Investment Opportunities In Real Estate In Kolkata

The real estate sector is booming in Kolkata, like other cities like Noida, Gurgaon and Bangalore. The boundaries of Kolkata are expanding and as more land is being brought into the tenets of the city, more is the number of residential projects going up. Rajarhat, Barasat, Madhyamgram, Garia and Sonarpur are some of the areas being targeted by construction companies for residential complexes.

These residential complexes are completely safe and provide every possible amenity to residents. The complexes are provided proper gates to keep the complex safe from intruders and security guards are posted at every entrance of the residential community. Generators have been installed to provide uninterrupted power to residents and fire alarms have been installed in corridors. Some residential communities also have CCTV cameras installed in the corridors to monitor visitors to the complex.

The residential communities have a lot of open spaces which residents can utilize for staying healthy and spending time with their families. Community halls are built so that residents can organize events and ceremonies there. Also, for fitness and recreation, gymnasiums and swimming pools are built. Some residential communities also have swings and slides so that children can play there.

These residential communities are usually developed in the form of 2BHK and 3BHK. The flats range between 700 sq. ft. and 1000sq ft. for 2BHKs and 1000 sq. ft. to 1500 sq. ft. for 3BHKs. When the complexes start developing, per square feet price is very low, around Rs 1500-2000. However, as the complex develops and word spreads about the amenities, per square feet cost starts rising. Somewhere near the time of completion, per square feet prices become around Rs 3000-Rs 3500. This attracts investors as the return is almost 100%.

Kolkata Real Estate

Purchase of real estate in these areas is not only for the purpose of investment, but it is also for the purpose of living. Many people, who work in the IT sector in Salt Lake and Rajarhat, buy apartments in these areas because it is close to work.

The only problem with these areas is that connectivity to the rest of the city is not very well developed. However, this barely stands to be an issue because everything that a person needs to stay comfortably is made available in these areas- banks, schools, hospitals, areas of entertainment etc. There are a couple of malls in the areas that residents can visit to buy items that they need every day, watch movies at, eat out at etc. Good schools have also come up in the area. However, it would be better for residents to own a car because it would be difficult for one to travel to the heart of the city as public transport is quite infrequent. Parking spaces are available within the residential communities and each apartment is allotted parking space for one car.

If you want to buy an apartment in Kolkata, then you can look up real estate classifieds online. You can add a location filter and find advertisements of real estate that are suitable for you.

Things To Look For When Buying A Flat

There are many things that we desire when we think of purchasing our own dream home. Homes are hard to build these days due to lack of ample space for buying plots. This is a common scenario in almost all major metro cities in India. Thus, the option remains restricted to buying a quality flat for yourself. Now buying a flat is not just a trivial decision. You have to ensure that all your needs are met before you plonk down your money instantly. Buying the wrong flat can have repercussions for life. How do you choose a flat to your liking? This is all the more important if you are not buying a new flat.

If you are buying a flat as the second or third owner, you have to keep certain things in mind. These can be summed up below:

• Location of the flat
• Close to bus stations, metro stations and other public transport hubs
• Proximity to shopping centers
• Availability of all basic amenities
• Access to clean drinking water
• Proper electrical wiring
• Access to generators and other building amenities
• Space for car parking in case you desire the same
• Proper registration and all other completed formalities
• A common terrace
• Common area for get-togethers if this is important to you 
• Proper space distribution and allocation of rooms
• Quality of wall paint
• Proper placement of pillars
• Proper bathroom construction
• Proper kitchen construction
• Proximity to your place of work, child’s school and so on

These are some of the factors that you should always keep in mind before buying a flat. There are various duplex apartments in Hyderabad and other flats on sale via online classifieds. You can check out online real estate classifieds for more information in this regard. You will find various online listings or advertisements delineating flats for sale in your desired location in Hyderabad or any other city of your choice. You can find flats in your desired area or neighborhood with online classifieds.

Make proper use of the multiple real estate options available for your consideration. You can reply to advertisements directly stating your own requirements and acceptance. You can also post your own advertisement which contains details of your requirements and your ideal price. If you can contact the developer or seller directly, you can negotiate your price further and bring it down to a more desired level. Alongside, posting an advertisement yourself will generate loads of results in very little time. You can choose to reply to advertisements in super quick time. You do not have to be at the mercy of brokers or other agents who charge inflated prices for their services. All you need is a little time at your disposal and a willingness to search for and ferret out the best possible flat for yourself. Log on to online classifieds for real estate in Hyderabad and pick out the best possible option for yourself!

Buying An Apartment in Kolkata For Investment

Compared to other metropolises, the cost of an apartment is not that high. However, with an expansion in the housing facilities and growth in job opportunities, real estate prices are fast catching up with those of other cities. Areas such as Rajarhat, Madhyamgram, and Barrackpore etc. have new residential communities that are being developed. These residential communities have a lot of open spaces in them along with community halls, swimming pools, gymnasium etc. The apartments are made aesthetically and they are made in consultation with Vaastu tenets.

Most people in Kolkata are buying apartments not just for living but also as investment purposes. NRIs are buying apartments in New Town-Rajarhat at a very low cost and then selling them off when the price is rising. For example, they are booking apartments when per square feet cost of the apartment is around Rs 1600 or so. When the price is rising to Rs 3000 per sq. ft. the owners are selling off the apartment to earn a profit. With an improvement in infrastructure such as roads, water and electricity supply, the cost of apartments are also rising. Moreover, Rajarhat is set to be the new industrial area in Kolkata. The IT and BFSI sector is entirely located here and India’s second financial hub has come up here. Due to proximity to offices, the cost of apartments is rising.

