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Kolkata has an affordable property market. So you have a huge potential for real estate investment in Kolkata. Kolkata city is witnessing consistent demand in real estate investment. There are many reasons behind it. It's mainly due to commercial growth. In addition, Kolkata is also witnessing great industrial growth. Kolkata is an affordable city, unlike any other metro city.
It has an easy reach of investors and home buyers. The average value of the property lies between RS 3000 to RS 15000 per square foot. Another factor that encourages investors to invest in real estate is reality development. People have easy access to traveling and infrastructure facilities. Kolkata also offers smooth connectivity throughout the city and major parts of India. Therefore the Kolkata real estate market is facing a huge demand for commercial investments and residential investments.
And this case is not only true for Indians. Non-resident Indians or NRI are also investing in Kolkata real estate. However, it's best to pen down the best areas of investment in Kolkata. And we are offering just that! Read the given article to look for the top areas in Kolkata to invest in. Also, we will mention the top 10 localities to invest in Kolkata. Let's dive into it!
Commercial Vs residential: What should you choose?
Well, choosing between commercial and residential property is a difficult decision. However, the final answer depends on your financial goal.
If you want to generate a high going in the long term then commercial property investment is the perfect opportunity for you. It's also better for you if you don't have a problem expanding your budget. The rents are higher and the lease is long-term. Therefore commercial property gives a stable investment. Also, you do not have to deal with many talents.
However, if there is a constraint on the budget then the real estate investment in residential property is better. You can quickly sell residential property and even rent it. The maintenance of the residential property is much easier. Commercial property also gives higher returns. However residential properties on a small scale have easy management.
So you should keep all the factors in mind. These factors are maintenance, connectivity, operating cost, rent, budget, and availability of tenants. Additionally, it also depends on the current market condition.
Current Real Estate Market in India
The current real estate market in India is the most dynamic. The real estate market and investment in India are growing faster than in the world. However, India has witnessed more growth in a few years. But 2022 and 2023 bring out the best results. The current real estate market in India has faced and past several challenges.
Every industry and sector is flourishing in India. India is also blooming as an economic superpower. The current real estate market in India is resulting in more employment opportunities. Additionally, the real estate investment market is consistently witnessing phenomenal growth. India has one of the superior real estate markets in the world.
Top RealEstate Investment in Kolkata by 2023
If you are confused about deciding allocation for investment in Kolkata, we have the perfect solution. Here are the top 10 localities to invest in Kolkata. It will help you to narrow down your list. Also, you can compare different localities with each other.
● New Town
New Town is a suburban locality in Kolkata. It is ideal for residential and commercial construction. People invest in 2 BHK and 3 BHK apartments here. It is also known as the solar city. New Town has many commercial buildings and parks. For example, Synthesis Business Park and TCS Gitanjali Park. It is an excellent place to start investing in Kolkata. The city is also conducting the Smart City project. The locality is near the EM Bypass as well as the VIP road. It makes connectivity and traveling easier. This locality also has the best educational institutes and hospitals.
● Joka
It is one of the most developing neighborhoods in Kolkata. Here investors get all the facilities of contemporary living. This locality has improved connectivity infrastructure and development. It is one of the best options for investment for many investors.It has some of the best educational institutes. These are the children's academy and Techno India group. Also, the location has popular shopping centers, transportation, and hospitals.
● International Airport Area
This locality is near the airport. It is located at a distance of 15 km from the city center. It is located near the Salt Lake sector V. That's the popular commercial center of the international airport area. It's a good choice for investors to get affordable real estate investments. It has easy connectivity through metro bus and train. In addition, it is a popular location for job opportunities.
● Rajarhat
This locality is also witnessing more development in real estate in Kolkata. It is a popular location for investors looking for affordable investing. This neighborhood has a well-developed infrastructure. It includes schools and hospitals. There are many communication and transportation facilities. The investment demand is significantly growing in this area. It also has proximity to south Kolkata and Salt Lake.
● South Bypass Stretch
It is a great location for investment in Kolkata. The connectivity becomes easier through metro stations. It is a less populated area with good medical services. It is a recent location with investor attraction. There are many affordable houses and developments in this area. It has all the necessary educational institutes hospitals, transportation, and a shopping center.
