4 Luring Facts About Property In Kolkata You Should Be Aware Of

Once known for its culture and amazing cuisine, Kolkata today has emerged as a major business hub encompassing the industries in eastern as well as north eastern India. Some of the major industries that are operating successfully in Kolkata and have been helping earn a livelihood are heavy engineering, steel, minerals, pharmaceuticals, cement and agriculture. Further advancements and business collaborations have helped industries like food processing, textiles, leather, jewelry and tea to flourish as well.

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The industrial growth has welcomed the desired urbanization as well. All these factors have influenced the migration rate and have given rise to a thriving expatriate populace. The expat professionals and a huge number of people relocating to Kolkata have given led to surged real estate activities. This brings to you a number of facts that you must be aware of, if you are planning to catch up with the city. The housing and lodging should be the first thing in notice. Here are 5 facts:
1. Transportation Affects the Choice
The Metro Rail System in Kolkata has surpassed its counterparts in Delhi and Mumbai and has proved the nation that it is the best. The metro system in Kolkata is kind of oldest and has elevated the living standards and overall face value of the city. The properties in Kolkata that are stationed near the metro seem a little expensive in terms of cost but choosing a home close to the metro will reduce the travelling as well as connectivity issues. Some of the areas that can be considered in this aspect are in South Kolkata, such as Bhawanipore, Lansdowne, Park Circus, Ballygunge, Alipore and New Alipore, to list a few.
2. The Building Model
The business of real estate is like a mirror that reflects success of one to the other. You can probably see that in the real estate market of Kolkata as the housing segment dons a new look now. The builders operating in the city are following the trends seen in Mumbai, Chennai and Bangalore. Similar to these cities, the real estate leaders in Kolkata are coming up with affordable housing options and beautifully designed villas for the elite. Moreover, apartments in Kolkata can also be seen with modular kitchens and latest architectural patterns. The city of Kolkata will soon be the next international destination, just like Bangalore and Mumbai.
3. Something For the NRIs
The face of the property market in Kolkata has changed in leaps and bounds. All the good credit goes to the design and construction trends taken from the likes of Mumbai and Bangalore. The beginning of construction of the smart and affordable homes is seeing the horizon of success and is also attracting the attention of the NRIs and buyers from different locales. Unlike Mumbai and Bangalore, transactions in the realty market of Kolkata are driven by consumers rather than investors. Hence, the property prices remain steady here, in scenarios of both, boom and recession. So, if you are one of the lot then Kolkata could be the best deal of your life.
4. A Safe Bet
The city of Kolkata has always been known to be one of the safest Indian cities to initiate realty transactions. This metropolitan city is offering by far the most affordable range of housing to masses as well as classes who have budget starting from as low as Rs 8 lakhs. You can also expect a good return on your investment here. When recession hit the India in 2008, entire real estate market was badly affected except Kolkata. The city braved the economic blows and delivered the best outputs in tough times. Reason being, the realty segment in Kolkata here is driven by end users market that indicates high demand and relatively low supply.

Though People relate the city with culture more than the business thing; still you can't ignore the real estate market here that carries an enviable stature. Unlike other metro cities that run of stock over flow and less demand, Kolkata is loved by end users and they take it safe in all spheres of investment.
For detailed clarification of real estate market in Kolkata, click Properties in Kolkata


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