Kolkata: Capital values of apartments along EM Bypass increased 10% in three months
There was a noteworthy 10 percent increase, in a period of barely three months, in capital values of apartments in the localities in the vicinity of Kolkata Eastern Metropolitan Bypass (EM Bypass) area.
According to the figures released by one of India ‘s Property Portal, the capital values of apartments along the EM Bypass have, on an average, increased from Rs 4850 in the fourth quarter of 2013 to 5300 in the first quarter of 2014.
To put it differently, the figures reveal that the average cost of a 1000 sq ft apartment, which earlier cost Rs 48.5 lakh, has now increased to Rs 53 lakh.
With the 21-km EM Bypass connecting Bidhannagar in the northeast of Kolkata to Kamalgazi in the south, the presence of a strong residential and commercial sector along the Bypass is the apparent reason behind the continuous rise in demand for property in the area.
Since the EM Bypass connects some significant landmarks – including Salt Lake, Maniktala, Sealdah Railway Station, Park Circus area, Gariahat, Jodhpur Park, Selimpur, Mukundapur, Lake Gardens, Jadavpur, and Garia -, Infinite Property Management’s Suvojit Chakraborty has said in a statement with regard to increasing capital values of apartments along the Bypass: “Prices have increased in almost all the localities along the Bypass because of the unending demand from both buyers and investors.”
Source – The Times of India
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