● EM Bypass
This location is popular because of Highway connectivity. It offers easy connectivity through North and South Kolkata. It provides a link to Salt Lake City and the new town. This location is increasing social infrastructure and municipal amenities. There are significant educational institutions and hospitals in this area.
● Bhela
It is a good location for real estate investment in Kolkata. This area has a versatile bus network that connects important locations. It also has Netaji Subhash Chandra Bose International Airport located at a distance of just 28 km. The location is also a proximity to the office. That's why it's attracting working professionals. Additionally, it has all basic amenities such as shopping centers, transportation, hospitals, and educational institutes.
● Tollygunge
It is one of the most popular tourist locations in Kolkata. It is home to the Bengal film industry. Kolkata Municipal Corporation has jurisdiction over this location. It is a posh area! It has every type of public transportation. This location is a good start if you are not sure of any other location. It has many real estate projects of independent housing. The popular localities here include Netaji Nagar, Bansdroni, Golf Green, and Kudghat. It is also home to educational institutes such as the NSHM knowledge campus. Dislocation also has the most effective hospitals such as RSV Hospital. Additionally, it also has a popular South City Mall as a shopping center.
● Naktala
This is one of the most popular suburban localities in Kolkata. It has a popular railway station in Kolkata city. People invest here due to rising commercial and residential areas. It has easy connectivity with other parts of Kolkata. It is also increasing job opportunities. There are many well-known hospitals and schools in this area. This neighborhood is safe and friendly for someone who wants to invest in Kolkata. It also has a well-maintained road educational institute, hospital, transportation, shopping center, and social amenities.
● Garia
It is the best unit to live in Kolkata. It has easy transportation through public methods and metro service. Other transportation ways include buses, railways, and metro. The locality is also developing more flats for sale in Kolkata. It has many popular educational institutes. Also, it has significant hospitals such as Saint Teresa Kolkata Memorial TB Hospital. There are many shopping centers such as Metropolis Mall
Conclusion
Kolkata has a strong market for real estate investment. The demands for house for sale in Kolkata and rental properties are increasing in Kolkata. So if you are looking for a good location for investing you might start from any location given above.
People are also investing in Kolkata to increase rental income from their investments. Kolkata is developing financially and socially. So 2023 is the right time to invest in real estate in Kolkata. The cost of living in Kolkata is also affordable.
FAQ
Q. Is buying an apartment the best real estate investment in Kolkata?
Buying an apartment is the best real estate investment in Kolkata. In addition, it is the perfect time to invest in real estate property. That's because Kolkata is growing both commercially and financially. Also, investing in an apartment is the best real estate investment because it generates more employment. Many localities in Kolkata are turning to smart cities. The Government of Kolkata is also working and developing the connectivity and infrastructure throughout the city.
Q. Should I buy or rent in Kolkata IN 2023?
Buying or renting a property in Kolkata in 2023 is the perfect opportunity. Investments are very affordable this year for real estate investment in Kolkata. Kolkata city offers social amenities and easy connectivity throughout India. The prices will rise in the coming years for the investors. So you should rent or buy a property in Kolkata in 2023.
Q. Is real estate investment in Kolkata an excellent opportunity?
Kolkata is a city of high standards. Some people also call Kolkata the city of joy. Kolkata is growing in industry and information technology. Many multinational corporations are introduced in Kolkata. It also has top localities and blooming job opportunities. You might think that Kolkata is an expensive city.
Well, you are wrong! Kolkata provides investment with high standards of living and connectivity at affordable prices. One of the best advantages of properties in Kolkata is that they are valued much lower than any other metro city in India. So real estate investment in Kolkata is an excellent opportunity.
Q. Is 2023 a wise time to purchase a rental property?
Yes, 2023 is a wise time to purchase a rental property. The time has never been better than this year! India is witnessing more investments in real estate projects. Therefore, the investments in Kolkata for real estate are also increasing. It is the result of industrial growth and commercial growth. Kolkata is also growing as an information technology hub. The city is also developing more public transport.
Travelers are also investing in real estate in Kolkata. People expect Kolkata real estate as rapidly growing. It is the best time to purchase or rent property in Kolkata. The current rates are very affordable. If you wait any longer the price are expected to go up significantly. Also, real estate in Kolkata is expected to be limited in the coming years. Therefore 2023 is a wise time for investing in a rental property.
About Author
Jatin Dubey
An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.
An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.
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