The city of joy has emerged as one of the biggest real estate markets in eastern India. The property values are rising faster than ever as the city witnesses innumerable housing projects catering to the needs of different sections of civilians. There is something for everyone in Kolkata.Â
The extensive growth and demand for real estate can be attributed to the city’s intense modernisation, leading to immigration. Social factors like a reliable community system and good connectivity also contribute to this development.Â
Kolkata ranks higher than hot real estate markets like Mumbai, Noida and Gurgaon in terms of growth. Let’s look at the current trends in property valuation in different areas of Kolkata.
New TownÂ
2 BHK flats in the Newtown area starts from 70 lacs. These flats are equipped with modern facilities and are quite spacious with around 800 square feet of space. Bigger flats of around 900 to 1500 square feet, having more than 3 bedrooms, can cost more than 1.3 crores.Â
Budget options are available at as low as 65 lacs, but you have to compromise on luxury and amenities. The price per square feet can range from Rs. 1111toRs. 23,148.
Ballygunge
Ballygungeis, a posh area with lots of facilities in the vicinity of the city and is inhabited by upper-class families. The premium and luxurious apartments with 4 bedrooms can cost you 6.5 crore to 7.5 crore rupees.
This may seem like a lot for some, but due to the high demand and growth rate of the area, it can be a clever investment. The average price per square feet is Rs. 10,298 and can range from Rs. 2333 to 26562.
Salt Lake City
Appealing to the younger people, Salt Lake City is arguably one of the most modern parts of Kolkata with IT culture and modern infrastructures. Many eminent MNCs offices are located in Salt Lake City, which propels many people to live in this locality. 3 BHK flats may cost you about Rs. 90 lacs here. You can get flats in the range of Rs. 492/sqft to 42,751/sqft.
Phool Bagan and Beliaghata
These are the most sought after places in North Kolkata and have witnessed a growing real estate market. Several hubs and businesses have established in this area, making it popular among IT professionals and NRIs. Luxurious 4 BHK flats cost about Rs. 1.8 to 1.9 crores. The average price for 1 square foot is Rs. 4,567, and prices range from Rs. 2054/sqft to 9373/sqft.
Alipore
Alipore is the abode of the high-class residents in Kolkata with an extremely good location, surrounded by many beautiful destinations. 4 BHK in Aliporecan cost Rs. 2.2 to 2.5 crores. The average price of 1 square foot is about Rs. 9976. It may range from Rs. 1935/sqft to 23,333/sqft.
Conclusion
Choosing a property can be a difficult task. After knowing about the property valuation around the different parts of Kolkata, you will be able to choose a property according to your budget and convenience. Buying a property in Kolkata is a good investment choice in 2021, as trends show magnificent growth in the upcoming years. For top residential as well as non-residential developments in Kolkata, you can visit https://srijanrealty.com/ for further information.
