Changing real estate trends in Kolkata

Summary

Want to buy a property in Kolkata? If yes, then do not waste time and take a final decision as soon as possible.

Body

For years, real estate in Kolkata progressed slowly. But over the past decade, starting early 2000, several real estate developers have come into the city seeking better investment opportunities guarantying huge returns. When we talk about real estate, we mean that it includes housing properties, lands as well as commercial properties. It is now that the property rates have started escalating in Kolkata, especially because in the last few years, real estate developers have done their best to bring revolutionary changes in the residential and commercial sectors.

The Emerging Trends in Kolkata’s Real Estate

Several private real estate developers have come into play in Kolkata and are bringing commercial developments like shopping malls, hospitals and offices. In residential sector, these developers are now constructing luxurious homes, bungalows and villas in the outskirts of the city. Since the prices are regulated by the government in Kolkata, therefore, property rates aren’t very high here, giving buyers the opportunity to try new trends.

Type of properties in Kolkata

Since the properties aren’t as expensive as the ones in other metropolis, therefore, you get an option to choose between residential houses or flats as per your requirement. A huge range of choices is available for keen buyers. Private builders take into account these things while developing their properties in form of simple residential colonies with mid rise apartments and facilities like parking ground, playgrounds, parks and clubs. The multi-storey apartments are available for possession as well as rental. Therefore, if you invest in the properties, you can rent them to students or employees who come to Kolkata for studying or working purposes. Along with this, several high rise apartments and residential societies have also been set up, which targets the upper middle class group, are more spacious and have more facilities like 24 hour water or electricity supply, gas pipeline, clubs and gymnasiums. Kolkata in itself is a very vibrant city, so no matter which kind of residential accommodation you choose; you are assured that you will live in cheerful and lively neighbourhood, which makes the city a great place for families. Sites like 99acres.com have good information about the different types of properties in Kolkata.

Upcoming plans

The city witnessed its first real estate boom in early 2000; hence it still gives you wide opportunities to invest. Not only the city is opening its doors to the real estate developers and investors, the builders are also taking their chances and trying to introduce newness into the city. The upcoming plans include expansion of the outskirts of the city and development of farms, villas and bungalows in the suburbs that would target the upper middle class as well as the high class families. At the same time, because of the presence of convenient Metro Services, the developers are eyeing to build residential colonies or small scale societies near the metro station that would not just reduce the travelling time of an everyday commuter but would also fetch higher returns to the developers. The commercial real estate is also developing side by side, with bigger names coming up with malls and shopping stores in different areas of the city. Such changes ensure that people are more drawn to the lucrative developments in real estate of Kolkata. According to the proposals, the city will soon witness a real estate hike in the coming years ensuring that investors, buyers and the government get profits.

Riya Dogra writes on behalf of 99acres.com, which is an online portal dedicated to provide all information about real estate industry. It includes every aspects of property search including buy/sell and rent for real estate in Kolkata and different locations.