Kolkata has seen a spurt in the residential real estate market in last few years. With back to back infrastructure developments and changing trend in the property market many ne suburbs have emerged as a preferred residential location among home buyers. Micro-markets like Newtown, Rajarhat, Narendrapur, Garia, etc. are among the top localities offering seamless connectivity, better returns, and affordable as well as premium developments in Kolkata.
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A thriving locality of South Kolkata, Tollygunge is the center of the Bengali film industry, known as Tollywood. The area is surrounded by neighbourhoods such as Golf Gardens, Kudghat, Bansdroni, and Ranikuthi. Because of the presence of the Bengali film industry, the area enjoys well-developed and smooth connectivity to all the parts of Kolkata.
Many top schools and colleges are located in the locality along with shopping centers, hospitals, and banks. Despite being a saturated area, many realtors are coming up with residential apartments ranging from 1 to 6 BHK here. The property rates in Tollygunge vary from Rs 3500 to 10,500 per sq ft.
Rajarhat is located in North 24 Parganas district and is lying just on the periphery of the planned New Town, Kolkata. The locality has seen a huge spurt in real estate market in recent time.
Due to thriving infrastructure and presence of many reputed schools, colleges, popular hospitals, and smooth connectivity, Rajarhat has attracted many prospective home buyers and developers in the last few years.
One has the option to choose from residential apartments ranging from 1 to 5 BHK, villas, and plots here. The average property value in the region is Rs 3,700 per sqft.
A rapidly developing suburb in Kolkata, New Town is located partly in North 24 Parganas district and South 24 Parganas district. The locality is well-connected to Kolkata and adjoining areas via VIP Road and is just 4 kilometers from the Netaji Subhash Chandra Bose International Airport. Salt Lake, the biggest commercial area and sector-V, the new commercial hub are also within close proximity to New Town.
In recent time, many integrated townships comprising of residential units, commercial centers, and corporate complexes have launched in New Town area making it a preferred locality to invest among many prospective home buyers.
The average property price in New Town is Rs.4000 per sq. ft.
A well-developed locality in Rajpur Sonarpur Municipality of South 24 Parganas, Narendrapur is situated in the right beside of Adi Ganga. Narendrapur enjoys smooth connectivity with the rest of Kolkata via well-developed rail and road network. Areas like Sonarpur, Rajpur, Baishnabghata, and Fartabad are in close vicinity to the locality.
Narendrapur boasts well-developed infrastructure which includes reputed educational institutions, numerous hospitals, and recreation centers. Narendrapur became a sought after neighbourhood for residential constructions after the Garia branch of the metro railway commenced its operations.
Developers such as Group, Rajwada Group, RDB Group, Rajat Group etc. are already developing their projects here. An increase of 22.6% has been in the property prices here in last 6 months. Average property price here is Rs 3147 per sq ft.
Madhyamgram is located in North 24 Parganas district and is a part of Kolkata Urban Agglomeration. The locality is surrounded by areas such as Netaji Nagar, Michael Nagar, Doltala, Kodalia, and Bharat Nagar, among others.
Due to the presence of famous schools, hospitals, and higher education institutions, the area is popular among many middle-income group home buyers. Prominent real estate developers such as Group, Pearl Realty, Group, and the Aryan Group are developing their projects here.
Average property price in Madhyamgram is between Rs 2200 and 3200 per sq ft. The locality has witnessed a rise of 37 percent in the past six months.