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Indian Real Estate News : Kolkata
Own a home within Rs 10L near your workplace
Source: The Times of India Aug 20, 2014
If you wish to live near your workplace in Kolkata, you can now do so by just spending Rs 10 lakh or even less. How?
Let’s find out!

Spending Rs 10 lakh or even less can now get you a home in Rajarhat, the IT hub of Kolkata. As per data with Magicbricks, few developers in Rajarhat are coming up with residential projects that offer homes for Rs 10 lakh and less.

As Rajarhat has a strong presence of IT, it is good news for those looking to reside near their workplace. It would also be welcome news for those working in nearby locations of New Town and Salt Lake, also IT dominated areas.

The fact that professionals today increasingly prefer to live near their workplace was reinforced by a recent poll conducted by Magicbricks. As per the poll, nearly 50 per cent of the respondents said they wanted to reside within a walkable distance of their workplace, while more than 35 per cent said they would prefer to stay within half an hour of their office.

So, what is on offer in Rajarhat? Magicbricks data shows that one could only get a 1BHK in Rajarhat within the budget of Rs 10 lakh. In fact, to be more precise the projects offer 450-500 sq ft 1BHK apartments for Rs 8.5 lakh approximately. These are unfurnished units and all projects are under construction as of now. Most of these projects would be delivered within 2016-19.

“Developers are now targeting Rajarhat to launch affordable projects that would cater specifically to the low and middle income BPO professionals and government employees. This explains the large number of affordable projects coming up in this area,” states Saikat De, senior manager, Valuation & Advisory Services, Colliers International.

Even though these projects are low on price, these are definitely not low on amenities. Most of these projects come equipped with basic amenities such as a club house, swimming pool, gymnasium, vastu compliance and reserved parking.

It is generally observed that one needs to shell out huge sums of MONEY to be able to own a home near their workplace. Thus, these projects, situated at the heart of the IT hub in Kolkata, are a welcome change.

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