subject: Availability Of Flats In Kolkata [print this page] The demand for properties in most big cities in India is high and situation in Kolkata is no different. The rates for flats in Kolkata are really soaring up beyond all expectations. In just a period of 6 months, the prices of flats in Kolkata has become of the order of Rs.800/ sq. ft. Projects in Bhowanipore area of Kolkata attracted the rate of of Rs.2200. sq. ft, a few months ago. But now, the properties in the same area are available at the rate of Rs. 3000 per sq. ft. According to real estate analysts, it is observed that the high prices for flats in Kolkata are mainly in the areas like Anwar Shah Prince Road, Elgin Road in the south and in Ballygunge area. There are a number of factors responsible for this price hike. Some of these factors include the success of new commercial projects, availability of options on property, inspirational quotients, connectivity and improved quality of the roads in Kolkata.
If you are looking for flats in Kolkata, first of all, you should know that some of the renowned places in Kolkata to buy a flat in. Bhowanipore is a place which has a reputation of being a posh locality. Bhowanipore is well known for welcoming educated and wealthy immigrants. Thus, it is regarded as one of the posh and luxurious areas of Kolkata. The great Subhash Chandra Bose lived in the area. Many icons from the film industry like Uttam Kumar and Satyajit Ray also came from this part of the city. Another up market area of Kolkata is Ballygunge. It is in the southern part of Kolkata and in the ancient days, it had some of the biggest villas and bungalows in the city. But now, it has all changed. Apartments have replaced the bungalows. The prices of these properties are on the higher side as these are places of historic importance. Some other places where the prices for flats in Kolkata are increasing are Metropolitan bypass, in the east and the Rajarhat suburbs. In the last couple of years, the property rates in Rajarhat have almost doubled. The prices in southern parts of Kolkata like Elgin road and Prince Anwar Shah Road are reaching to prices, which have been never heard of before. A project developed by DLF in Dankuni region in northwestern part of Kolkata stirred the real estate demand over here. In the Bhatanagar and Howrah regions, the real estate market has really picked up and thus, the prices are also high.
Owing to the fact that many projects are at various stages of completion, many NRI investors are showing interest in buying flats in Kolkata. Although investing in properties in the city of Kolkata might not give you big returns, investing in the real estate is a safe opinion. Compared to other metropolitan areas, the rates of flats in Kolkata are low. You will find this trend in commercial, residential as well as retail properties in Kolkata for rental as well as capital values. The real estate situation in Kolkata is far more stable compared to some of the other metropolitan cities in India like Mumbai, Bangalore and Delhi. The end user segment and the definite property values are attracting a lot of investors to Kolkata.
