Monday, May 20, 2019

Kolkata’s Real Estate Sector Seeing Swift Development

Real estate market in Kolkata has been seeing a good growth. Since the HIRA guidelines have been introduced, consumers feel more confidence about purchasing a home.

Kolkata is a growing city. Several infrastructure projects have played a significant role in the development of this bustling metropolis. The newly built expressways and expanded metro rail route has resulted in a lot of real estate projects coming up in some of the distant neighborhoods. The boundaries of the city are expanding. Localities which were outside the city limit a decade ago are today seen as part of the metropolitan area. Hence, many real estate companies are now investing in residential projects in many up-and-coming neighborhoods of the city.

The home buying market in Kolkata is going through a positive phase currently. The West Bengal government has started with the strict implementation of HIRA Act. This aims to bring about more transparency in the real estate sector. Real estate developers in Kolkata have to be very clear about their building plans and make sure they deliver on all that was promised. In case of any breach contract, buyers can complain to the HIRA regulatory body. This has given the power into the hands of the consumers. They feel more confident about making a purchase, thus, benefiting the real estate market.

Kolkata has many residential options to choose from – apartments, duplex flats, spacious villa, or luxury homes. This makes real estate investment in the city very lucrative. A good decision would be to buy an apartment close to the upcoming metro route. Nearby neighborhoods are expected to see a significant increase in their property prices in the future. For investment purpose, one can buy a flat at the current market rate. When the metro construction gets completed and the land prices go up, investors can re-sale the flat at a much higher cost than the original price. Thus, investing in real estate in Kolkata can yield good returns.

Real estate developers in Kolkata are coming up with many high-end residential projects in some of the best neighborhoods of the city. The EM Bypass in South Kolkata is the common address for many of these upcoming projects. The proposed metro rail corridor between New Garia to Dumdum Airport is being built over a long stretch of EM Bypass. Neighborhoods like New Garia, Patuli, Kalikapur, Mukundapur, VIP Bazaar, Science City, Salt Lake and New Town fall under this. Being so close to the upcoming metro route, residential apartments in one of these localities are in high demand by the home buyers.

Residential projects coming up in the city are aplenty. A significant number of these projects include luxury residential complexes. Spacious apartments are developed with the best of modern amenities to attract rich and affluent buyers. These luxury homes are built with premium quality raw materials. Italian marble flooring is used in the living rooms, dining areas, and the bedrooms. The bathrooms are furnished with imported marble tiles. The kitchen includes a granite cooking counter and stainless steel sink. Highest grade of fittings and fixtures are used in the bathroom and kitchen. Real estate developers in Kolkata promise good aesthetics and strong build quality to their buyers.

A luxury residential project offers apartments with huge and spacious rooms. Planned cross ventilation allows air to flow freely, and windows are built to ensure plenty of natural light enters the space. There is a large balcony to spend relaxed evenings and a utility room that can be used for multi-purpose needs. These apartments are designed as a blend of both comfort and luxury.

The residential complex comes with a host of world-class amenities such as elevated jogging track, children’s play area, senior citizen’s sitting area, gymnasium, banquet hall, swimming pool, indoor games room, party hall, squash court, a private theatre and much more. It is planned as mini township so that residents can get access to any and every recreational need right within the gates of the complex.

Luxury residences also boast of top security features. The entry and exit points have a two-tier security check with trained staff on guard duty. The complex is under 24 hour surveillance with CCTV cameras installed at strategic points like parking lots, corridors and elevators. As means of fire safety, every apartment has a LPG leakage detector in the kitchen. Fire alarms are installed in the common areas of the complex.

These projects also follow ecological guidelines. There are provisions made for rainwater harvesting which can be used for landscaping needs. A solid waste management system is also in place. LED lights are used in the common areas to minimize energy consumption. Real estate developers have planned a sustainable building.

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