As we battle uncertainty after uncertainty in the years 2020 and 2021, we have come to realise that change is the only constant. The world has come to a screeching halt and people have realised that their health and wealth is of utmost importance. We have been forced to reside amidst the safety of our homes and this factor has taught us how important it is to own a comfortable apartment in places such as Kolkata.
Kolkata is a developing city with an influx of job opportunities. The City of Joy is almost at par with well developed IT cities such as Bangalore, Mumbai and Pune. The increase in job opportunities is encouraging people to step out of their suburban homes and shift to Kolkata, not just for better jobs, but also for a comfortable life. This leads us to the question:
Is buying a flat a good investment in Kolkata?
- With COVID affecting the restrictions on the movement of people, the real estate market around the country has been hampered. Due to this reason, many homebuyers have in turn delayed their purchases. This situation has now taken a different turn of events where the slowing demand has led to a wider variety of flats being available for sale in places such as North or South Kolkata. So, if you are looking for a flat, this is your chance to walk away with a lucrative residence which you can pick from a vast variety of projects.
- Developers have faced multiple challenges since last year, the main one being the economic slowdown and the demand for flats. This has acted as a double-edged sword as they are now forced to revise the payment schemes. Attractive offers are being released for flats in Kolkata. Pre-lockdown prices have been dropped and have given rise to an opportunity to buy your dream home at a much lesser rate. The current scenario has also given ample room for negotiation.
- These last couple of months have changed people’s entire routine as we stay at home and embrace the new normal. This meant that travelling to and fro to offices were halted and firms adopted the work-from-home regime. The importance of being restricted at home and working from home redefined the meaning of comfort. Amenities within one’s residential complex were suddenly considered a luxury that was a necessity.
The demand for being close to nature has also increased and this has seen a surge in Barrackpore riverside flats. Investing in a flat is ideal now as a plethora of new residences is offering amenities such as business lounges and so much more.
- Moving away from reasons related to the current situation, Kolkata now has a growing IT hub. Major Indian and international IT brands such as TCS, Wipro, HCL Technologies etc. have set up their business campus in this city. These IT giants have given employment opportunities to a few lakhs of people.
This number will grow in the coming years and the demand for flats is bound to increase. Hence, securing a flat in this city now will benefit you immensely as the growth of businesses and demand for real estate residences continues.
- The extension of the IT sector in Kolkata and surrounding areas such as New Town, Barrackpore etc. has a ripple-like effect. The flourishing of the business sector is encouraging the government to keep up with growth in other sectors and places. For instance, to accommodate better travelling for daily commuters there has been an extension of the East-West Metro route. This form of development will continue and the benefits will indeed improve the quality of life for citizens in Kolkata. This is precisely why one should buy a home in Kolkata or adjacent areas like Barrackpore.
- Another reason to purchase an apartment in Kolkata is because of the ease of transportation. The city has well-connected roads that are traversed daily by thousands of dwellers. The transportation consists of buses, cabs, autos, metros and railways which is a major lifeline for those travelling from far. Using these well-connected roads helps move from one end of the city to the other with ease.
The value of owning a home cannot be underestimated. While one can always choose from many other regions, a home in Kolkata will offer you an unmatched sense of comfort and stability. So don’t wait any longer and purchase your flat in this city today!