What Makes Kolkata's Tollygunge A Perfect Investment Destination
In a city as affordable as Kolkata, Tollygunge is one of those areas where the up-market lifestyle is available at a budget price. With well-developed infrastructure and job market in close proximity, Tollygunge has always remained at the top in the priority list of end-users as well as investors. Here are few more reasons that make Tollygunje one of the most preferred areas of the city.
Ample property options
According to data available with Proptiger, there are 93 projects available in the area, out of which 9 projects would be giving possession in the next three months and 11 projects would be available in next six months. Some of the reputed builders of the city are developing their residential projects here due to the availability of large tracts of land and redeveloping the old dilapidated bungalows to make way for high-rise buildings.
Varied budget range
Being one of the most developed localities in the city, Tollygunge offers properties in almost all budget ranges. A 1BHK is available at a starting cost of Rs 14 lakh whereas a 2BHK is available at a starting price of Rs 24 lakh. Similarly, a 3BHK option is available at a minimum price of Rs 40 lakh. The average spread area of 1BHK is 500 sq ft, 800 sq ft for a 2BHK and 1,500 sq ft for a 3BHK. A majority of these housing projects have all amenities to offer, including kids' play area, security assistance, swimming pool, parking etc. Some of the popular projects in the locality are Ideal Greens, Merlin One, Mani Enclave and Mani Vista. The starting price in these projects is Rs 4,900 per sq ft that can go up to Rs 8,000 per sq ft.
Return on investment
Investors might be pleased to invest here as the rental returns are healthy as compared to other nearby areas. A 1BHK property can be rented here for Rs 8,000 while a 2BHK can earn you at least Rs 15,000 monthly. Tollygunge witnessed consistent price movement in the past three years. The launch of luxury projects in the area is resulting in property price appreciation in past six months. Currently, the values here range between Rs 5,500-6,000 per sq ft.
Tollygunge is very well connected to the other parts of the city via bus, metro and cab services. Government and private bus lines are operational in this locality to connect it to other popular hubs of Kolkata including Park Street, Garia and Howrah. There are a number of reputed educational institutes in the area, making it one of the prominent hubs for students coming from nearby towns. The area is in the South of the city and has immense greenery to offer as it is located close to Asia's one of the biggest golf course club.