the real estate scenario in Kolkata has changed a lot in the last few years. However, the real estate scenario of North Kolkata is quite difficult from South Kolkata.North Kolkata was developed earlier than South Kolkata.
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Burgeoning Residential Property in Kolkata
South Kolkata which was once a marshy area is becoming one of the most developed areas of the city. New projects of apartments are changing the look of the city's southern part. Posh apartments have been constructed and still being constructed in the South Kolkata.Not only posh apartments, residential apartments for the middle class people are also coming up in a huge number. People who own independent houses are giving up their houses to contractors in exchange of lump sum amount of money. The contractors are constructing apartments in its place. Apartments in South Kolkata are mainly located in areas like Ballygunj, Gariahat, Tollygunj, New Alipore, Behala, Behala-Chowrasta, Joka and Mahestala. Celebrities are signed in as brand ambassadors of lavish apartments. Several schemes like lucky draw are undertaken to attract people to buy flats in the apartments.
With the emergence of Rajarhat as the new IT hub, the property scenario in North Kolkata is very interesting. Mainly the NRIs and IT sector's employees are putting up in Rajarhat. They are buying flats in North Kolkata as well. Depending on the modern facility and number of rooms, flats are available in various price ranges. However, the flats in North Kolkata are generally costly. There are two reasons behind this. Firstly, these flats are grand new and mainly being constructed keeping in mind the IT sector's people. Hence they have more modern facilities. As a result of this, flats are very costly. Another reason is that North Kolkata was settled upon by people much before South Kolkata came into being. People have their own individual houses and are more traditional too. They don't want to leave their houses and move to a flat. Hence buying a residential flat there is more expensive for any buyer.
Apart from residential flats, flats are also made for commercial usage. Offices are set up in these flats. South Kolkata being a commercial hub is a hot favourite real estate destination. Flats for commercial usage are more in demand in South Kolkata. For this, people want to have their residence near to their offices so that they can have easy transportation to office. In Kolkata, now it is flat culture more than the culture of having independent house. People can't be blamed for that even. In this fast paced life, people rarely have time to look after each and everything to construct a house. Choosing a readymade flat with modern amenities is much more preferable for them. Hence, like other cities of the country, Kolkata too is observing a huge growth of residential flats.
