Rajarhat Real Estate Market Now Becomes Friendly for Middle-Class

The substantial growth of real estate industry across the world is noticeable and like any other developing countries, you can witness the rapid real estate establishment in India too. If you look at India’s metro cities, you will find that Kolkata’s suburban areas have witnessed a tremendous rate of growth in the real estate industry. Suburban areas like Rajarhat has transformed into top class residential and commercial area where one can avail flats ranging from 35 lakh to crores. It would definitely be a good idea if you want to buy flats in Rajarhat because the place has gone through a rapid development in the recent past. It's easy and short connectivity to the main city Kolkata, airport, metro railways, hospitals and renowned educational centers have made the area as one of a most preferred residential spot in the country.

High Class Properties in Affordable Price

A study conducted by a global real estate consultancy suggests that Kolkata has witnessed a price correction at -3% in the first half of fiscal 2015 compared to the first half of previous year. However, while assessing the reason of price correction, the global consultancy stated that now people can avail affordable housing projects in much lower price even in the peripheral of areas of Rajarhat, which is simply attributed to the price correction.

If you are searching for a property in Rajarhat area, then you must have seen advertisements declaring properties at Rs. 2,600-3,500 per square feet that means a respectable 1,200 square feet three BHK flat can easily come with the price tag of around 30-35 lakhs, which is far less than the price of properties in other metros.

Increasing Demand for Commercial Space

Along with residential properties like 2 BHK flats in Rajarhat, the demand for commercial spaces has also surged up in Rajarhat and top real estate developers consider the demand as all-time high since the beginning of real estate establishment in the area.

This can be good news for organizations that are seeking world-class office spaces in the eastern region of the country. However, the sprawling township in Rajarhat was conceptualized to offload the bursting pressure of central Kolkata and that is why top real estate developers rushed into the area to establish residential and commercial properties with high hopes.

Affordable Residential Properties for Middle Class

If you would talk about owning an apartment in Rajarhat 5-6 years ago then you would have to pay at least Rs. 5,000-7,000 for one square foot. However, today you can avail an apartment with the same facility with 20-30% cuts in the price.
Middle-class people, who are residing in suburban areas or far away from the city Kolkata, now can dream about owning apartments within a few kilometers from central Kolkata. Rapid development in real estate projects has reduced the price of both residential and commercial properties in the area that has encouraged thousands of middle-class people to buy flats in Rajarhat within an affordable price.

A report suggests that rapid infrastructure development in Rajarhat is responsible for the advent of affordable and mid-end commercial and residential projects.

About the Author:

Prasanta Chowdhury is a renowned businessperson who possesses immense knowledge and expertise in the field of real estate. Here, he writes how and why Rajarhat real estate market has become friendly for middle-class