Kolkata emerges as an ideal real estate destination
Kolkata- The southern and eastern regions of Kolkata are witnessing huge investment potential in the recent years. EM Bypass in the South, Behala located in the south-west and Rajarhat, situated in the east are emerging as prime investment destinations of the city.
Owing to lower asset and land prices, availability of scalable infrastructure and the government’s development initiatives, the city seems to be an ideal investment option to buyers.
Many residential and commercial establishments are coming up along the 21 km stretch of the Eastern Metropolitan Bypass (EM Bypass) which connects the northern hub of Ultadanga to Kamalgazi in the south. Some of the new projects in EM Bypass include Altius by Pioneer Property Management Pvt Ltd, Urban Sabujayan by Envision Realty, Heights by Sukriti Realty, Shell Tech by Shell Tech Construction, etc.
Properties along EM Bypass saw a price appreciation of 6 percent to Rs 5,354 per sq ft in the Oct-Dec quarter of 2012, which was Rs 5,054 per sq ft in the previous quarter. Commercial development and easy access to facilities like hospitals, education institutions, hotels, metro rail, etc have driven the demand for housing in this stretch.
Adding to the city’s connectivity, a flyover connecting EM Bypass with Park Circus and existing AJC Bose Road Flyover is under construction. A 40-metre bridge across the Guniagachha canal is also in the pipeline.
Behala is one of the major suburbs of Kolkata. It houses several residential projects by reputed developers like Merlin Projects Ltd and Swabhumi Real Estate India Ltd. The average locality price increased by 5 percent in Oct-Dec 2012 quarter to Rs 3,579 per sq ft in comparison to Rs 3,421 during July-Sept quarter.
Behala is well connected to all parts of the city by road and metro railway. The area is observing a huge demand for 2 BHK properties. It is in vicinity of markets, hospitals, schools making it suitable for residence.
Rajarhat, now known as New Town is located in North 24 Parganas district. From affordable homes to luxury villas, the area offers a wide range of properties. It is attracting investors from the city as well as overseas.
The average locality price was Rs 3,579 per sq ft in the last quarter of 2012, which was 5 percent higher than the price of Rs 3,421 in July-Sept 2012 quarter. The properties in Rajarhat have observed a significant hike in rental values too.
While Rajarhat has easy access to basic facilities like schools, hospitals, hotels, etc, proximity to airport adds to the value of the properties in this area.
The sprawling township along the eastern perimeter of Kolkata has been witnessing an upswing in both commercial and residential real estate. The land and property prices in Rajarhat is increasing every year and it is a very good place to invest in.
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