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Indian Real Estate News
Kolkata: Property values rise by Rs 1. 5 lakh in 6 months
Source: The Times of India Mar 25, 2014
Peripheral locations like Madhyamgram in Kolkata are witnessing an upward value trend though still supporting the 'affordable' tag.

Kolkata’s real estate has been stable for a long time with no major fluctuation in prices.  Of late,  the investment scenario has highlighted noticeable changes.  Magicbricks. com reports rising price trends in Madhyamgram.  What stood at Rs 2, 500 per sq ft six months back has seen an increase to Rs 2, 650 per sq ft.  Options include a varying range of 2BHK configurations having an area of 550-1100 sq ft which is now available within Rs 14-26 lakh.  Apartments of 3BHK configuration start at Rs 28 lakh for an 1100 sq ft area to Rs 33 lakh for a 1320 sq ft area.

What pushes the property prices in this area? "Major developers like the Merlin Group,  Jain Group and the Diamond Group have taken a keen interest in and around Madhyamgram",  says Tanushree Mangalnath,  owner,  Home Plus Associates,  prompting growth of this area.  She links the fast paced growth to the infrastructure,  both physical and social,  that Madhyamgram provides like schools and colleges,  connectivity,  bazaars including an upcoming one called the Panthapadap Mall and proximity to all major landmarks in Kolkata.  These infrastructure prospects in Madhyamgram earmark this destination as having a potential for growth.

P Chaudhary of Beyond Bricks Realty also informs that while a good return on investment might be a "fifty-fifty" chance,  Madhyamgram would definitely yield as a self-sufficient housing locality.  Wreetaban Sen,  owner,  Invest Asia,  talks of how potential homebuyers are shifting their attention to Madhyamgram because areas like Rajarhat have become comparatively expensive,  where the average price is Rs 3, 700 per sq ft.  Sen also points out that while most buyers prefer investing in Madhyamgram than opting for rented accommodation in the area,  the return on investment would be better in the southern localities like Garia than those in the northern part of Kolkata.

Madhyamgram boasts of a serene environment,  away from the hustle of the city and yet not depriving one of connectivity and convenience.  A well laid road and rail network connects Madhyamgram to all prominent landmarks.  While the airport is just 8-km from Madhyamgram,  the rail network links this area to prime locations like Barasat,  Rajarhat,  New Town,  Park Circus and Sealdah among others.  During peak office hours,  air conditioned Volvo buses are also available.  A new concept of cycle vans further provides alternate options.  The proposed East-West Metro is said to enhance the connectivity of the area.

Given the connectivity and future prospects in terms of physical infrastructure,  Madhyamgram seemingly is a viable option.
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