Tag Archives: Kolkata real estate

Affordable Housing blog Real Estate Real Estate News Smart Residential Living

Driving Factors in Kolkata’s Residential Real Estate

Driving Factors in Kolkata’s Residential Real Estate

Kolkata, the state capital of West Bengal is one of the fourth most populous cities of India. Popularly referred to as the town of joy, the land is wealthy in its culture and tradition. When it comes to its real estate scenario, the city is witnessing rapid growth in all the segments ranging from high end to affordable properties.
City’s property market witnessed a couple of major enhancements in seeing that all the important estate market players have up their game, and are actively participating in this multi-core market.

The real estate sector in Kolkata, according to statistics, has shown a growth of 11% on a yearly basis.
There has additionally been the expansion of diverse townships. The Garia Baishnabghata Patuli township, the Behala township, the Alipore township and the currently emerging township in Rajarhat, New Town, Joka, Garia, Sonarpur, Barasat are a few examples.

This rising administrative district additionally provides cheap rent and fairly priced property compared to property costs in different metropolitans. The demand for property has seen a tremendous spike ever since the construction of the Metro Railways. There is already a metro corridor that connects Dum Dum to Tollygunge and was later extended to connect Noapara to Garia. The metro corridor currently under construction, also known as the East-West corridor will connect Salt Lake to Howrah, making connectivity a dream come true for commuters.

Kolkata is basically an End-user market and shown rapid growth in affordable housing in recent few Quarters. People living in B towns and working in Kolkata are preferring to buy property in the outskirts of Kolkata. The main reason for this is the affordable prices of properties in the outskirts.

Mukesh Agarwal pic

Insights by:
Mukesh Agarwal
Director, Maa Durga Properties

Read More
blog Buying property Real Estate Smart Residential Living

Insights on Kolkata Residential Real Estate Market

Pioneer Property

Insights on Kolkata Residential Real Estate Market

Kolkata, traditionally an end-user driven market has exhibited vibrant growth in the residential real estate market in the past few years. The core city grows exponentially over time both towards north and south directions with corresponding development of social and civic infrastructure because of population explosion and fast urbanization. It has been the driving force for sustainable demand for affordable residential properties in and around Kolkata. The realistic value proposition for the residential units, strong market foundation, and relatively stable political scenario have given a competitive edge for Kolkata over the other metro cities in India. The introduction of HIRA (Housing Industry Regulatory Authority) from 1st June 2018 has further strengthened the market nerves in terms of transparency, accountability, and trust. It has been recorded that the majority of the ongoing residential projects and just completed projects from reputed builders in city and suburb locations have been showing steady absorption over the last few quarters. Kolkata has witnessed many new launches especially around the city suburb areas like Birati, Madhyamgram, Barasat, Belghoria, Sodepur, Barrackpore, etc. in the north and Garia, Boral, Narendrapur, Baruipur, Behala, Thakurpukur Joka etc. in the south side of the main city to meet the continuous demand from the buyers. The BT road and Jessore road are the major northern suburb thoroughfares which have seen rapid construction activities due to gradually improving transport and civic facility and the availability of suburban railway network running parallel to these roads. In the southern suburbs, the fast development and metro connectivity alongside the long stretches of Diamond Harbour Road (Joka, Thakurpur, Amtala) and NSC Bose Road (Tollygunj-Garia-Baruipur) have been instrumental for its transformation as a preferred zone of affordable residential settlement. The PMAY (Pradhan Mantri Awas Yojna) scheme of affordable housing has also stimulated the overall market demand.

The transaction of properties in Rajarhat-New Town area is also taking right pace as the entire locality gradually upgrade its basic infrastructure, offerings of social amenities during last few quarters. Moreover, smooth connectivity and the proposed expansion of metro railway network to link the core city and other suburban areas give added feature for the ongoing and upcoming properties to attract the potential buyers. Additionally, this satellite township continued to draw the attention of the IT professionals due to its proximity to Salt Lake Sector V, the well-developed IT hub of Kolkata.

The EM Bypass and adjoining neighborhood have rapidly changed the skyline of the eastern fringe areas of the city during last decade and still continue to attract the hi-end buyers with the superior residential projects amidst of greenery and excellent all-around transport connectivity. The upcoming Garia-Airport Metro connectivity has also increased the demand for properties. The premium residential projects around the well-established posh localities in Kolkata like Alipore, Ballygunje and some selected south-central city locations generate limited supply targeted for a niche segment of citizens in Kolkata with a steady appreciation of property value backed by sufficient demand.

Yash ji

Insights by – Yash Vardhan Kejriwal
Executive Director – PIONEER PROPERTY MANAGEMENT LTD.

Read More
blog Real Estate Real Estate News Right Step Smart Residential Living

Kolkata Civic Body Has Decided to Demolish Highly Unsafe Buildings

Kolkata_municipal

Kolkata Civic Body Has Decided to Demolish Highly Unsafe Buildings

Kolkata Municipal Corporation has decided to demolish highly unsafe buildings across the city which has become unsafe in the monsoon. The decision has been taken by Mayor Firhad Hakim at the civic body’s monthly meetings last Saturday. The issue came into highlight when a Congress councillor, Prakash Upadhyay asked to know about the future of unsafe buildings across the city.

