Why Kolkata’s Population Is Moving Towards The Suburbs

Kolkata is facing a unique real estate situation of sorts. There are loads of apartment complexes and other residential units coming up in the city. These include condominiums, mass housing enclaves, apartment blocks and gated communities and even luxury villas and exclusive housing projects. The sheer diversity of projects on offer promises much to prospective customers of these projects. However, in what is a natural occurrence, people in Kolkata are moving away towards the suburbs and outskirts of the city. This is a natural trend that is being witnessed all across the city especially on the northern and southern fringes.

More and more people are shifting to the suburbs and outer areas as the main city gets more and more congested, clogged and chaotic. Kolkata as a city was always unplanned and this did have to end in total chaos at some point of time. As a result, the mass exodus of property buyers from the heart of the city to its external fringes is being majorly witnessed as mentioned earlier. Why this exodus? Average citizens from all walks of life are considering moving away to homes in the suburbs and locations connected to Kolkata by the train, bus and road networks.

The city has expanded rapidly and its boundaries and frontiers have always been in a state of flux and constant evolution. The main city has become overtly congested, what with the narrow roads, lack of proper parking space, huge traffic levels and other woes. The city gets worse in the rainy season as well with high levels of water accumulation. Alongside, there is almost no space left to build a house in major areas of the city. This is not a problem if you venture into the outskirts or suburbs. Venturing into the suburbs is now a common activity even for those who have to commute to workplaces and offices in the central business hubs of the city.

This aspect proved to be a deterrent for many individuals and professionals earlier. As a result, many people did not quite like to venture into the outskirts or suburbs owing to these reasons. However, connectivity options have been greatly enhanced in today’s times. All major suburban areas and outskirts now have thriving transport networks, auto rickshaw routes, bus routes, governmental buses and of course, a solid train network. In some places, metro railway stations are not too far away as well. This makes it easier for people to commute to faraway areas and business centers in the heart of the city without any problems.

Alongside, suburban areas have witnessed skyrocketing development in recent times. There are many suburbs that have been transformed into major residential hubs these days. The demand for property in these suburban locations is very high because of prices that are still affordable and viable. Alongside, people are moving to the suburbs in large numbers in order to avoid congestion, pollution, traffic related problems and shortage of space. This makes certain areas very hot destinations currently in the Indian property market.

The Indian property market is very saturated now and the same situation has been prevalent in Kolkata as well. Prices have stabilized in areas at the heart of the city and other premier locations. As a result, many people are finding it unaffordable to buy these properties. They have no choice but to look for affordable housing options. These are only available in suburban areas and of course, the outer fringes of the city. There are some areas like Budge Budge, Maheshtala, Garia, Boral, Kamalgazi, Sonarpur, Rajpur, Baruipur and parts of the EM Bypass which have been witnessing rapid development owing to a sharp influx of customers into the area. Developers and real estate companies are also leaving no stone unturned to draw more and more customers to areas on the outskirts of the city. There are multiple projects being undertaken by top notch developers in these locations. These include entry and mid range projects which are priced within the INR 20 lakhs to INR 40 lakhs mark and also a few premium housing projects which cater to upper tier customers.

Areas like Sonarpur and Baruipur have developed beyond recognition. These areas have top notch transport networks and other amenities. Alongside, the EM Bypass has developed beyond belief. Multiple big ticket projects are coming up on various parts of the EM Bypass. Areas like the Jadavpur Connector and Kasba which are in close proximity to the actual Bypass, have now transformed into mini townships of sorts with top notch properties being sold, easy access to major amenities and other benefits. Alongside, these areas have also witnessed mushrooming hospitality endeavors, projects and other places of leisure and recreation. This is very much the trend in most areas on the outskirts.

Additional infrastructure usually comes hand in hand with big ticket real estate projects and properties and this has been witnessed all throughout the city. Areas like Garia and Boral are also developing rapidly owing to availability of flats in the same range of INR 20 lakhs to INR 40 lakhs as mentioned above. Prices are slightly more when it comes to the EM Bypass and areas like Maheshtala and Budge Budget still have properties priced at much lower rates. Additionally, one can still find viable plots of land in these areas and locations. This is one of the biggest advantages for investors looking to build their house. Building a house of one’s own is otherwise impossible in Kolkata.

Behala too, is another area which is witnessing the launch of multiple big ticket projects in recent times. This is another area where developmental winds are holding sway in full force. Behala still offers multiple affordable options to end users and investors especially in areas like Chowrasta, Thakurpur and even close to Joka. The mass exodus to the suburbs and outer fringes of the city is slated to continue even in the near future and developers are extending their reach to areas which are outside the main city in the bargain. 

