subject: New Projects Act As Drivers In Kolkata Market [print this page] Today Kolkata is opening its doors to new age developers with modern day constructions and innovative architectural ideas. City of Joy is looking up to the real estate sector. As consumers in the city are aware of the different lifestyle options and are getting their demands met by builders.
With real estate developers such as Ideal Group, DLF Group, Unitech and Diamond Group launching their residential property in Kolkata, home buyers have quite a few options to choose from. The new developments are happening in areas such as Rajarhat New Town, EM Bypass, Tollygunge, New Alipure and Jessore Road.
The property in Kolkata have acted as drivers and have lead to appreciation in property values in the city. Property prices have increased by 5-15% depending on specific locations. Premium category properties have been increasing at EM Bypass, Ballygunj, Jodhpur Park, Rajarhat-Town, Mayfair Road, Loudon Street, Dumdum, Lake Town etc.
Major factor affecting the real estate scene in Kolkata is the growth of the software industry in and around Rajarhat and Salt Lake in East Kolkata, leading to appreciation of capital values in these areas. Rajarhat location where capital values of apartments and plots in the premium segment witnessed marginal appreciation and the rental value of apartments in the category too grew. In different regions of Kolkata the capital values of apartments in the affordable category did not change much, some of the exceptions were Ballygunge Circular Road and Loudon Street in Central Kolkata where the capital values appreciated by around 12 percent.
In addition to Rajarhat, the apartment capital values in the premium segment appreciated in selected localities in Ballygunge Place and Ballygunj Circular Road in Central Kolkata, Alipore, Anwar Shah Road, EM Bypass, Jadavpur and Jodhpur Park in South Kolkata and Dumdum and Lake Town in the North.
Kolkata realty sector is expanding and a fair number of new residential and commercial properties are being launched enhanced demand of house in the affordable and premium price brackets has fuelled city developers to launch new residential properties across the city.
As Kolkata following Delhi NCR footsteps is seeing new real estate developments along the metro route areas such as Bansdroni Road located at 10 kms from city centre near surya sen metro station is witnessing new residential projects. New residential projects are attracting buyers and investors from near and far place as the current capital values is in the affordable price range. Also, it is expected that the prices will appreciate after completion and they will become premium as stated.
