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5 reasons to invest in Dum Dum, Kolkata
Source: The Times of India Mar 05, 2014
5 reasons to invest in Dum Dum, Kolkata

The Times of India

The real estate market of Kolkata's Dum Dum has been growing consistently due to proximity to airport, connectivity, affordable value and more. Here is a review of the locality.

Located at a distance of approximately ten kilometres from the centre of the city, Dum Dum is known for the Netaji Subhash Chandra Bose International Airport. It has a well-laid rail and road transport network. The railway station is located on the Sealdah-Ranaghat line and the bus service is regular to Jessore, Babughat, Salt Lake Sector V, Birati-Nimta road, Cantonment Road and more.

Nilu Paul, owner at Paul Property talks of the spurt in the real estate market. Most of the people who settle in this part of North Kolkata are businessmen who are frequent fliers. Dum Dum's connectivity with the rest of Kolkata by road and railway also adds to the fact that the buyers see it as an upcoming destination. With good educational institutions in the vicinity, buyers who have invested in Dum Dum feel that their property is safely positioned.

Another reason why Dum Dum might have attracted buyers is the fact that it is realistically priced as compared to many other areas in the city that are well-connected and offer similar amenities, such as shopping complexes and proximity to the socio-cultural attractions in Kolkata. According to Magicbricks data, the average price in Dum Dum currently stands at Rs 3206 per sq ft, a dip of 5 per cent as compared to the previous quarter which stood at Rs 3376 per sq ft. This means that while a 1000-sq-ft apartment would have been priced at approximately Rs 34 lakh previously, the current value would be Rs 32 lakh.

Nilu says that since Dum Dum doesn't face any of the government-induced pressures, the area has also been of interest for the NRI investors.

Moreover, unlike most parts of Kolkata, the return on investment is also high. A lot of NRIs have invested in properties worth Rs 70 lakh - Rs 1 crore and slightly above. These premium residential complexes are well-equipped with gardens, swimming pools, children's recreational area and shopping complexes. The local population has shown a growing interest in 2BHKs priced between 20-30 lakh and 3BHKs priced between 30-45 lakh.

The rental business, however, is not at its peak but it is not slack either since a part of the population living here in rented accommodation feels that it would be a wiser idea to put in the Rs 7000-Rs 8000 as EMIs for a permanent accommodation rather than a rented one and buyers in Kolkata have varying alternatives to choose from as the bulk of the real estate market offers properties priced at Rs 2500 per sq ft - Rs 6500 per sq ft.

B Bhattarcharya of Riddhi International operating out of Dum Dum says that the area is catching up as a retired community-friendly location with old age homes, health clubs and medical facilities round the corner. Raghav from Raghav Realty says that Kolkata is the hub of warm people who sit over a cup of tea and intellectual addabaazi and Nilu feels that Dum Dum offers a range of such activities for the senior citizens.
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