Sonarpur Property Market in Demand

Falling under the South 24 Parganas district, Sonarpur is a suburb of south Kolkata. Read the following article to know more about the upcoming property market of Sonarpur

Known for its peaceful and calm environment, Sonarpur took time to develop and its infrastructure to come up. The area got a life when quality roads were constructed by the Local Government to connect the area with the adjoining localities and commercial areas. Gradually, as real estate development gathered steam, the area flourished. Now the township is home high-rise apartments and new constructions are coming up to cater to the demand for new residential properties. Property in Sonarpur is surely catching up with times.

The city of joy, Kolkata always presents a culturally rich milieu of sorts. The city has a feel and beat of its own that is incomparable to other cities. Each pocket of the city has a distinct feel and peculiar traits to it. So is the case with Sonarpur.

Property Prices:- The area is majorly a middle class hub with lots of options for a salaried home buyer and also for those who want to invest some money here. The area remains quintessentially a residential hub with schools, shops, hospitals and other social infrastructure easily available in ample number. One can find a semi furnished home here at affordable prices. Fully furnished apartments with modern facilities are also available in the locality. Options for different category of property buyer abound here. Property prices in Sonarpur currently range between Rs1900 per square feet to Rs 3100 per square feet (January to April 2013 figures). The prices vary according to the type of constructions and the facilities available within and around the apartment complex. The apartments in posh areas are also conveniently priced, and despite all the add-ons it seems to be fair deal if compare property prices from any other locality or city in Kolkata.

Mixed Areas:- Sonarpur is a real estate mixed bag. On one hand, it has segments catering to the middle income group, and on the other are the posh and well maintained colonies providing a wide range of property option for a buyer without compromising on the area chosen by the buyer. The property prices differ accordingly and even so, the type of constructions. The high rise buildings are not more than 18 stories high. Professionals, first time home buyers and young married couples prefer to buy flats in these high rises. These offer amenities and facilities like 24 hour power backup, regular water supply, parks, gyms, and swimming pools.

Price Trends:- The time is right to buy property in Sonarpur as the property rates are affordable. The real estate trend shows a slide for the last quarter and this may be the best time to invest in property here. The trends indicate a fall of 2 to 14 per cent over the last quarter (January to April 2012 figures). This decline in property prices is due to the market correction. However, in the last quarter of 2012 and by early 2013, prices have shot up and properties are yielding good results.

When the builders launched new projects here, they demanded unreasonable prices from the buyers which in turn made the buyer shy away from the market.

The spring is back in the realty market as the prices have come down to normal level and the buyers are investing money in Sonarpur.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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