Top 4 Reasons To Invest In Real Estate Projects In Kolkata

4 reasons to buy residential properties in Kolkata Now

In India, real estate is considered the most profitable investment. If you are planning to buy residential flats in Kolkata, you can come across a wide range of housing projects. Though at present the socio-economic situation in India, the real estate industry has been plunged into diminishing demand in Kolkata, the rate of real estate is still considered as a good investment. Still not convinced? Here we give you five reasons for why you should invest in real estate projects in Kolkata: 

Availability of Properties 

In the last three years, the real estate development in Kolkata has been spiked up the growth of 30%. Various residential structures in standard suburban areas are emerging with the demand of the consumers. If you are planning to buy residential flats in Kolkata, it is high time to invest in your locality.

Development of the Suburbs

Kolkata, the city of joy is continuously expanding. With improving infrastructure and connectivity, real estate developers in Kolkata are mapping new areas such as Rajarhat, Barasat, and Uttarpara. Though in the past few years, those areas are underdeveloped and the realtors, with the increasing demands of the residential projects, find those areas ideal for new constructions. 

Affordable Property Prices

If you planning for a good investment, the real estate in India has become the most affordable rather than other metro cities such as Mumbai or New Delhi. Even the returns are much promising in Kolkata. Naturally, many realtors are inclined to develop new projects in Kolkata.

The chances of Price Escalation

Properties in newly developed areas such as Rajarhat and Newtown have greater chances of price escalation. Here you can pay then token money initially and pay the rest after the possession. But ensure that you should between the lines of the clause you sign. If you purchase the property in some particular areas and know whether those areas have the scope of the infrastructural development, the price escalation in the future will be boon for you.  

The bottom line is – if you are planning for investment in real estate projects in Kolkatathis is the high time to purchase a property for the future. In the present socio-economic situation, financial sectors are encouraging buyers to invest in properties. The interest rate for the home loan is plunging low. Comparing to the other metro cities, Kolkata is always on the lower side in terms of the cost of living. Brick up a concrete decision and scrutiny your investment with microscopic analysis and don’t miss the right time to invest in real estate projects in Kolkata.

5 Essential Factors You Must Know Before Investing In Real Estate Projects in Kolkata

Buy Residential Properties in Kolkata, JJ Properties

Investing for real estate projects in Kolkata is a very crucial decision of your life. You may have invested money from a very early age to buy residential flats in Kolkata. Years of saving your hard-earned money with be waiting for the right decision of investment. When you are planning to buy residential flat in Kolkata, you must understand the pros and cons of the real estate location for which you are investing. It is better to scrutiny all the possible factors before you leap and make a decision. Apart from the legal factors, financial clauses are equally important, if you are planning for a bank loan to invest in real estate projects in Kolkata. 

Let’s discover top 5 essential factors for Real estate projects in Kolkata – 

Property Price:

Buy Residential Properties in Kolkata, JJ Properties

The first step is to fix a budget before you are planning for a property. It will be easier to shortlist when you have the amount in mind. First, compare the property around you and get a list of the quotation from the builders. With the comparative price listing from various sources of the property, you can have a clear idea about the compatibility of your estimated budget and the market reality in real estate projects in Kolkata.

Flat’s Carpet Area and Land Record:

Buy Residential Properties in Kolkata, JJ Properties

The area of a property consists of super-built up area including shafts, elevator space, stairs, the thickness of walls and others. The carpet area is the real area in between the walls inside your home. The land is equally crucial. You must consult an expert on soil quality of the construction. It determines the life of the property.

Legal Check of Property:

Buy Residential Properties in Kolkata, JJ Properties

You must ensure that the property is legally authorized on the constructed plot. You have to double-check whether your property builder has the NOCs from Area development authorities, water supply, and sewage boards, electricity boards and Municipal Corporation. For the case of a home loan, the bank will check on your behalf.

Builder-Buyer Agreement:

As you have finalized a flat, you must have paid advance money as the token amount and in return, the seller will offer you an allotment letter. Then, a tripartite agreement is signed and accepted among the buyer, the bank and the builder for the rest of the amount. Ensure that you have read all the clauses and terms before you sign on the paper.

Hidden and Additional Charges:

Read all the documents carefully to avoid any hidden clause. The builder is required to pay you a monthly penalty in case you do not receive the flat’s possession within the grace period. When you are purchasing and registering a flat, other expenses such as GST, stamp duty, home loan processing fee, registration charges, and all other charges should also be kept in mind.