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Buyer Driven Kolkata Realty Market

By Vinay Jain Subscribe to RSS | July 9th 2012 | Views:

Looking to speculate in Kolkata realty market? The real estate market in Kolkata has been steady and has not been speculative. It's provided sensible returns to investors and has proved to be a healthy marketplace for the particular users. The market has primarily been driven by the particular user, a symbol of a healthy realty market.

While answering queries on the ‘Prospects of realty in Kolkata’, Mr. Sureka addressed realty considerations from over thirty users. The queries ranged from investment potential in markets like Tollygunge, Salt Lake, Rajarhat, New Town etc, to the best timeline to remain invested in property in Kolkata and appreciation rates in numerous localities. When asked concerning the investment prospects in New Town, Sureka said “New Town is promising as it’s an organized township which is able to take 4-5 years to mature. It's tremendous chance for investment over a horizon of 3 years.” He conjointly added that one ought to invest in residences within the locality because it could be a safer bet and value investing in. From an investment purpose of view, East Kolkata, particularly areas in and around the E M Bypass, presents sensible growth opportunities and moderate risk over a duration of 2-3 years. The property costs are expected to grow along the East-West Metro particularly within the Eastern stretch.

Talking concerning the timeframe one ought to keep invested for to urge sensible returns. Realty must have an extended term horizon. One must keep invested a minimum of for a duration of 3-4 years so as to urge returns. The property market in Kolkata ensures tight returns on all variety of properties. Kolkata normally provides 8-10% once a year.

Sureka was positive concerning the rental markets in Kolkata additionally. He steered that Highland Park could be a sensible choice for those craving for affordable rented housing. He additional added that the realm conjointly guarantees a minimum of 5-6% rental returns on residential property in Kolkata in case one needs to speculate within the locality. Areas like BT road, Jessore Road space and Lake Town project an honest demand for rented units. These localities even have lots of floating population and so is also targeted to achieve rental returns.

Queries were raised on the problem of cheap housing within the town. Mr. Sureka steered, Baruipur as an honest choice for cheap residences where one will expect to urge a property deal inside the vary of Rs 7-10 lakh. He elaborated that the govt has sure plans in Baruipur, that when implemented, ought to offer superb returns. “You ought to investigate Garia and Narendrapur and conjointly towards Joka if you've got a rather higher budget of around Rs twenty five lakh. With the metro growing in these areas, prospects are high. The Sureka cluster is developing with a reasonable housing project outside Baruipur referred to as Sunrise Junction. The project offers residences price around Rs 8.5 Lakh for a 2BHK unit.

Owing to these low costs a lot more folks are currently investing during this area. Very famous for its fruit orchards, Baruipur is currently the speak of the city for the proposed headquarters of South 24 Parganas district. This has attracted several new residential property in Kolkata.The locality is in close vicinity to the railway station and features a ton of scope for upcoming development. So, it is turning into an investment zone for patrons yearning for reasonable choices.

Vinay Jain - About Author:
PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in Kolkata.

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