How And Where To Buy Inexpensive Residential Plots In Kolkata?

Real estate markets are in the throes of certain pressing and specific changes in today’s times. Gone are the days when you could actually save up and buy reasonably priced plots to build yourself a dream home. Building a house is something that has become more and more difficult in today’s times. The mushrooming of apartment complexes and enclaves is one reason for this and the increase in professional real estate activity has led to a shortage of land and residential plots for private buyers. Companies and developers usually snap up plots and land units in almost all areas available well in advance. This leads to a plot crunch for buyers who want available land at their desired price point.

Finding or getting hold of residential plots at a reasonable price is next to impossible in today’s times. The Indian real estate market has grown in leaps and bounds since the last few years. Real estate activity has grown hugely on the back of immense demand. The demand supply conundrum still exists these days. Why is this so? In spite of economic fluctuations, the demand for housing is more than the inventory on offer. Though this balance is being reversed in some areas owing to sky high prices, this is still a basic reality that affects prices in turn. Prices are not coming down in most areas owing to ever prevalent demand. Alongside, prices have stagnated at levels which make it impossible for normal buyers to afford them.

Developers have to cope with inventory that remains unsold but cannot do anything to reduce prices. Do you want to buy a residential plot in Kolkata? You may be in for a tough time in normal cases as Kolkata is not a cheap city to buy property and live in anymore. Kolkata real estate prices have appreciated to the tune of 60% over the course of a few years. Real estate prices have now witnessed saturation and prices of plots or residential units are impossible to deal with for the mid and entry level segment. You have to look at your budget first before buying. Most new buyers face a tough time negotiating with brokers, agents and other dealers for the proper price of a residential plot in Kolkata. You need not worry anymore. Here are the best places to find cheap residential plots in Kolkata.

A huge land bank and supply of virgin land at very attractive rates has led to residential plots becoming the newest fad in the city of joy. All throughout the last quarter, people have been looking at investing in residential plots even in the outer and peripheral regions of the city. Investors are looking at snapping up residential plots owing to the huge land bank in the overall region. There are multiple residential plots which have been listed for sale and their prices range between INR 1 lakh to INR 5 lakhs in Kolkata. Sizes of these plots vary between 720 square foot and 2160 square foot. According to contemporary statistics, a 720 square foot plot can be purchased for INR 1 lakh in Joka. Garia is another region where prices are the same and INR 1.9 lakhs is the price for a similar sized plot in Barasat. Diamond Harbor is one area where you can find the same size within a price of INR 3 lakhs to INR 4 lakhs.

At Sakker Bazar, you will get a 1440 square foot plot for about INR 3.5 lakhs. If you look at areas like Thakur Pukkur, you could also purchase a similar sized plot for approximately INR 2.5 lakhs while a similar sized plot in Baruipur would cost you around INR 4.5 lakhs. A similar sized plot in Barasat would cost you around INR 5 lakhs. A plot of this size would come at INR 2.6 lakhs and the prices would be around INR 3.6 lakhs for a plot in Behala. There are 720 square foot plots in Amtala and Kalyani which come at anywhere between INR 3.5 lakhs and INR 5 lakhs. These plots are south facing plots and also face the major roads. If you can increase your budget over the INR 5 lakhs mark, you can get a really good deal even in areas like New Town.

Alongside, there are two kottah plots which work out to around 1440 square foot on an average. 2 kottah is the maximum size that you require for a plot to be sanctioned in Kolkata and this is something that you have to keep in mind while planning to purchase residential plots in the city. Alongside, you can actually get plots which still sell at low prices of INR 1.25 lakhs for every kottah. This is seen in areas like Rajarhat, Diamond Harbor and Joka. Appreciation of prices will be taking place soon with the expansion of transport facilities, infrastructural development and upcoming metro access. You should invest in a residential plot now in order to avoid hefty rises in prices that are a general norm in Kolkata.

Location is the major bulwark of all real estate development and in areas like Barasat, you can get huge returns on your investments. In about five years, you can expect appreciation up to two times the value of any residential land. New Town has also seen an increase in the rates of residential plots. Connectivity will also be enhanced in areas like Diamond Harbor and Joka over the next few years and returns on investment will be up to three times on the price you paid initially for any plot. Middle income groups opt for construction and development after purchasing residential plots. On the other hand, high income groups usually invest in these plots and sell them off once prices increase to viable levels.

In comparison to share market investments, investing in these plots would actually be a good solution. These are upcoming prime locations and still offer residential plots at low prices. If you have a low budget and are looking to buy a residential plot, do not wait any further!