If you want to buy an apartment in Kolkata for the purpose of investment, then you should consider the location and facilities on offer. Buy an apartment which is right next to a main road so that transportation from the apartment is not an issue. Make sure that the apartment is well equipped with electricity and water supply. You should also check the construction and floor plan of the apartment before buying it. There is no point in buying an apartment with a shoddy floor plan and facilities because you will neither be able to live in it not sell it off to someone else. Be in touch with the builder at all times to communicate the ideas that you have for your apartment.

Most areas in Kolkata have been proposed to be connected by the Kolkata Metro. It would be advisable to buy an apartment near a proposed metro station as this will fetch you a lot of money. If you do not want to buy house flats for sale in Kolkata Rajarhat, then you can look for other options in Sonarpur, Narendrapur, and Maheshtala etc. These places are also seeing construction of high rises in the form of residential communities. The cost of apartments at these residential communities is much higher compared to apartments in stand also buildings. However, these apartments offer residents with a lot of facilities. Some even have departmental stores built into the complexes. Hence, you will not have to go out of your apartment on any pretext.

You can find the best apartment for yourself by browsing through websites dedicated to online classifieds for apartments for sale ads in Kolkata. You can add a location filter to find the best apartments for you.

Why Should You Buy Pre-Owned Apartments?

Every day people are moving from one house to another- it may be for job transfer to another city or state or country or may be for want of larger space. Newer houses are coming up every day in novel styles. Most apartment complexes are nowadays being built along the model of communities and residences. A security check post is placed at the entrance, a concierge desk at the entrance of a building, multiple stories and lots of indoor space for residents to relax in the evening.

The apartments being developed in this style are quite expensive and unaffordable to most people. Builders include the cost of landscaping, installing elevators and burglar alarms and other amenities that would make the lives of residents simpler. The cost of buying an apartment is exorbitant. The cost of property is rising every day. This is mainly due an increase in the demand for housing options along with its attractiveness as an investment opportunity.

Pre-owned apartments are a better option to go for. Pre-owned apartments do not cost as much as old apartments. Even if it is within a residential community, the sellers of such apartments usually do not charge you for the amenities provided.

If you look carefully, then you will see that you can get leads of pre-owned apartments in older and better connected parts of the town. The residential complexes are sprawling in space which is not readily available within a city. Hence, builders take up projects towards the outskirts that are developing fast in terms of connectivity and job opportunities. If you want to live within the city boundaries, then it would be better to look for a pre-owned apartment.

Like with buying a house, you should make thorough enquiries into the condition of the apartment, the repair works that need to be done on the house and the pending taxes. Only after clearing all these information, should you go ahead with your purchase of a house.

If you are looking for the purpose of investment, even then an old apartment would be a good buy. Property prices of older and posh areas are rising faster than the outskirts. Many people are touting the increase in the number of housing projects like a bubble that will burst any moment when the fascination of investors would be curtailed.

You should choose to take a house only when you feel it is right for your family. Buying a house is a big investment and it needs to be undertaken with utmost care.

You can find classifieds dedicated to BHK flats for sale in Mumbai if you log into such websites. The website has got property listing from various localities for selling and buying flats, renting them or leasing them out. You can find the best apartments for sale ads Mumbai by going through the list presented to you. You can also filter your search by applying the location filter facility available on the website.

Why Invest in Property in Kolkata?

Property today is considered to be the second best investment after gold. With investment options suited for all sorts of income groups property seems like a very lucrative investment. Kolkata has a number of residential as well as commercial projects coming up in the next few years which is predicted to create a significant impact in the real estate industry. While some people buy property as an investment with the intention of selling it off or renting it out, some others also buy it to live in the area in the future. Real estate is in a dynamic state in Kolkata and the next few years are said to be the best time for investments.

NRI Investments: Rajarhat in Kolkata has become the hotspot for investments made by NRIs. There are numerous luxury apartment projects coming up that include high rises, villas and bungalows and most of these include investments made by NRIs. Most of these families have a future plan of either returning to the country or look upon it as an extra source of income by renting their property out. Prices in Rajarhat is rational, the location is very convenient and ideal considering its proximity to the airport, hotels, education institutions and the IT hub – Sector V Salt Lake. The ambience and atmosphere along with added facilities of clubs and other amenities along within the residential premises makes it a lucrative choice for most NRIs who generally look for serenity and peaceful places to hang out.

Affordability of Property in Kolkata: Property for sale Kolkata comes at affordable prices in spite of being one of the major metropolitan cities. As compared to the other cities, Kolkata offers budget friendly housing catering to the needs of the low income groups starting from as low as 8lakhs as well as luxury residential projects for NRIs and high income group investors. As a result, Kolkata can be analysed as more of a mixed bag of investors accommodating all categories and classes of people. The availability of home loans taking into consideration families from the service class makes investments from all income groups viable. There are even tax benefits of about 1.5lakh per head per annum for those coming from the service classes.

Eden Tolly Signature - Kolkata, West Bengal

Other locations for investment: Upcoming townships and projects around Behala, Garia and EM Bypass are equally in demand after Rajarhat. Areas around Garia have seen rapid expansion of real estate in the past 2-3 years and are yet to see more in the coming years. Southern Kolkata having good connectivity in terms of public transport is a viable option and taking into consideration social amenities, it is considered to be perfectly suited for middle income group families, whether it is for residential purposes or investment alone.

Online sources: Look for land for sale in Kolkata and upcoming residential projects in the city. Classifieds based websites offer a wide range of ads and online solutions, a great option for all buyers and sellers to meet and interact virtually.