Kolkata: The capital of West Bengal is a hot pudding when it comes to investment in real estate. Data shows that Kolkata hosts over 75 per cent of the inventory stock in the affordable segment present in nine major property markets of the country. Here are the top five localities in Kolkata to invest in Right now for better returns:
The posh well known sub-urb in Kolkata, is an integrated township. The Kolkata international airport is four km from New Town, which will soon be connected through a Metro line. Presently there are 293 projects in different stages of construction, a data with a real estate site shows.
There is availability of 1BHK-6BHK houses. Prices range between Rs 23.4 lakh and Rs 3.4 crore. Average price psf comes to Rs 3,697.
This is also a well-established sub-urb in the north of Kolkata. New Town, Dum Dum and Keshtopur encompasses the area. With 170 projects, Rajarhat has the highest number of projects available for purchase. Plots are available too at the price of Rs 11 lakh. Apartments in 1BHK-5BHK configurations are available. Average price ranges between Rs 22 lakh and Rs 1.45 crore.
Howrah is a prime location in Kolkata, lying on the south bank of the river Hooghly. The locality will soon be connected to other key parts of the city through the East-West Corridor (Line-II) of the Kolkata Metro. Not just that, the route will also have the first under-water Metro tunnel that will lead to Howrah.
Projects include 1BHK to 5BHK houses and average price of these apartments ranges between Rs 15 lakh and Rs 1.82 crore. Average price comes to Rs 3,698 psf.
With average price of Rs 2,920 psf, Joka is an emerging and affordable real estate market. Units are available in 1BHK-7BHK configurations in a price range of Rs 13-97 lakh. PLots also available for Rs 7 lakh.
In Barasat, one could find apartments in 1BHK-4BHK configurations with average price ranging between Rs 9.73-32.62 lakh. The locality will soon be connected to the Kolkata international airport through a Metro network (Line-4).
A southern suburb, Garia real estate market has gained momentum as connectivity gets better. This includes the expansion of the E M Bypass into an eight-lane expressway, an enhanced Metro accessibility and the arrival of the Garia-Airport Metro Link.
Owing to its proximity to Kolkata's international airport, Dum Dum has become a prime location. It is also looked upon as an affordable place to buy property.
This area is known to be the best locality in south Kolkata. The average property prices in this area stand at around Rs 3,800 per sq ft. The area offers affordable housing compared to the posh locality of E M Bypass.