The real estate agents in Kolkata unveiled an array of reasons for this high price in certain areas.
(prHWY.com) March 16, 2012 - Kolkata, India -- Although the property graph in India is still showing a downward trend however this is certainly not the case with the houses for sale in Kolkata. The city's real estate still remains as the hottest sector to invest on. Contrasting to the falling real estate prices in many metros in India, real estate in Kolkata is still rising upward and that too at a rate which belies all potential.
To be honest, the city has gained a new avatar with many hotels, retail malls, and with rent house in Kolkata to support the upward demand. As a matter of fact, the Govt. Support through SEZs, IT Parks have also added fuel to the overall development in the real estate flats in Kolkata. Truth of the matter is, the areas in south and south central Kolkata where the price of apartments has now shoot up to the tune of around Rs 800 per square feet in just few months. Good news for the real estate investors because the builders in Kolkata clearly remonstrates that even a few months ago, most of the projects in Bhowanipore area typically priced at Rs 2200 per square foot. And now the property price in the same area has shot up to around 3000 per square foot. The market analysts have located the areas which have seen an outstanding price rise are the Ballygunge area, Prince Anwar Shah Road and Elgin Road of south Kolkata. The real estate agents in Kolkata unveiled an array of reasons for this high price in certain areas. Limited availability of real estate options, successful retail and entertainment establishments, and improved road connectivity stands as the contributing factors for this price hike.
So, the question remains where will you buy flats in Kolkata? It is impossible to answer this in one simple line however a short introduction to the most renowned areas of Kolkata will lead to better understanding. Ideally nestled in South Kolkata, Bhowanipore is still considered as a posh locality. Inhabited by wealthy and erudite immigrants Bhowanipore has gained the status of being one of the luxurious settings. Ballygunge stands as another up market and cream areas of Kolkata for real estate investment. Aside from the North and south, the eastern part of Kolkata has also gained importance as one of the hotspots for real estate flats. Real estate prices have now soared in the areas such as DLF's high end project in Dankuni, Howrah and Batanagar areas.
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