Kolkata, the city of joy is having several emerging residential hotspot and the Eastern Metropolitan Bypass is one amongst them. So, if you are a real estate investor then go through this blog post as here we let you know everything about the Eastern Metropolitan Bypass in Kolkata.
1. Understand Eastern Metropolitan Bypass
This is a 29-km long route designed to curb the perennial traffic on the Gariahat Road and this stretch connects Bidhannagar in north-east to Rajpur Sonarpur in the south-east Kolkata. The proposed and ongoing commercial and infrastructural development alongside this Bypass has made the developers turn heads here and set up various residential townships that will offer a world-class living experience. This entire area also has various reputed educational institutes, health care centers, entertainment options, and shopping arcades.
2. Real Estate Growth
The Eastern Metropolitan Bypass passes from Maniktala, Park Circus Area, Gariahat, Selimpur, Lake Garden, Garia and Jadavpur and has multiple options including luxurious villas to residential apartments. The industry experts feel that close proximity with Sector V, Salt Lake that has offices of several IT companies has boosted the demand for housing projects here. The migrant professionals look for accommodation in this area and the nearby markets like Garia, Bansdroni, Naktala, New Garia and Patuli create room for property investments with affordable unit prices and average rentals.
3. Property Cost Projection
The average capital cost along the Eastern Bypass is accumulated from North to South as the maximum of premium residential projects are situated in the North. Whereas in the South, there is an array of affordable housing units with an average property price between Rs. 5,908 sqft – 7,735/sqft.
The rental values for 2BHk in the east of Eastern Bypass fall between Rs. 15,300 – 18,360. Similarly, the rental cost of 2BHk and 3BHk in the south of this Bypass ranges in Rs. 16,942 – 20,023 and Rs. 30,713 respectively.
4. Infrastructural Projects
These include a 29-Kms long metro project that will ply between Garia and Netaji Subhash Chandra Bose International Airport via EM Bypass, Salt Lake and Rajarhat.
The second is Bus Rapid Transit System [BRTS] planned to be developed by the Kolkata Municipal Corporation. This 15.5Kms long route will ply from EM Bypass to Garia. This metro route has stations like Ultadanga, Salt Lake and Patuli Township.
The continuous and rapid development of social infrastructure, commercial and residential projects here has increased the percentage of returns on investment. Thus, investing money here is a wise decision as this is going to be one of Kolkata’s major localities in the coming time.