Introduction
Known as an affordable property market, Kolkata offers huge potential in terms of rental yield. The city is witnessing continuous demand for rental housing, mainly due to industrial and commercial growth, especially in the peripheries. Let’s take a look at the top areas in Kolkata to invest in.
Table of Contents
- Best Area in Kolkata for Investment: New Town
- Best Areas in Kolkata for Investment: Joka
- Best Area in Kolkata Airport
- Best Area in Behala, Kolkata
- Best Investment Area: Em Bypass, Kolkata
Unlike other metro cities, property prices in Kolkata are still affordable for home buyers. Average property values in the city are Rs. 3,300 to Rs. 15,000 per sq. ft., among other factors that encourage people to invest in Kolkata. Rapid real estate development, smooth connectivity, and access to infrastructure.
As a result, demand for residential investments has increased in the market. Especially from non-resident Indians (NRIs) and those living in nearby cities. However, due to the limited space available in mainland Kolkata, areas around the fringes have gained importance. Emerged as the hub of Kolkata’s real estate activities.
Best Area in Kolkata for Investment: New Town
New Town, a suburb of Kolkata, has a mix of commercial and residential structures, mainly consisting of 2 BHK and 3 BHK units. This area has also been declared a solar city. Further development is planned under the Smart City Mission. Proximity to two major roads in Kolkata—EM Bypass and VIP Road, adds convenience.
Connects the new town to other parts of the city. Additionally, the area is well connected by various public transport modes, including bus services. The under-construction metro line from the airport to New Garia will also boost local connectivity once the first phase becomes operational in October 2022.
Best Areas in Kolkata for Investment: Joka
One of the fastest-growing real estate destinations in Kolkata. Joka offers its residents all the amenities of modern living. This area is located in south-west Kolkata. Affordability, better connectivity, and support for the development of several infrastructures. The area offers easy access to other popular areas like Esplanade, Howrah, and Sealdah via Diamond Harbor Road.
The Joka-Esplanade metro project, which will start operations by September 2022, will also add to the attractiveness of the area and boost real estate growth in and around the area. According to Joka, there is about 65 percent inventory here at Rs. 50 lakhs, which offers buyers a range of affordable residential options.
- Average property rates in Joka
| Locality | Average Prices (per sq ft) | Average Rentals (2 BHK) |
| Joka | Rs 5,800 | Rs 12,000 to Rs 20,000 per month |
Best Area in Kolkata Airport
Located 15 km from the city center, the airport is known for its seamless connectivity to the commercial hub of Salt Lake Sector V. Configured as 2 BHK apartments. 95 percent of the residential inventory at the airport is Rs. Available under 50 lakhs, this area is preferred by those looking to buy budget properties in Kolkata.
The airport has strong infrastructure. It has connectivity to other parts of the city through an excellent network of metros, buses, and railways. The area is close to the popular areas of Chatkal, Javpur, Rajbari, and Nagar Bazar. One of the preferred locations for work and residential investment in Kolkata.
| Locality | Average Prices (per sq ft) | Average Rentals (2 BHK) |
| Airport | Rs 4,100 | Rs 7,000 to Rs 15,000 per month |
Best Area in Behala, Kolkata
Behala is one of the most prestigious neighborhoods in South Kolkata. The area is well connected by a strong bus network to other popular areas like Park Street, Bidhannagar, Howrah, and Sealdah. Netaji Subhash Chandra Bose International Airport is the nearest airport, which is about 28 km from Behala.
Moreover, its proximity to several offices, like Diamond Harbor Road, Commack Street, and Bhawanipur, has made Behala popular among working professionals.
According to Nishit Anarkat, a realtor in Kolkata, “property prices in Behala have gone up because of the upcoming metro. It connects the locality to IIM Joka. There are mainly 2 BHK and 3 BHK units in this area. Demand for 2 BHK ready-to-move units is high. After the inauguration of the Metro, Behala is expected to see a significant appreciation in its residential values.”
| Locality | Average Prices (per sq ft) | Average Rentals (2 BHK) |
| Behala | Rs 4,500 | Rs 10,000 to Rs 17,000 per month |
Best Investment Area: Em Bypass, Kolkata
EM Bypass, close to Kolkata’s Central Business District (CBD), has drawn interest from IT companies and a large number of professionals working in Kasbah and Behala Industrial Estate. The area has adequate social infrastructure, marked by the presence of several retail malls, shopping complexes, schools, and healthcare institutes.
From the connectivity point of view, there are about 10 roads connecting the bypass to State Highway 1 and 3 and various other parts of the city like Salt Lake, Gariahat, and Lake Gardens. Realizing the potential of the micro-market, the area is now one of the most coveted locations for reputed builders like Eden Group. Mayfair Group of Builders, Amballika, and Ambuja Neotia Builders.
| Locality | Average Prices (per sq ft) | Average Rentals (2 BHK) |
| Em Bypass | Rs 4,300 | Rs 15,000 to Rs 17,000 per month |
Conclusion
All the above regions are poised for growth in the coming period, other micro markets like Desopriya Park, Baruipur, and Panchsayar can also be considered. Finally, real estate is a high investment. Therefore, it is always prudent to consult a real estate professional first. For more information visit our Openplot.com.