Affordable properties in Kolkata
Kolkata is one of the major metropolitan cities in the country. Harbouring exceptional talent in the field of music, dance, art, and literature, this city is culturally diverse and immensely profound. In recent years, Kolkata has marked its spot on the map due to its effective policies of simple living and community sharing. Many ethnic groups reside in its boroughs with complete harmony and immense sense of brotherhood.
Several IT companies have set up camp in the recent years. In doing so, they have perpetrated the trend of internal migration, affecting the property price trends in the region. People in search of affordable housing options are looking towards Kolkata as a solution to their conundrum.
Earlier market trends
The real estate prices in the city have witnessed a somewhat upward trend, now. It will come as a surprise that there had been minimalistic developmental activity in the past decade. This was mainly because several ventures undertaken to build holistic townships in the city could not be implemented.
Most of the houses were, and still are, being bought by individuals with permanent settlement plans as opposed to the other metropolitans where property is bought as an investment option. Due to this reason, the property rates in Kolkata are very less as compared to its urban counterparts, thereby facilitating affordable housing options in the city.
The slackness in the real estate pricing was mostly attributed to the economic slowdown, a development which is expected to improve after economic recovery.
Current real estate situation
The negative perception of people regarding property purchase has abated to a large extent. Moreover, the state governments efforts in improving the deadened industrial sectors has also upgraded the real estate façade of the city. Several leading IT conglomerates from all over the country have taken profuse interest in this region, boosting the price trends.
Technopolis, a huge IT park, registered under the United Nations Framework Convention (UNFC) on climate change, is being constructed in the Salt Lake region. Royal Indian Raj International Corporation (RIRIC) is expected to develop large scale housing and commercial townships in the city. The largest IT park of Kolkata, Rajarhat, is expected to house 20,000 executives in the coming years.
Apart from these, several other companies like Wipro, ITC InfoTech, Satyam computers, ICICI One Source etc. are planning to set up centres in the city. Hence, it is quite evident that large scale industrial development of Kolkata will soon witness profitable returns in the real estate department.
Budget housing options
Reasonable residential localities are being constructed by several builders in the city. DLF and Unitech have taken a special interest in Kolkata due to its sudden inclination towards industrial development. A large number of affordable properties are available for sale to meet the requirements of the general population.
Some of the most lucrative budget housing options available are Sugam Park, Asansol (Rs.14.21 – 22.86 lac), Green Heights, Rajarhat (Rs.32.96 – 56.6 lac), Star Greens, Harinavi (Rs.27.09 – 37.5 lac), and SU CASA Wood, Narendrapur (Rs.15.09 – 35.91 lac) amongst many others. The complete list of upcoming ventures in Kolkata can be obtained online.
A recent project worth mentioning is Hiland Greens in Maheshtala, South Kolkata, being constructed by Hiland Group. The majestic high-rise will have 2 – 3 BHK apartments on sale. Priced at Rs.18.8 lac to Rs.27.95 lac, this residential property is pocket-friendly at best.
The builders have spared no cost in providing some of the latest facilities and amenities to its residents. Round the clock security will also be available. Investing in Hiland Greens, Kolkata, is a complete value for money.
Several IT companies have set up camp in the recent years. In doing so, they have perpetrated the trend of internal migration, affecting the property price trends in the region. People in search of affordable housing options are looking towards Kolkata as a solution to their conundrum.
Earlier market trends
The real estate prices in the city have witnessed a somewhat upward trend, now. It will come as a surprise that there had been minimalistic developmental activity in the past decade. This was mainly because several ventures undertaken to build holistic townships in the city could not be implemented.
Most of the houses were, and still are, being bought by individuals with permanent settlement plans as opposed to the other metropolitans where property is bought as an investment option. Due to this reason, the property rates in Kolkata are very less as compared to its urban counterparts, thereby facilitating affordable housing options in the city.
The slackness in the real estate pricing was mostly attributed to the economic slowdown, a development which is expected to improve after economic recovery.
Current real estate situation
The negative perception of people regarding property purchase has abated to a large extent. Moreover, the state governments efforts in improving the deadened industrial sectors has also upgraded the real estate façade of the city. Several leading IT conglomerates from all over the country have taken profuse interest in this region, boosting the price trends.
Technopolis, a huge IT park, registered under the United Nations Framework Convention (UNFC) on climate change, is being constructed in the Salt Lake region. Royal Indian Raj International Corporation (RIRIC) is expected to develop large scale housing and commercial townships in the city. The largest IT park of Kolkata, Rajarhat, is expected to house 20,000 executives in the coming years.
Apart from these, several other companies like Wipro, ITC InfoTech, Satyam computers, ICICI One Source etc. are planning to set up centres in the city. Hence, it is quite evident that large scale industrial development of Kolkata will soon witness profitable returns in the real estate department.
Budget housing options
Reasonable residential localities are being constructed by several builders in the city. DLF and Unitech have taken a special interest in Kolkata due to its sudden inclination towards industrial development. A large number of affordable properties are available for sale to meet the requirements of the general population.
Some of the most lucrative budget housing options available are Sugam Park, Asansol (Rs.14.21 – 22.86 lac), Green Heights, Rajarhat (Rs.32.96 – 56.6 lac), Star Greens, Harinavi (Rs.27.09 – 37.5 lac), and SU CASA Wood, Narendrapur (Rs.15.09 – 35.91 lac) amongst many others. The complete list of upcoming ventures in Kolkata can be obtained online.
A recent project worth mentioning is Hiland Greens in Maheshtala, South Kolkata, being constructed by Hiland Group. The majestic high-rise will have 2 – 3 BHK apartments on sale. Priced at Rs.18.8 lac to Rs.27.95 lac, this residential property is pocket-friendly at best.
The builders have spared no cost in providing some of the latest facilities and amenities to its residents. Round the clock security will also be available. Investing in Hiland Greens, Kolkata, is a complete value for money.
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