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Real Estate in Kolkata

Kolkata, one of India's most populated and industrialised cities, is located on the Hooghly River's east bank. The title "City of Joy" refers to the city’s soulful embodiment of culture, mysticism, devotion, and unquestionably, some incredible sweet delicacies. Kolkata is a metropolis that maintains a flawless contrast between the old and the new. Being one of the oldest cities in the nation, Kolkata is home to numerous historical palaces, temples, monuments, hospitals, and other structures. The city has also been recognised for housing the second-biggest football stadium, Salt Lake Arena, and Eden Gardens, India's largest cricket stadium.

Kolkata is one of the most economically prosperous cities in the nation, with very low living expenses. Additionally, one won't have any issues with transportation since you can quickly connect to all areas of the city using rickshaws, railways, and buses. Due to the emergence of numerous IT companies and educational institutions, relocation to Kolkata has significantly expanded in recent years.

Market Size of Real Estate in Kolkata

The former capital of India offers broad options in real estate for investors to find their preferred interests. The city is well known for its dense population, yet brewing services under different sectors. The infrastructure is also about tourist destinations and the people's living culture with excellent connectivity. All these are emphasised due to the pocket-friendly residential properties at an unbelievable price bracket starting from Rs. 22 lakhs to 3.5 crores. Interestingly, the low-price budget is not compromised on constructional qualities and promotes a spacious living culture. There are certain localities which are in progress for a tremendous transformation from traditional architecture into lavish societies with 1 BHK to 6 BHK bedroom units. 

Infrastructure and Connectivity

The most affordable city in India has a history of impressive infrastructure that is followed like a legacy in today’s decade. This metropolitan city has recently possessed the underground metro and has got the installation with the first-metro line ever in India. The Kolkata Suburban Railway lines are a major advantage that connects the city to the utmost destinations of the country. Apart from this, the complete group of transport responsible such as  Calcutta State Transport Corporation, North Bengal State Transport Corporation, and South Bengal State Transport Corporation, monitors intercity bus service. They focus on providing the residents with the best price for each corner with time-effectiveness. Also, several highways facilitate the hustle-free movement of people from one city to another. 

Demographic Statistics by Population

The largest economy of eastern India is in Kolkata, which has been reformed as an IT hub lately. As per the Census Report 2011, its dense population ranged at 4.5 million.  Where the female population is over 928, the male population counts is approximately 1000. Literature is the real essence of its history, with a literacy rate of 88.33%. Here, typical Bengali families are witnessed with a minority of Bihari Oriya, Punjabi, Parsi and Marwari. It also has a smaller population of Chinese and Tibetans as well. Kolkata is also recognised as the fastest growing software market, which has led it to become a spot for several MNCs’ Headquarters. 

Home and Living

The living culture in Kolkata is straightly black of white. This means some places will be completely modern, and some will have a strong touch of traditional architecture. After Salt Lake, localities like Rajarhat, Behala, Behala, Joka, New Town, Narendrapur, Jessore Road, Naktala Ranikuthi, Tollygunge, EM Bypass and Anwar Shah Road, to name a few, are considered to be the satellite township. However, North Kolkata has yet not come over the ancient architecture and is going through a renovation as per the current market demands. Besides this, areas like Baguihati, Lake Town and Keshtopur are impressive, close to the designated highways, railway stations and even the airport. 

Lifestyle

Dynamic revolution of living experience is what Kolkata is all about. The city is famous for government educational institutions, research hubs, vibrant art, and mouth-watering cuisines. Including this, it is active with blissful spots such as Quest, City Centre (I&II), New Market, Fancy Market and more. Being a pocket-friendly city, it also dominates in a flea market where every possible product is found at a reasonable price range. And the other best side of the city is the lanes dedicated to thrilling clubs, restaurants and hotels. 

Real Estate Future and Growth Opportunity in Kolkata

Kolkata is witnessing a hike each year due to migration because of its reasonable living against the on-going inflation in the country. The city welcomes mega banking institutes and software companies to settle at an uncountable advantage. This also attracts employees from across the country. In fact, residential properties have also found their right value with modernisation. Apart from all these, many monuments keep tourists engaged throughout the year. Overall, investing here ensures a double return to the buyers with ample amenities, a peaceful living experience, and growth opportunities. 

