Not long back, the Cultural Capital of India was always consistent in putting up a sorry figure in terms of real estate development. This was a primary reason why Kolkata was lagging behind its metropolitan counterparts like Delhi, Mumbai, and Bangalore when it came to real estate investment.
As they say ‘every cloud has a silver lining’, Kolkata’s real estate sector faced a similar fate. After decades of narrow potholes and unplanned localities, the tables have turned. Be it the tallest building in the country (The 42) or one of the longest metro routes in India, the City of Joy is gaining new highs every day.
As a potential real estate developer or a flat buyer looking to purchase 2 BHK flat in EM Bypass you must be quite curious to know about the multifaceted aspects of real estate in the city.
In this blog, we aim to shed some light on some of the most important factors associated with real estate growth in the city. Some of the most important factors in play are:
Compared to other metro cities, the property price in Kolkata is still very much affordable. This encourages top real estate developers to invest in more projects. As a result, some of the top real estate builders are coming up with numerous residential projects with top-notch features that guarantee a desirable lifestyle. It also benefits the buyers as they get access to a luxury lifestyle without burning a big hole in the pocket. Given, the amazing progress and rapid infrastructural growth, the property prices are escalating at a galloping pace. So, if looking to invest in a flat in Kolkata then the right time has arrived.
Reports and stats suggest that the real estate sector in Kolkata is rising by a staggering 11% on a yearly basis. And one of the primary reasons behind it is the emergence of new townships. Places such as Garia, Sonarpur, Dunlop, Joka, and Rajarhat which were once regarded as the suburbs are now the centre of world-class residential projects in Eastern India. There are numerous upcoming luxury residential projects in these parts of the city.
Be it for a single bachelor or for a family, transportation is an essential consideration in buying any residence. The demand for properties has witnessed a significant spike ever since the construction of new metro corridors. The expansion of Dum Dum to Tollygunge metro route has provided a certain boost to the popularity of properties in the Garia-Sonarpur region. There are many new upcoming metro projects happening in different parts of the city, which will further bolster connectivity. The recent completion of much-awaited Maa flyover and construction of new roads have dramatically improved Kolkata’s connectivity. This flyover connects Central Kolkata to the IT hubs of the city. On the other hand, there is a myriad of world-class residential projects in places close to the EM Bypass. The EM Bypass needs no introduction. It is very close to the heart of every Kolkatans as it connects the remotest part to the main hubs of the city.
The mindset of people has changed significantly. Gone are the days, when location and carpet areas were the only 2 things people checked when investing in a flat. The modern flat buyers focus on lifestyle when choosing a flat. This is why the modern-day flats are packed with ultra modern amenities such as coffee parlour, gym, swimming pool, yoga centre, kids’ playground, basketball court, and more.
Few Words to end with
Besides agriculture and tea, real estate is another booming field in the City of Joy. Every year new projects are coming up with avant-garde features. The top builders in the country are already focusing on exploring the unending real estate opportunities in Kolkata.
This is extremely good news for buyers. For instance, prospective buyers looking to purchase a 2 BHK flats in EM Bypass, Kolkata comes across a plethora of options to choose from. And this is the situation for the most part of the city.
Over the next five years, many new metro stations and bridges are scheduled to be completed. This will further enhance real estate opportunities in Kolkata.
In simpler words, the future looks very bright for real estate development in Kolkata.