In recent times, Kolkata which is better known as, the city of Joy has emerged as one of the top locations in the real estate market. Especially many potential buyers who are looking for luxury or mid affordable properties have keenly made fruitful investment in the property market of Kolkata. But, with major infrastructural developments, there is very less space left in the city due to which home buyers are now shifting their focus towards upcoming locations.
Buying a property in these locations is offering many benefits to the potential home buyers like cost advantage, good connectivity, spacious units, etc. due to which people are preferring to move in such locations. According to a realty expert, while selecting the location for purchasing a new home, connectivity and distance to high-density micro-markets, availability of infrastructure, especially social infrastructure like schools, hospitals, local markets, etc., are the most important factors that buyers keep in mind.
Upcoming property locations in Kolkata
As per a latest research by a real estate research firm, these are the upcoming locations for property buying in Kolkata:
- Barasat-Madhyamgram (along Jessore Road)
- Dunlop-Khardah (along BT Road)
- Baruipur (area adjacent to the Eastern Expressway)
- Thakurpukur-Joka (along Diamond Harbour Road)
- Rajarhat-New Town
All these locations are well planned, developed in terms of both physical and social infrastructure. The areas also boast good connectivity through suburban railways and numerous modes of public road transport facilities. Besides all these facilities, the ongoing metro railway project will further increase the overall connectivity of these locations with the main part of the city.
Advantages of buying property in these micro-markets
As these properties are located in the outskirts region of the city, so the land tracts here are available at much affordable prices due to which developers are focusing more on integrated amenities and facilities. The residential complexes are designed with modern architecture and international quality designs. Apart from these, property prices in these locations remain affordable. Thus attracting many first time home buyers to these suburban areas.
Let’s take a look at some of the major benefits:
- The first and the foremost factor which a property owner looks for is the infrastructural development where these areas are much better in terms of the existing areas. Facilities like malls, multiplexes, schools, colleges, hospitals; security, power back-up options, and drinking water supply are the plus points.
- Another important factor which plays a major role is connectivity. These locations in Kolkata are characterized by excellent connectivity and offer several modes of travel, including public transport facilities which in the past were lacking.
- These emerging locations of Kolkata allow home buyers to choose projects according to their lifestyle, including various apartment sizes and a number of in-house amenities.
Last but not the least, the affordable pricing of the residential units plays a major role in inviting many first time home buyers to these locations. Under the Pradhan Mantri Awas Yojana (PMAY), people of the middle-income group (MIG) can cash-in on the benefit of a maximum interest subsidy of Rs 2.67 lakhs on home loan schemes facilitating more advantages.