BHK

Rs 50-65 lakh

Rs 9,700-12,400

Sources: 99acres

Presence of quality infrastructure and numerous colleges and industries in the vicinity has also boosted the rental market of Behala. The average rental rate in the area stands at around Rs 14,000 per month for a standard 1,000 sq ft apartment.

Assortment of inventory

“Today, be it the baby boomers or the generation X, both the group of homebuyers prefer to settle in well-established areas that assure complete security and convenience, and Behala is one such area that offers it all. Apart from the peaceful environment away from the scramble of the city, Behala is an ideal residential landmark in Kolkata that provides an abundance of housing opportunities across budget and configurations, shares, Arya Sumant, Director, Eden Realty.

  Housing inventory available in Behala

 

 

 

 

 

 

 

 

Source: 99acres

The abundance of employment options in the vicinity

Behala is a famous industrial hub of Kolkata, comprising of several pharmaceuticals, chemicals, plastic, recycling, metal plating, galvanising and spray-painting factories. Besides, a host of technology-driven companies in Tollygunge, Alipore and Salt Lake also contribute to the realty popularity of the area as people prefer to stay in proximity to their employment hubs. A few companies located nearby are CyberSwift Infotech, Ventrux Informatics, WBO IT Solutions, Innovitas Information Technology Services, Wipro and Experis IT Pvt Ltd.

Superior connectivity

Juxtaposed along the National Highway (NH) 12, Behala lends seamless connectivity to Diamond Harbour, BL Saha Road, Kriparampur, Ramkrishnapur, Shirakol and Gangarampur. Besides, the Taratala flyover is also a crucial connectivity link that connects Behala with other areas of South Kolkata in less than five minutes. The micro-market also boasts of well-connected rail infrastructure. It is around 14 km from the Kolkata Railway Station, and the upcoming Joka-Esplanade metro corridor is also expected to augment the rail nexus in the area. The city airport is around 27 km via Bangaon-Kulpi Road.

Numerous public provisions

The advantages of living in an elite infrastructure like Behala are manifold such as proximity to schools, banks, malls, healthcare centres and restaurants. The micro-market is generously dotted with several renowned restaurants to satiate gourmet lovers. Food is an essential part of the city’s culture, and people tend to identify themselves with it, shares Himatsingka.

Additionally, Behala is also home to some of the reputed educational institutes in the city such as MP Birla Foundation Higher Secondary School, DAV Public School and KE Carmel School. A few distinguished healthcare centres are also located in Behala such as Vidyasagar State General Hospital, BP Poddar Hospital & Medical Research and RSV Hospital.

Investment prospect

With the existing infrastructure being enhanced by new developments, Behala’s appeal among homebuyers will be soaring high in the next couple of years. 

The average capital asks in Behala have surged by around 22 percent from Rs 3,000 per sq ft to Rs 3,700 per sq ft in the last five years. Himmatsingka anticipates a further 40 percent hike in the property prices in the next couple of years in the backdrop of the upcoming metro connectivity.

The higher rental yields also reflect the investment potential of the micro-market. Hence, if you are willing to leverage more returns on investment, then the micro-markets along the NH-12 in South Kolkata may meet your expectations.