Buying Property In Kolkata Within INR 30 lakhs!

Kolkata is one city which has never quite ceased to develop and grow at a rapid pace. This is especially true for the real estate market present in the city. Kolkata’s real estate market has grown in leaps and bounds over the last few years. Alongside, demand has been fueled by NRI investments, growing infrastructure and amenities in particular areas, thereby increasing prices for particular areas. Prices have risen to unfathomable levels in Kolkata. Experts estimate the rise percentage at 60% which is enviable if you take other metro cities into consideration. Alongside, affordable housing in Kolkata is something that is restricted to some particular areas. Kolkata has witnessed massive development and growth over the years. Are you looking for a home in Kolkata within the INR 30 lakhs bracket? This is considered to be quite tough taking present circumstances into consideration.

Kolkata is witnessing a stabilization of real estate prices and demand surprisingly continues to be quite high with regard to the premium and luxury housing segment. Alongside, demand is quite restricted in particular areas owing to the unaffordability of housing projects. Developers are left with unsold inventory in some areas while some areas have witnessed price surges owing to limited supply and high aspirations of a growing breed of high net worth individuals. This leaves the mass with fewer options apart from affordable housing projects situated in suburban areas.

As a result, finding homes within a particular price point in Kolkata continues to be a problem as mentioned above. Thus, finding a home within the INR 30 lakh bracket can be a headache if you do not know where to look. Yet, there are some areas where you can actually find such properties. Is this even possible? Belghoria is one such area where you can find homes within this budget range. There are a plethora of residential properties available in these areas and many more are slated to be available in the future as well. Right near the Belghoria Expressway, there are multiple properties that are both accessible and affordable. The budget range mentioned, will offer you many options as well.

There are multiple residential complexes that are being built in this area in large numbers. There are various amenities on offer as well including security systems, car parking and community centers which promise to enliven the overall experience on offer. Many of these structures are already ready for possession and many other projects will be offering possession to customers later in 2014 itself. Belghoria can be a good option for you within this budget owing to all these facilities and seamless connectivity options. Public transportation facilities are immense with close proximity to the Sealdah railway station which is a major hub of Kolkata. Alongside, this railway station connects residents to other areas of the city. Residents can enjoy this convenience within an affordable price point.

Alongside, INR 2716 per square foot was the average capital value of properties in this area going by the figures of the last quarter. End users can also put up investments in this area even though the scope of price appreciations is quite low. This is mainly owing to the stagnant developmental activities of the surrounding or adjoining areas. This is what keeps prices low and they will not be rising in the near future as well. Connectivity is a major plus point of the area, as mentioned. This should be an attractive option for investors as a result. Another locality which is very well connected is Bablatala. This locality has metro railway connectivity, medical facilities and educational and retail options within a 2.5 kilometer radius. The proximity to the Kolkata airport is another huge advantage for home buyers who need to fly frequently.

There are multiple projects being carried out in this area courtesy small scale builders who are available in large numbers. Possession activities will be taking place later in 2014 or even in early 2015 as well. According to available data and other statistics, properties had an average value of INR 2933 per square foot in the period between October and December 2013. Alongside, these prices witnessed an appreciation of close to seven percent in that very quarter itself. According to a business partner at Pillars Consultants, Manoj Jaiswal, home buyers like this area owing to the high developments and the proximity to main roads.

Easy availability of city buses ensures greater connectivity to prominent office locations. Conveyance can be availed at almost any time and proximity to the airport is another major factor in its favor. These aspects have heightened the appeal of this hitherto unsung area for real estate development. Rajpur Market is another area which has plenty of options as far as ready to move and under construction properties are concerned. The area has social, civic and other infrastructure within a distance of four kilometers. Area accessibility has been heightened through the Eastern Metropolitan Bypass. Public transport is frequently available and there are premium projects from Mayfair Developers which are already ready for possession.

Some of these projects are still in the development phase and possession will be handed over in the early part of 2015. These projects come with all necessary amenities which include water facilities, swimming pool areas and seamless car parking as well. Alongside, the average property prices tend to be in the range of INR 2552 per square foot in this area. Maheshtala is another area which is dominated by mid and small level builders. Eden City is a landmark project in this area and possession is already being given to buyers.

Surrounding infrastructural development has kicked off and should be majorly boosted by the BBT Flyover which will connect the area to Taratala and other southern areas. There are markets available nearby for residents in this area along with all other standard necessities. INR 2785 per square foot was the average price of property witnessed in this area. Kolkata offers multiple places to purchase property within a budget of INR 30 lakhs. Make the most of it now before prices rise any further!