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Where to buy a flat under Rs 30 lakh in Kolkata?
Source: The Times of India Feb 27, 2014
Where to buy a flat under Rs 30 lakh in Kolkata?

The Times Of India
Are you looking for a property in Kolkata under Rs 30 lakh? Finding a home in this budget range may sound impossible in the metro city of Kolkata, but there are some localities where such residential properties are available. Let's have the insight of some of these areas.

Belghoria

Close to Belghoria Expressway, this is a promising location for the home buyers within this budget range. Residential complexes are coming up here in great numbers which have amenities like car parking, security system and community centre in it. Some of these structures are ready to move and others will be offering possession later this year.

Ample public transportation facilities and proximity to Sealdah railway station provides the connectivity to the other parts of the city which adds to the convenience of the residents. According to Magicbricks data, the average capital value for properties here was Rs 2716 per sq ft in last quarter. End users can plan to invest here however the scope of price appreciation is very less due to stagnant development of the nearby areas.

Bablatala

It is a well-connected locality having metro station, retail market, educational institutes, medical facilities circum 2.5 km. Moreover, proximity to airport adds advantage for the home buyers who are frequent fliers. Projects in Kolkata from small scale builders are available in abundance where possessions will be made later this year or early next year. As per the data, the average value of properties in Oct - Dec 2013 was Rs 2933 per sq ft and recorded 7 per cent appreciation in the same quarter.

"Home buyers prefer this area as real estate developments are closer to the main road where city buses are easily available, people going to office places can find conveyance at any time of the day," says Manoj Jaiswal, business partner at Pillars Consultants.

Rajpur Market

This location offers multiple options in under construction and ready to move category. It has well-built civil and social infrastructure under 4 km distance. The accessibility to the area gets boost from the Eastern Metropolitan Bypass road where frequent public vehicles are available here for movement. Some projects from Mayfair Developers are already developed and those in development phase will be ready for possession early next year.

These projects are equipped with all the major amenities including car parking, water facilities and swimming pool area. According to the data, the average price of properties was Rs 2552 per sq ft in the last three months of 2013 as it faced a marginal downfall.

Maheshtala

It is an area entirely occupied by small and middle scale builders. Eden City, the landmark has already started providing possession to the buyers although the infrastructure around is still in development phase. The BBT Flyover coming up here connects the area with Taratala and other parts of south region. The locality enjoys accessibility to the nearby markets having all basic necessities available, such as retail complexes, medical facilities and more.

"The projects coming up here are expected to boost the sentiments of the buyers who have lost confidence in the market because of economic slowdown," says Swastika Ghosh, sales coordinator at DNJ Realty. According to the data, the average price of properties was Rs 2785 per sq ft in the last three months of 2013. This is the region where resale properties are driving the realty market so far, the investors may not find this place interesting.

Garia Boral Road

It is a well-flourished locality of the city. Affordable Flats in Garia Boral Road are available with basic facilities. Although property prices are low here and are not expected to grow up because of sluggish economic phase, end users are interested at this end because of developed infrastructure. The residential complexes available in the area have all functional amenities including car parking, children's play area, power backup and water supply.

The residents here enjoy the availability of metro to connect with the main hotspots of the city for work or recreation purposes. As per the Magicbricks.com data, the average property rates were Rs 2839 per sq ft in the quarter of Oct - Dec 2013. However investors may not have a good time here because of the stagnant market, but end users may find low-priced homes in good locality.

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