As spaces for new development in mainland Kolkata shrink with time, locations around the fringes of the city are rapidly emerging as the nerve centre of Kolkataâ€™s real estate investment, promising impressive returns over a mid to long-term time spread.
These areas, which have already grabbed the attention of real estate investors, are increasingly becoming lucrative investment destinations â€” adding to the â€˜investment quotientâ€™ with better connectivity, access to basic infrastructure, and fast-paced developments.
Hereâ€™s an overview of the cityâ€™s real estate micro trends and the budding investment venues.
Prime investment locations: Areas on B.T.Road like Dunlop, Sinthi more, Sodepur & Agarpara along with Madhyamgram. Dum Dum and its surrounding areas on Jessore Road also hold significant investment interest due to its close proximity to the domestic and international airport, Ground Rail, Circular Rail, and Metro Rail as well as improvement in road infrastructure.
Major development activities in North Kolkata are currently happening around B.T. Road.
The development of the six-lane B.T. Road, further extension of the Metro rail from Dum Dum to Dakshineshwar, Nivedita Setu, and easy access to Rajarhat mega city are key growth boosters of this micro market.
B.T. Road is strategically located yet is not very far from the centre of the city. Coming to Shyambazar by many modes of transport is quite convenient.
Keeping these factors in mind B. T. Road is having a number of residential projects at various stages of completion, and a prudent investment made in any of the good projects is expected to be handsomely rewarding.
Prime investment locations:Â Narendrapur, Garia, Kasba, Thakurpukur, Joka, Behala, Sonarpur & Kamalgazi
The southern part of the city hosts some of the countryâ€™s premier educational institutions like the Lady Brabourne College, Indian Institute of Chemical Biology, Jadavpur University, and the Indian Institute of Management. There are also a number of premier schools, hospitals, auditoriums and shopping malls dotting the area.
South Kolkata along EM Bypass is well connected by road, rail, and the Metro network. The existing infrastructure is being complimented by new and proposed development plans like the Bus Rapid Transit System (BRTS), extension of the EM Bypass, the Garia-Airport metro link, and numerous flyovers. These developments are acting as crucial growth stimulators, spurring an increased demand in areas like Narendrapur, Garia, Kasba etc.
The other expansion of South Kolkata is happening along Diamond Harbour Road. This area is getting transformed rapidly with the betterment of roads as well as the upcoming Joka BBD Bag Metro link. It is expected that this Metro link, once completed will be a major growth driver of this stretch.
Many relatively affordable residential projects are being constructed along both these locations and as and when the infrastructure projects get completed, the investment value is expected to appreciate further.
Prime investment locations: New Town, Rajarhat
The future of New Town, from an investment perspective, is definitely eye-catching. It is perhaps the most prominent investment location in the eastern micro-market.
New Town, already sitting on a well-planned existing layout, is witnessing a surge in upcoming infrastructure projects like – improved road network, flyover connectivity, and the on-going Rajarhat Metro – all coming together to boost the investment value of the area significantly. Moreover, as New Town is selected as a future Smart City, there will be substantial Central fund infused in improving the infrastructure of New Town.
New Town is expected to have substantial commercial interest in future as major infrastructure is being built for commercial operation of the service industry. There are also a plethora of residential projects under different stages of completion. Both the residential and commercial segment will complement each other in New Town. This area is currently a growth hotspot in Kolkata and investing here is quite sure to fetch good returns.
However, improved infrastructure in New Town is also creating opportunities for nearby areas, Rajarhat in particular. The real estate investment opportunities are many in Rajarhat and it is going to have good appreciation as Rajarhat is going to get substantial advantage because of the proximity to New Town. Schools, colleges, hospitals and connectivity like Metro is surely going to benefit Rajarhat residents also. Even as the property prices in New Town are rather high in many cases, Rajarhat can be looked at as an alternative investment opportunity.
Prime investment locations:Â Park Circus, Topsia along the EM Bypass Park Circus Connector
Extended parts of central Kolkata along the Park Circus connector like Park Circus, and Topsia still holds great value for investments with stimulators like interwoven network of road, rail, flyovers, and close proximity to key facilities like the airport, 2nd Hooghly Bridge (Vidyasagar Setu), stations, tourist destinations, and the cityâ€™s shopping high streets. The long flyover stretching from EM Bypass to Park Circus has helped to considerably speed up the traffic system.
To conclude, Kolkata is expanding very rapidly and new areas are expected to come into the fold of the city proper by virtue of better and faster communication. Real estate investors are taking Kolkata seriously, as the eastern metropolis is no longer a place for safe investments; rather, it is now a destination for high profits. If you are looking to buy flats in Kolkata for investment, consider these locations.