The real estate industry in India is evolving and is making great leaps in innovation and sustainability. Among all the urban cities in the country, Kolkata is making impressive strides in the real estate market. With so many premium, new housing projects in Kolkata, the city is taking modern living to the next level.
Here are seven reasons why you should preferably build your dream abode in the City of Joy.
Development of Properties in Central Locations
Over the past few years, the City of Joy has witnessed a surge in residential projects. Many new upcoming real estate projects are coming up in posh neighbourhoods like Park Street, Ballygunge and Southern EM Bypass, etc. With new launches and redevelopments, these places have become attractive hotspots for both developers and homebuyers.
Refurbishment of Outskirts and Suburbs
The real estate landscape is developing at a rapid pace, especially in the outskirts. If you now go to places like Rajarhat, Barasat, etc. you will find new residential projects propping up, adding a touch of modernity to the quaint life. The suburbs are well-connected to the city through well-rounded transportation, thereby simplifying commute for many office goers. For people who want to embrace a life of luxury and serenity, they can always check out the properties in the suburbs.
Availability of New & Affordable Housing Projects in Kolkata
Price is an important concern for every homebuyer. When it comes to investment for your dream home, you want to do it right. The good news is that unlike other metropolitan cities like Bombay, Delhi, where prices touch the roof, in Kolkata you will find good options of modern affordable housing projects. When you invest in properties here, you will get great returns. Another positive thing about the real estate market in Kolkata is that it is very stable as it is an end-user market. Whenever there is a demand for any property, the supply remains high. This gap is dealt with by top developers who are bridging this gap with premium projects in high-end locations.
Opportunity for Price Escalation
When you invest in new upcoming flats in Kolkata, you will, in all likelihood, experience price escalation. In most cases, you will have to book with a certain amount of money and then pay the rest in possession. This period is favourable for homebuyers as the prices of the properties tend to increase and they can sell them off at high rates. This is another reason why people should consider investing in property in Kolkata.
Availing Rental Income
Investing in the real estate industry is a good source of earning income. You can rent out a flat or duplex house to the tenants over 11 months. The value of the rent is revised up to 7-10% which also raises the chances of getting more income.
Asset Appreciation
You can invest in new housing projects in Kolkata, for end-use as well. Real estate shows a higher appreciation value and produces great returns. This can be another way of creating financial security for your family and loved ones.
Advantages of Location
The upcoming real estate projects in Kolkata are propping up in prime locations. These locations are spruced up with every modern convenience needed for a large family living. They are seamlessly connected to the main hub areas via metro, buses, taxis, etc. Transportation in Kolkata is considered affordable when compared to other cities. Taking things forward, due to more metro corridor developments, connectivity in Kolkata will surely reach new heights.
Kolkata scores full on these seven factors, which concludes that it is a favorable destination for buying homes shortly. If you are a home buyer and want a headstart in house hunting, then check out Subikash Group, an upcoming residential project located across Kolkata.