Planning to buy a property in Kolkata. The good news is that property prices are comparatively lower than in the rest of the metro cities of India. The ‘city of joy’ is a good ground for making a purchase without making much dent in the markets. Magicbricks brings some key pointers which will help you in making a correct investment decision.
The year started with a marginal rise (0.56%) in property prices. The top localities registering highest average price per sq ft are Ballygunje Circular Road (Rs 14,752); followed by Keyatala Road (Rs 10,263) and Ultadanga (Rs 7,829)
The year 2016 ended with a marginal 0.2 per cent increment. In the previous quarter (Jul-Sep 2016) the recorded gain was 0.57 per cent
East Kolkata should be surveyed as many upcoming projects are present here. Properties in this region start at Rs 2,000 per sq ft and reach Rs 6,000 per sq ft. The region accounts for almost half the city’s residential supply and grew by 0.5% over the previous quarter
North Kolkata caters to the budget segments with prices between Rs 2,000-4,000 per sq ft. Average prices here declined by a significant 3.4 per cent this quarter. Choose this region only if you have a long horizon
West Kolkata is the least significant residential destination of the city. This region provides properties in the range of Rs 3,000-4,000 per sq ft. It climbed by a significant 3.9% over the last quarter. Don’t miss this portion of the city!
South Kolkata, starting from the south of AC Bose Road, provides the widest range of options. Properties here start at Rs 2,000 per sq ft and go upto Rs 8,000 per sq ft. This region grew by just 0.1 per cent in the quarter. It provides the costliest properties of all regions in Kolkata, where properties costlier than Rs 6,000 per sq ft are almost exclusively found here
If you are facing trouble choosing between ready possession and Under Construction (UC) properties, then you should know that the former were 3.8 per cent more expensive than UC properties. The average percentage price difference in the UC versus Ready-to-Move-in (RM) properties remained more or less stagnant over the last quarter..