South Kolkata has emerged as one of the hottest residential destinations of Kolkata – because of its prime localities, location, affordability, range of options and higher appreciation potential.
According to experts, the 5 most compelling reasons to buy property in South Kolkata are…
1. Presence of prime residential localities
One of the biggest factors that determines whether the value of property will rise or fall is its neighbourhood.A recent ICICI Property Servicesstudystates that localitieslike Ballygunge, Alipore, New Alipore – all of which are in South Kolkata – are considered the “most prime residential localities of the city”.
2. Locational advantages (connectivity, roads, markets, schools…)
South Kolkata is well connected to other parts of Kolkata – and moving forward, connectivity will improve significantly.
- Seamlessly connected by rail, metro and road. The extended metro service from Tollygunge to Garia has further eased the traffic in the suburban portion of South Kolkata.
- Hosts many educational institutions, such as Jadavpur University, Indian Institute of Chemical Biology, Ram Krishna Mission Residential College, Lady Brabourne College, IIM Calcutta, aswell asseveralothercolleges.
- Home to Bengali Film and Television, Tollywood (Tollygunge).
- Places of interest such as National Library of India, Zoological Garden, Agri Horticultural Gardens, Birla Industrial and Technological Museum, Royal Calcutta Golf Club and Tollygunge Club are located in South Kolkata.
- One of the biggest retail areas (Gariahat) is located in South Kolkata, comprising Kolkata’s finest branded show rooms and shops.
- Major malls such as South City Mall (Prince Anwar Shah Road), Metropolis Mall (Hiland Park).
Future infrastructure development will reduce travel time
- Several flyovers and underpasses are either underconstruction or will soon be constructed to improve connectivity.
- Construction of EM Bypass connector from Padmapukur to Kamalgachi is already in progress.
3. Affordable residential cost
At a time when homebuyers are becoming increasinglyprice- and location- conscious, South Kolkata is “witnessing a pan-Kolkata appeal in terms of end-use residential demand”. This points to a healthy trendthat will continue in 2017 and beyond.
One of the major reasons for South Kolkata’s mass appeal is that it is still very affordable relative to its locational attractiveness compared to other parts of Kolkata.
4. Wealth of choices (high & low budget options)
If you’re looking to buy a flat in South Kolkata, you’ll be surprised at the choices. Flat prices can start from around INR 12 lakh (1 BHK) and go all the way up to INR 2.5 crore and higher (see below).
|For low-cost flats (INR 12-25 lakhrange), try these areas…||For medium-cost flats (INR 26 lakh-1 crorerange), try these areas…||For high-cost flats (INR 1-2.5 crore range), try these areas…|
For super high-cost flats (INR 3-12+ crore) segment, try these areas…
CIT Road, Ultadanga
- For low cost options, try Garia, Nayabad, Rajarhat, Kasba, and Behala.
- If you’re willing to stretch your budget, try Ballygunge, Narendrapur, Alipore, Tollygunge, Thakurpur and Brahmapur
5. Higher appreciation potential
When investing in a flat, cost is an important factor – but not the only. Other factors also matter – such as:
(connectivity & traffic issues, markets, education, health and safety, etc.)
- Proximity to organized retail
- Proximity to commercial development
- Presence of upscale neighbourhoods nearby
- Future infrastructure development
- Future employment generation
South Kolkata scores well on these factors – which means it is a safer and more attractive investment option for home owners– especially those who may be worried about the 6 ways in which demonetization will affect the property market in India.
If you’re looking to buy a flat in 2017, do check out South Kolkata. It has some of the most upscale localities, excellent locational advantages, a wealth of affordable options – as well as a higher appreciation potential (which is always a huge plus-point).
Harsh Modi works as Director at Eden Group, a Kolkata based real estate company. A strong supporter of the Real Estate Regulatory Act, he believes it is a major step towards improving the Indian real estate market – as well as the confidence of consumers and institutional investors.