Kolkata, the capital city of West Bengal is known to be a prominent affordable housing market due to the ongoing and proposed development projects. The better living conditions and easy connectivity to almost every corner attract the investors here and thus the demand for rental housing is constantly on a high.
The properties in Kolkata at affordable prices laid the emergence of new residential localities close to the main city. Other reasons that make property investment in Kolkata a wise decision is smooth connectivity, urban infrastructure, fast-paced development and steady property and rental prices. The demand for affordable properties in Kolkata is mainly raised by the NRI [Non-Resident Indians] and those residing in the nearby cities.
Top Localities in Kolkata for Property Investment:
New Town is announced as a Solar city and thus it is planned to be developed as a smart city. The locality has a mix of both residential and commercial as the two major roads that are EM Bypass and VIP Road connect this area with the Kolkata city. The residential apartment in New Town, Kolkata ranges between Rs. 4,548 – 5,400 sqft and monthly rental for 2 BHk fall between Rs. 10,622 – 13,277. Apart from residential properties, New Town Kolkata also has state-of-the-art commercial properties, business parks, clubs, and the offices of companies like DLF and Tata. Smooth commutation is not a problem here because of the present public transport and the proposed metro line from Airport to New Garia.
EM ByPass is a residential locality in Kolkata and is near to the Central Business District [CBD]. The proximity to the workplace makes the professionals prefer EM Bypass for living. The area has approximately 10 roads to ensure smooth connectivity to major locations of Kolkata city such as Salt Lake, Gariahat, Maniktala, and Lake Gardens. The presence of retail malls, shopping complexes, schools, and healthcare institutes with a strong infrastructure makes EM Bypass is one of the best localities in Kolkata for property investment.
Behala is another top locality in Kolkata to make property investment. Situated in the southwest of the State capital, there is a wide range of residential and commercial properties in Behala, Kolkata. The locality is close to Netaji Subhas Chandra Bose International Airport and shares proximity to the commercial hub of sector 5. The smooth transport facility connects this locality with areas like Park Street, Bidhannagar, Howrah, and Sealdah via road. The average capital ranges between Rs. 3,400 and 4,100 per sqft.
Dum Dum is a top locality for property investment in Kolkata. The area is situated approximately 10 kms from the city centre and is close to the International airport and various commercial hubs in the city. There are more than 100 residential projects in Dum Dum and 89 percent of them are ready-to-move-in. Being, the oldest locality of Kolkata, Dum Dum has a well-developed infrastructure that offers smooth connectivity to various areas. This locality has quick connectivity with the areas like Chatakal, Jawpur, Rajbari, and Nager Bazar. Thus, Dum Dum is the best locality to buy affordable properties in Kolkata. The average capital value in Dum Dum park falls between Rs. 3,400 and Rs.4,300 per sqft and Dum Dum Cantt has average unit value between Rs.2,700 and Rs.3,200 per sqft.