Over 250 Luxury Homes Are Up For Grabs In Kolkata's Plush Localities

Garia, Elgin, Ballygunje, Topsia, Tangra, Alipore and Kankurgachi — there is a reason why you will invariably hear these names every time one speaks of real estate in Kolkata, the capital of West Bengal. These localities are well-known for their high-end and branded constructions and buyers can not get enough of them. While newer areas are opening up to luxe residences, the older parts of the city such as Ballygunje, Prince Anwar Shah Road and Alipore have always been known for its wealth of spacious homes. In fact, Alipore and Ballygunje feature among the top-20 plush localities in the country.

A league of its own

When we talk about the rich metros of India, you may name Mumbai, Bengaluru, Delhi. You aren't wrong. But, here is the news — the latest New World Wealth Report indicated that there are more millionaires in Kolkata (9,600) than Bengaluru (7,700), Hyderabad (9,000), Pune (4,500), Chennai (6,600) and Gurgaon (4,000). Although, the City of Joy doesn't score a similar distinction when it comes to the number of billionaires, we know Kolkata is in a league of its own.

Also read: Monthly Watch: Home Sales Dip 4% In Kolkata

What's up?

According to PropTigerDataLabs figures, over 250 units across the city are priced in the range of Rs 1 crore and above. Browse through them here. These may be in different configurations — 3BHK, 4BHK or 5BHK units. However, there are instances of 1BHK and 2BHK units priced in the range of Rs 70 lakh to Rs 95 lakh, too, and constitute the luxury segment. Sizes of these units may vary from 1,800 to 6,000 sq ft.

All these homes boast the finest fittings and flooring and developers are flexible about the payment plans. Multipurpose rooms, children's parks, jogging tracks and landscaped gardens, club houses, round-the-clock security systems, swimming pools, in-house gymnasiums, rainwater-harvesting systems, gaming areas, power back-up facilities, parking for residents and visitors are some of the common amenities in these high-end projects. You can also expect other features such as water-filtration plants, facility-management services, solar-lighting systems, pet-friendly zones, sky plex, cafés and party areas, fire-fighting system, smoke detectors, video doors, meditation centres, ramps for those with special needs, etc. You can also compare projects on PropTiger.com. Click here.

The ground reality

In April 2013, average land value in Kolkata stood at Rs 3,977 per sqft. At Rs 4,052 per sq ft, the next peak point arrived over a year later—in October 2014. There hasn't been much action since as far as prices are concerned. At present, average prices stand at Rs 3,874 per sq ft. The good news is that if you have delayed a purchase all these years, you haven't lost much. In fact, you now have more choices floating in the market at almost discounted rates. Tempted to explore? Well, New Town, Sonarpur, Rajarhat, Garia, Mukundapur and Sodepur are the popular localities for investment at the moment. Click to see the best projects to invest in Kolkata.