| Although Kolkata property markets have always | | | | central residential area that encompasses |
| been identified as the end-user one, investor | | | | Ballygunje, Alipore and Hastings-areas where |
| activities have started to gain ground in the | | | | capital value of residential plots is as high |
| city, of late. According to experts, it is | | | | as Rs 4,500 per sq ft. The capital values for |
| DLF that has suddenly brought Kolkata in the | | | | a 3,000 sq ft apartment in Alipur are |
| attention of real estate investors. | | | | recorded between Rs 1.50 and 2 crore. |
| | | | Similarly, the average rentals in the |
| Winning the tender floated by Kolkata | | | | aforesaid locations are from Rs 25,000 to Rs |
| Municipal Development Authority, the company | | | | 60,000 per month. |
| recently bought 4,900 acre of land in Kolkata | | | | |
| outskirts, at a whopping cost of Rs 2,400 | | | | Now that buying property in Kolkata prime has |
| crore. As much as 3,900 acre of land will be | | | | become impossible, peripheral locations at |
| developed, under the project, for residential | | | | the eastern side of the city have also come |
| purposes while the rest will be utilized for | | | | up as potential alternatives. Massive |
| building commercial properties, sources | | | | construction activities have been taking |
| inform. | | | | place at Eastern Metropolitan Bypass, Kasba, |
| | | | New Rajerghat Township and Topsia. Capital |
| This development in the real estate sector of | | | | values for apartments are in the range of Rs |
| Kolkata has triggered secondary residential | | | | 1,800 to Rs 2,400 per sq ft in these |
| districts of New Alipur, Moulali, Shah Road, | | | | locations. According to property consultants, |
| Prince Anwar, Sealdah and Kankurgachi. The | | | | investors can expect a moderate hike of 5-15% |
| capital values for residential properties | | | | on residential property capital value, in the |
| have increased by 30-50% in these areas in | | | | next 12 months. |
| the past couple of years while the rentals | | | | |
| have shot up by an average of 15% between | | | | For more details on Kolkata Real Estate, log |
| 2005 and 2008. All these locations are | | | | on to magicbricks. |
| located within the radius of 10 kms of the | | | | |