Kolkata property: the present day scenario

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Published: 20th January 2011
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Kolkata property: the present day scenario

The recent property scenario of India is showing a downfall in the property graph, however, Kolkata is exceptional in such case. The real estate scenario in Kolkata is still going strong amidst the low prices in other metropolice. It is beyond expectation for many that the Kolkata property prices are soaring with each passing day. For example, the south Kolkata apartments price has risen upto Rs 800/ sq feet in the last six months. Similarly, the properties in the Bhowanipore area falls into the Rs 3000/ sq foot at present in comparison to the previous price of Rs 2200/sq feet.

According to the market analysis, there are a few areas that have seen an outstanding development in the field of property like the Prince Anwar Shah Road, Ballygunge, Elgin Road etc. There are several factors that are the reasons behind such a price hike such as huge demand and limited suppy of various real estate options, new projects that are coming up, improved condition of connecting roads etc.

If you are planning to buy a property in Kolkata, then there are a few questions that might pop up in your mind such as which location should you buy a property, etc.

Here are a list of some renowned places in Kolkata along with a brief description of the place.

Bhowanipore is one of the posh localities of south Kolkata. This place harbours the wealthy immigrants of Kolkata. It is one of the most luxurious and posh places in the entire Kolkata. A lot of celebrities resided here, Satyajit Ray, Uttam Kumar etc. Also one of the true heroes of the country-Netaji Subhash Chandra Bose resided here.

Ballygunge is an up market area of Kolkata. This place earlier had villas and bunglows. Presently they have been replaced by high rise apartments. But still, the property prices around this area is very high due to the history of the place.

Eastern Metropolitan Bypass and the Rajarhat suburbs are also areas which have seen a sudden rise in the real estate prices in the recent years. Along with these areas, Prince Anwar Shah Road, Elgin Road are also pretty happening places and therefore have seen a rise in the demand in the property market.

There are also other places like Dankuni, Howrah, Batanagar etc are in the suburbs of Kolkata and they too have seen an encouraging growth in the price. Many NRI investors are willing to invest a huge sum for building property here. This is a reason why some great projects are happening here.

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