Top Localities with Price Trends

Here is a researched list of price trends found in Kolkata’s incredible real estate properties:

Top Localities in Kolkata for Rent / Sale

For easy and low-budget living, Kolkata offers a wide range of localities that is great with amenities. They are fit not just for residential purposes but also fit the best for retail business. 

Salt Lake or  Bidhan Nagar

Salt Lake, commonly referred to as Bidhan Nagar, is Kolkata's main IT hub and a thoughtfully designed satellite town. Due to the numerous highly developed IT hubs surrounding Kolkata, it is quite popular among young people and IT professionals. With plenty of open space and all the amenities of contemporary living close by, Salt Lake is a thriving neighbourhood. These include Salt Lake Central Park, which contains lakes and walkways and is popular for birdwatching, and the family-friendly Nicco Park. The flats available for sale here can vary from 1-BHK to 6-BHK, beginning at Rs.22 Lakhs and up to Rs. 3.7 Crores. The rental prices range from Rs. 6,000 for 1-BHK to Rs. 2.5 lakhs for plus 6-BHK.

Tollygunge

Tollygunge, a neighbourhood in South Kolkata, is well-known for housing many Tollywood (Bengali) film studios. This area has a mixture of independent homes and high-rise apartment buildings. Its proximity to metro and rail networks is a big plus. Lake and Golf Green Park are both accessible on foot in 15 to 20 minutes if you enjoy morning strolls. It is a very upscale neighbourhood with lots of greenery and contemporary lifestyle facilities. The flats available for sale here can vary from 1-BHK to 6-BHK, beginning at Rs. 7 Lakhs and up to Rs. 17 Crores. The rental prices range from Rs. 3,000 for 1-BHK to Rs. 75,000 for a 4-BHK.

Alipore 

Alipore is the most affluent and exclusive area of Kolkata. Additionally, living in Alipore is among the most expensive localities in India. One of the city's oldest neighbourhoods, Alipore, features historical landmarks including the Alipore Zoo, Taj Bengal, National Library, and Racecourse that offer a picture of Old Kolkata's past. Since CCTV cameras monitor the entire area, this location is among the safest places in Kolkata to stay. There is easy connectivity via accessible transportation. The sale price of flats in Alipore for 3-BHK to 6-BHK and more begins at Rs. 30 lakhs and goes up to Rs. 14.75 crores. The rental prices range from Rs. 15,000 for 3-BHK to Rs. 10 lakhs for a 6-BHK.

Jadavpur

Jadavpur, a well-known suburb south of Kolkata, encapsulates 288 residential flats that are well-maintained and reasonably priced compared to other areas. All major areas are well connected to Jadavpur via affordable local transportation. Jadavpur is well-known worldwide for hosting the Kali Pujas each year in addition to housing many schools, institutions, and green parks that are essential for daily survival. The flats available for sale here can vary from 1-BHK to 4-BHK with a price beginning at Rs. 13 lakhs and up to Rs. 2.3 crores. The rental prices range from Rs. 5,000 for 1-BHK to Rs. 75,000 for a 3-BHK.

Dum Dum

One of Kolkata's affordable and well-connected residential neighbourhoods is Dum Dum, which is well connected to all other areas via local means of transportation. Dum Dum is also a better place to live because it is brimming with well-kept residences, the finest hospitals, malls, and other amenities, and it is home to Kolkata's airport. The flats in Dum Dum for sale can vary from 1-BHK to 4-BHK with a price beginning at Rs. 1 lakh and going up to Rs. 1.5 crores. The rental prices range from Rs. 5,000 for 1-BHK to Rs. 30,000 for a 4-BHK.

Bhawanipore

Bhawanipore, a neighbourhood in southern Kolkata, is renowned as the city's centre for entertainment. The residences of wealthy business families, movie stars, and wealthy immigrants are well-known for being in this region. Bhawanipore boasts high-quality civic amenities, including schools and hospitals, within a few kilometres and is surrounded by the Indira Cinema, Basusree Cinema, and Kolkata Municipal Corporation building. Luxury villas and bungalows are typically favoured in the area. The sale price for flats in Bhawanipore range from as low as Rs. 30,000 and goes up to Rs. 8 crores. The rental prices range from Rs. 18,000 to Rs. 70,000.

Projects in Kolkata: New Projects in Kolkata, RERA 

Explore the astonishing properties in Kolkata which are RERA registered and have world-class qualities for your dream home:

Property Investment Options in Kolkata

People are relocating more frequently around the nation, which is fueling a boom in the housing market in Kolkata. Hence, for residents, students, and corporates wishing to settle down, Kolkata, known as "the cultural capital of India," offers a variety of housing alternatives with top-notch amenities. 

