Kolkata is not just the city of sweets and writers, but it has become the real hub of IT and real estate sector. In past few months, when the rest of the country was facing ups and downs in the housing market, Kolkata witnessed the actual estate boom in that crucial period. What makes Kolkata rise in the real estate sector? Let’s find out in this post.
From the past one decade, the real estate industry in Kolkata has been dynamic and is increasing consistently. If the real transformation has occurred anywhere, then it is in Kolkata; both in the commercial and residential estate. What can be the precise reason behind such an appreciable growth and the transformation? Read ahead to know it!
- Low Land Cost-
If you compare the prices of lands of Kolkata with the prices in other metro cities, you can see a radical difference. The cost of the property is likely to be cheaper as compared to other cities. This factor helps people to buy the property without any hassle.
- Enhanced Infrastructure-
The ancient and British architecture is the thing that usually defines Kolkata. But, lately, one can see a lot of enhancement and improvement in the infrastructure that resides in the periphery of Kolkata. This is another reason for the sky touching real estate demand in Kolkata.
- Improved Transportation & Communication-
There was a time when people found it difficult to travel from suburban areas to the central Kolkata, as there were very few options for the transportation. But, since the last decade, the transportation has improved as well. In fact, Kolkata might be the only city to provide cheap transportation as compared to the other big cities of the country. Besides, the ways of communication have boosted up as well; therefore, it has become easy to get the hands on the property for sale in Kolkata. Another reason for the hike!
One of the prominent reasons for the boom is the rapid growth of industrialisation. Kolkata is one of those cities that resides the hub of information technology and other major industries. This growth encourages the employment and hence, the rising demand for residential property.
- Good Education Facilities-
Apart from all the other things, Kolkata also provides excellent education facilities. These facilities charm the students from around the country. That becomes another reason for the demand for residential property. Moreover, many of the NRIs and Indians from the eastern states decide to settle down in Kolkata, hence the increment in the real estate sector.
So, these are some of the reasons for the boom in the real estate sector of Kolkata. If you are trying to buy any property and you want to consider practical aspects more than emotional, then Kolkata city can become your new abode. Also, because of the low cost and availability of land, you will surely get to grab a great deal! Search your shining dream habitat today!