The mayor admitted that it was becoming very difficult for the Kolkata Municipal Corporation (KMC) buildings department official to protect various old structured buildings which have become old and caught major cracks.

The mayor assured that the civic body (KMC) would take care of the rights of the tenants and assure that no tenants are removed. He further said that authority doesn’t want people to lose their lives following the collapse of unsafe buildings in the past – especially in the monsoon season.

In most cases, it is seen that tenants have to lose their lives every time an unsafe building collapse. The residents maintain to stay in the old and dilapidated buildings and rarely depart in fear of losing the property.

Hakim ordered the buildings department officials of Kolkata Municipal Corporation to recognize very weak and unsafe buildings and demolish those at first to save the lives of the occupants.

After identifying and demolishing an old and dilapidated building, the civic body will set up temporary or alternative homes for the tenants at the site. Apart from that, the Kolkata Municipal Corporation’s assessment department will register the names of each and every tenant to protect their concern. Subsequently, the buildings department officials will also be ordered not to approve plans of any buildings or structures on the same land without proper rehabilitation of the tenants. By doing this, KMC wants to assure the tenants that nobody will lose their house after demolishing of the dilapidated building.

As per Kolkata Municipal Corporation buildings department’s senior official admitted that more than 100 buildings across the city were in an unsafe condition and needed to be demolished as soon as possible.

Image Sources: Google

Read More
Buying property Real Estate Real Estate News Smart Residential Living

Ozone by Srijan Realty : A Luxurious Paradise for Homeowners

OZONE-_-NRI-POSTGone are the days when people were merely content with a roof over their head, no matter how compact; earlier, all that homeowners needed was four walls and basic amenities like parking and 24/7 water supply. However, today, our fast-pasted modern lifestyle and burgeoning disposal incomes have led to a much higher standard of living, which is reflected in our demand for homes that are luxurious as well as comfortable.

Srijan Realty is in tune with the needs of this generation, which is why we offer ready to move in and under construction premium homes, with approvals from leading banks and financial institutions. Let’s take a look at our award-winning Project Ozone in South Kolkata, which encompasses a whopping 530 luxury 2/3/4 BHK apartments at the starting price point of just 70 lakhs!

Prime Location: Your daily work commute is sure to be quick and convenient when you live at Ozone, as it is located at the South EM Bypass, which is very close to Shahid Khudiram metro station near Garia. Driving to work or to nearby malls, banks, schools, and hospitals is also hassle-free, as our complex is well-connected by a network of roads.

Amenities Galore: We go well beyond the basic amenities of ample parking space for you and your visitors, 24-hour water supply, and 24-hour backup electricity, as Ozone has an exclusive 30,000 square feet club with luxurious facilities. You can play indoor and outdoor games of your choice, keep yourself fit by working out at the gym or by practicing aerobics and yoga at our dedicated center, cool off with a nice long swim, and relax at the sauna and Jacuzzi. You can also socialize with like-minded people and celebrate festivals at the spacious community hall, as well as host parties in the party area. You will never get bored while staying at Ozone, which also houses an amphitheater for performing plays and enjoying a larger-than-life movie experience. What’s more, your elderly parents and relatives will love taking quiet walks in the senior citizens’ park, and your kids can safely learn to swim in the toddlers’ pool.

Safety First: As Srijan Realty considers the safety of you and your family to be paramount, we have an experienced security team that constantly monitors the complex via strategically placed CCTV cameras. The security guards will call you to alert you of potential visitors, and only authorized persons will be allowed to enter your building. If you notice anything amiss from your house or require assistance due to a medical emergency, the security team is just an intercom call away. Metros have witnessed an increase in the number tragic house fires recently, but we are fully prepared with an advanced firefighting system.

Peaceful Environment: Living in polluted cities not only causes and worsens problems such as asthma but also robs of you mental peace. Our hectic jobs and family responsibilities leave us only a couple of weekends to de-stress at a greener and more peaceful environment. Living at Ozone means that you no longer need to book weekend getaways to escape the overcrowded city’s noise and air pollution. Your dream home is in perfect harmony with Mother Nature, with its verdant lawns, lush green parks, and nearby natural water bodies. You can contemplate the mysteries of life in the Meditation Centre or rejuvenate after a long day at work by taking a leisurely stroll. The serene environment is not only great for the elderly but also for children, as your kids can learn to play games outside, instead of staying glued to their phones and iPads.

The Perfect Investment: While you savor each moment spent at your elegant home in Ozone, you will also be pleased to see a steady appreciation of your real estate’s value. And if your job requires you to change cities or countries, your luxurious investment will pay for itself in the form of rental income.

So whether you’re looking for your dream home or are keen on investing in real estate, your search ends with Srijan Realty’s well-designed Ozone project!

Read More