Kolkata, the commercial capital of Eastern India is also the topmost metropolitan city of the country. More than 15 million people stay here. The city is broadly divided into three categories namely central, eastern and southern Kolkata. The central region includes Elgin road, Park Street and Carnac Street. Eastern region on the other hand consists of Rajarhat and salt lake. Rashbehari and the raja road are the part of southern Kolkata.
Reasons to Invest in Kolkata
The real estate developers are trying their luck here. It is said that within few years more than 250 millions square feet will be added to the city with a total investment of 37500 crores. According to the real estate sector sources, the regions that could expect a rise in property prices are the harbor road, Howrah, Garia Narendrapur, Batanagar etc. the living cost of Kolkata is less than other cities of India and this is one of the most important reasons why the investors get affordable flats in Kolkata.
The market graph has increased constantly since past few years. All the sectors including the residential, retail and commercial sectors have seen great improvement. Gone are the days when Kolkata was called as the Lazy city. Now, it is known as a prospective and expansive city where buyers and sellers can try their luck.
Kolkata is accepting modernization in almost all the sectors. The government is making all possible efforts to establish it as a world-class city. The absorption rate of residential properties has steeply increased. The major developments like suburbs, bypass, Rajarhat etc. have comparatively high absorption rate.
Investing in the Plots
Instead of investing in the low cost homes, investors and real estate developers are trying for open plots and lands. These lands are located beyond the boundaries of Kolkata. As far as the communication and transportation is concerned, Kolkata is the cheapest city. This is why middle class people are also interested in lands near the city. Due to cheap transport rates, developers can also build office spaces or buildings and apartments in those regions, which are far from city centers.
Properties at Cheap Rates
Buyers could check out newly developed homes in the suburban areas of Kolkata like Howrah in west, Baruipur in south, chandpur in extreme east and the BT road in the north. They not only offer cheap prices, but great commuting facilities and economic crunch. No doubt, time is in the favor of investors. They will never get such great deals in any other metropolitan city.
Moreover, the developers of Kolkata have started following the trends and models of other famous cities like Chennai, Mumbai and Bangalore. They have incorporated several things in their residential projects like free air conditioners, modular kitchens and so on.
The NRI Indians are also investing in the real estate market of Kolkata. They are trying to make a safe bet by playing their cards right. The developers in Kolkata believe that a good project is the result of perfect location, facilities, designs and the amenities.