Renting or purchasing an apartment is the most cost-effective residential option. They are typically in complexes or high-rise buildings. There are several apartments in Kolkata, including those in Ballygunge, Rajarhat, Kankurgachi, Southern Avenue, Elgin, Southern Avenue, Uttarpara, and other areas. The rent ranges from Rs. 5000 for a 1 BHK to Rs. 12 lakhs for high-end opulent apartments, and many of the units are well-built. Depending on the location, the purchase price for these flats in Kolkata starts at Rs. 7 lakhs for a 1-BHK apartment and can go up to Rs. 16 crores for a 5-BHK apartment.

Many localities provide ready-to-move-in property in Kolkata for rent and sale. Some localities that provide well-built ready-to-move-in properties are Salt Lake, Alipore, Park Street, Ballygunge, and Bhawanipore. The starting price for these residences is Rs. 30 lakhs for 1-3 BHK, which increases to Rs. 16 crores and more for properties with 5 or more BHK. These residences range in price from Rs. 1,500 for a 1 BHK to Rs. 5.5 lakhs for a lavish space on rent. As a buyer or investor, you can select properties with various furnishings based on your preferences.

A builder's floor is appropriate for individuals seeking a self-sufficient, independent home at a reasonable price. One of the best places to purchase a builder’s floor in Kolkata includes areas such as Dover Lane, Howrah, Keshtopur, Barrackpore, and Uttarpara Kotrung few. They cost more than apartments but are still less than vacant residential plots. Depending on the specifics you seek, the rent for a builder's floor in Pune range from Rs. 5,000 to Rs. 50,000 or more. Buying a builder's floor in Kolkata ranges from Rs.10 lakhs to Rs.1.15 crores.

In many major cities, villas or bungalows are currently the favoured housing types. In Kolkata, everyone from business entrepreneurs to joint families prefers to live in villas since they offer more privacy and space. Villas of various unit sizes are available in neighbourhoods such as Ballygunge, Rajarhat, Kalyani, Dum Dum, and Salt Lake. Depending on the location, renting a villa in Pune might cost anywhere between Rs. 5,000 to Rs. 3 lakhs for the 5-BHK villa. Villas can be purchased anywhere from Rs. 15 lakhs to Rs. 14 crores.

Kolkata’s Top Real Estate Companies 

Here is the list of the top-notch real estate developers with years of experience and the flawless infrastructure they established in the existing market:

Builder Experience Total Projects
Siddha Group 37 years experience 12 under construction & 21 well-occupied projects
PS Group 38 years experience 16 under construction & 25 well-occupied projects
Srijan Realty 12 years experience 12 under construction &  5 well-occupiedd projects
Godrej Properties 33 years experience 3 under construction &  3 well-occupied projects
Sugam Homes 123 years experience 4 under construction &  7 well-occupied projects
Ambuja Neotia 123 years experience 8 under construction &  33 well-occupied projects
Mani Group 43 years experience 3 under construction  & 23 well-occupied projects
Unitech Limited 52 years experience 15 completed projects

FAQs

1. How is the real estate market in Kolkata?

Ans. Kolkata’s real estate market is rapidly growing as several government projects, IT offices, highways, and research centres have been established to promote a metro lifestyle with convenient commute facilities.

2. Why are property rates so high in Kolkata?

Ans. Kolkata’s posh localities are expensive compared to its traditional and old localities due to modern architecture, numerous amenities and smart living standards. 

3. Is it reasonable to buy property in Kolkata?

Ans. Compared to other metropolitan cities, Kolkata is highly affordable to buy a property, opening the door to incredible return on investment as there are currently several brewing facilities. 

4. Which is the cheapest place to live in Kolkata?

Ans. Salt Lake City is the most affordable locality to buy or rent a property in Kolkata.

5. Which is the most expensive place to live in Kolkata?

Ans. Bhawanipore is the most expensive locality to buy or rent a property in Kolkata.

6. How much does an apartment cost in Kolkata?

Ans. Living in Kolkata will cost a single person around Rs. 15,000 on average for a decent lifestyle per month. 

7. Kolkata vs Delhi Real Estate Market?

Ans. Kolkata real estate is older than Delhi yet reasonable on pricing. It offers similar living standards with a better experience in terms of expenses, decent crowd and amenities.

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