A Sound Investment: The Rising Value of Ganga-Facing Flats in Kolkata
The scenic views and serene riverside location have made Ganga-facing apartments one of the most coveted addresses in Kolkata. Demand for flats overlooking the Hooghly river has surged over the past few years due to limited supply and rising aspiration levels, leading to steep year-on-year price appreciation. We take a closer look at why these exclusive flats make sound investment propositions despite the premium pricing.
Flats facing the Ganga offer unmatched views of Kolkata’s iconic Howrah Bridge and Vidyasagar Setu suspension bridge. Watching the sunset over the meandering Hooghly river with boats and ships sailing by presents picture-perfect postcard views that homebuyers find extremely appealing. Builder projects strategically position towers to maximise the number of units getting uninterrupted 180-degree panoramas, which allows them to command premium pricing. Based on searches on 99acres.com, 3 BHK flats in such projects are currently priced between Rs 2-3 crores depending on size, specifications and exact location.
The supply of river-facing apartments has remained low over the years despite growing demand. Only a handful of projects have access to the waterfront, with limited space to construct towers adjacent to the river bank. Once sold out, there is hardly any new inventory added in subsequent years. This puts Ganga-facing projects in an enviable position due to low competition. Homebuyers recognise that such exclusive addresses are a rare find, which incentivises buying decisions. This scarcity premium gets reflected in rising capital values over time.
The Hooghly River presents a unique lifestyle rarely found in other metros. Living alongside this natural environment is greatly valued by tenants and buyers alike. Occupancy rates and rental yields for Ganga-facing flats remain strong year-round. Corporate renters posted on short-term work assignments find the tranquil atmosphere conducive for families. New homebuyers frustrated by the lack of supply keep chasing any resale listings that become available. Strong rental and resale demand ensures steady appreciation for investors and end-users.
While the supply constraints limit new project launches, connectivity along the Eastern Metropolitan Bypass is set to improve drastically. The metro rail extension project will add three new stations on the Hooghly river bank, bringing Ganga-facing neighbourhoods within closer reach for more Kolkata residents. Travel time from BBD Bagh central business district to residential pockets in the north will come down from 90+ minutes to just over 30 minutes. This will expand the catchment area and enable higher rentals and valuations going forward.
Eco-friendly and sustainable building design is being given priority in new launches. IGBC-certified Gold and Platinum rated projects are implementing green construction techniques, solar power generation, water recycling and waste management. Homebuyers get to enjoy living amidst nature along with a smaller carbon footprint. Some upcoming projects have also integrated innovation like robotic car parking systems and home automation. With improving lifestyle offerings, demand and capital appreciation of green flats in Kolkata is likely to surge.
FAQs
What are the main reasons for rising prices of Ganga-facing flats?
The prime reasons are panoramic river views that buyers find attractive, low inventory levels and high entry barriers for new projects, strong rental yields and steady demand from occupiers, and improving connectivity.
What kind of price appreciation have such flats seen recently?
As per market estimates, there has been around 8-12% year-on-year price growth for Ganga-facing properties depending on exact micro-market dynamics. Stronger demand has led to faster appreciation.
Are there still projects available for buying such flats in Kolkata?
Yes, there are a handful of new and under-construction projects that are on the market. However, inventory is very limited and tends to sell out quickly once launched. Homebuyers need to track upcoming launches closely.
What kind of amenities are provided in these flats?
Most projects have a comprehensive suite of amenities like landscaped gardens, swimming pools, gymnasiums, sports courts, community halls, walking trails by the river, convenience shopping, multi-level security and property management. Technology innovations are also being incorporated.
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