Residential Destination in Kolkata: Garia

Residential Real Estate in Kolkata is emerging with new localities adding to the list of properties for sale. With high demand of residential realty, even the resale flats in Kolkata are getting attracted. One of the localities in the city homebuyers are eyeing is Garia. This growing South Kolkata locality is attracting homebuyers and realty investors. 

The residential property rates of Garia are low as compared to other areas of Kolkata. This locality mostly comprises of apartments. Moreover, most of the apartments are not high-rise and mostly have sixth or seventh floors. Well-known city based builders are launching new housing projects in this locality. Some prominent names are Millennium Group, Roy Constructions, Taurus and Jeet Constructions. 

Infrastructural developments in the locality are a chief reason for buyers to put money here. Another reason for realty buyers to buy properties in Garia in Kolkata is the good connectivity it offers to other parts of the city. This small locality at the outskirts of Kolkata is gaining popularity. 

Reasons for Buying Properties in Kolkata’s Garia 

Low Property Prices

Infrastructural Development on a large scale

Good Communication and Easy Accessibility

The adjoining localities of Garia such as Jadavpur, Nagatala and Nayabad have long being established. These residential areas offer modern designed high-rise apartments. Buildings with 15-22 floors are common here. There is also growing market of resale flats in Kolkata in the above-mentioned localities. Prices of these residential areas whether for new properties or resale flats are much higher than in Garia. 

Prevailing rates of flats in Kolkata in the Garia area varies and usually ranges between Rs 3500-4200 per sq ft. For the same size of apartments in Jadavpur, the buyer will have to Rs 1000-2000 per sq ft more. 

Gurgaon Properties Command Highest Property Prices

The Realty boom in India has improved the infrastructure of many small towns. Cities like Gurgaon have benefited tremendously from the real estate India’s growth. From being a sleepy little town, the city is the next realty destination in India. Surveys on commercial and residential real estate have showed that Gurgaon have topped the charts in highest demand of realty units in the country.

Gurgaon is expecting rising demands in all the segments of realty including residential and commercial. Out of the total demand of 10.2 lakh residential units in Delhi-NCR belt, the maximum demand is for Gurgaon. Delhi-CR belt comprises of Noida, Greater Noida, Faridabad and Greater Faridabad, Ghaziabad and Gurgaon. 

Property developers and builders are concentrating on new projects based in the city. Improved infrastructure and better transportation in the city are reasons attracting property developers in Gurgaon. Most of the companies are opening offices in the city. Good connectivity to Delhi is another strong reason for property developers flocking to this realty destination. 

Forthcoming projects in Gurgaon include some big name in the Indian real estate. High-end residential projects are attracting home buyers. Realty experts feel that Gurgaon is registering the fastest growth among the property destinations in Delhi-NCR. Properties in Gurgaon command steep prices with a 3 Bhk apartment in Gurgaon charging not less than 40 lakhs INR. 

Well-known property developers in Gurgaon are adding new projects with a variety of amenities. 

Some prominent names of property developers are as follows: 

         ·            DLF

         ·            Unitech

         ·            MGF EMAAR

         ·            CHD,

         ·            Chintels

         ·            Ansal

         ·            Orris

         ·            Antriksh

         ·            Assotech

         ·            Raheja Developers

Properties in Gurgaon by these developers are priced steep as they offer world class architecture and are trusted by homebuyers.

FDI in Multi-Brand Retail is a Good Signal for the Real Estate India

The debate of FDI continues with many supporting while others are not accepting the proposal. Many feel FDI introduction in the country will be a bad move. In the real estate sector, however, the experts feel that FDI will boost the retail segment in the country. The mall space will witness an increase in demand with the coming of FDI in the country. 

The commercial real estate India will gain from the government decision to allow FDI in the country. With boost in multi –brand retailing, there will be demand of more mall space in the country. Real estate experts feel that FDI introduction in the market will bring positivity. The chairperson of Jones Lang LaSalle, Anuj Puri feels that investment in retail will grow and subsequently there will be requirement of more mall space. This decision will help in the clearing the surplus of retail space which is at present available in the real estate India. 

Government is making operational 51% FDI in the multi brand retail. It is left to the state governments to further allow FDI in their respective states. Considering the present situation in the country, some states governments are allowing it while others are still pondering over the decision. Experts feel that FDI will bring the rural producers in direct contact with urban consumers and both will be benefitted from the same. The government has come with some rules and reforms related to FDI in India.

CREDAI, the chief organization of real estate developers and agents in the country, welcomed this move. Its president welcomed this move and said that this will bring new changes in Indian economy. He also added that FDI in multi-bran retail will provide employment to thousands in the country. This indirectly will create demand in residential real estate segment. 

Overall, real estate experts feel that with this move, the commercial real estate industry will benefit in the long run.

Apartments in Chennai

Chennai, the city soaked in cultural and tradition, is welcoming the changes in its society. And rapid industrialization and addition of various sectors in Chennai’s economy is making the city attractive to real estate investors. The numerous IT hubs coming up in the city has subsequently led to the demand of property. Real Estate Chennai saw the rise of residential and commercial segment. Apartments in Chennai near the office spaces are selling like hot cakes. 

The Government of Tamil Nadu started policies for the improvement of realty picture way back in 2005. It gave special importance to develop office realty focusing on the IT and ITES sectors. The IT corridor Project and the TIDEL Park are two good examples in this segment. Land prices in Chennai have gone up tremendously in the last few years as more offices spaces are coming up. Lack of space in Chennai is also forcing many developers to target destinations close to the city. The city of Madurai has seen many IT parks coming up. Most of these projects are close to the ring road and facilitates transportation. 

Another stretch is the Rajiv Gandhi Salai, which is between the Madhya Kailash Temple Junction and the Siruseri. This area also witnessed development of many IT parks. With many companies opening offices here, this stretch soon became the center of the IT revolution. 

The property developers are also coming with residential projects that are close to these office areas. National property developers and local builders are developing the areas and offering affordable as well luxurious apartments in Chennai. Mostly the buyers are from the IT companies, though others are also showing interest. These residential projects have all the modern amenities. Round the clock security and power back up features in almost all the residential projects coming up.