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Kolkata has always been seen as a storehouse of culture backed by popular medical centres, retail chains and educational institutions. To most, it embodies the true feeling of ‘home’ which is why people are often drawn to the City of Joy. And ironically, residential projects in Kolkata are always favoured when it comes to owning a modern apartment at an affordable rate today!
Real estate can be used as a very good means of generating passive income. Here’s why.
Rental income as a passive source
Great locations promise great ROI
Higher returns through capital appreciation
Real estate serves as a collateral
Builds equity for the future
Long terms financial security
Of course, investing in real estate is a great way to safeguard your money and utilize it in a safe, profitable manner. Whether personal use or as an investment property, both will churn out great benefits down the line (based on the neighbourhood you choose and the best real estate company in Kolkata you choose to place your faith in).
But why choose Kolkata as a destination?
Here are a few concrete reasons why you should consider investing in this City of Joy.
Why Invest in Kolkata’s Real Estate Scenario
More lucrative down the line
Several infrastructural developmental activities and upcoming residential projects in Kolkata make Kolkata a great destination for investments in the real estate industry. New flyovers (eg: Ma flyover), development of the suburbs, the extension of the metro facilities and better road conditions and connectivity add value to investing in this sector. At the same time, it is a profitable venture where you can earn more through appreciation or rental income as well.
Tangible, permanent asset
The new investment gives you two options to choose from, rent it out for passive income or call it your home. With the large number of projects emerging from several corners of the city (like apartments in Barasat), you can expect an upgraded standard of living at an affordable rate. Since the Coronavirus pandemic has thrown light on the need for personal safety, living in a safe, gated community with your family has been the need of hour and buying a property during such time can be the best investment you can make.
Popular builders across Kolkata
The best real estate companies in Kolkata like Fortune Realty provide great benefits like _____ to investors. Esteemed builders of Kolkata are busy contributing to the advancement of the City. Furthermore, regulatory acts like RERA and HIRA ensure uniformity and prevent malpractice. This has led to more transparency and accountability on the builder’s part – making real estate a safe, profitable investment today.
More NRI interest and investments
Technology has bridged the gap between nations and NRIs are capitalizing on the benefits of investment in this sector. Through virtual walkthroughs and site visits, we can see an increase in engagement in this industry. In fact, statistics show that there was a 254% increase in inquiries for ready housing projects in Kolkata since March 2020. This demand for a native home is another reason that proves Kolkata’s real estate market is still going strong and this industry is still worth investing in.
Better circumstances and deals
It has been observed that during pandemic there has been a boom in the real estate market. The lockdown has experienced a period of uncertainty but for real estate it has proved to provide opportunities for investment and a secured future. Bringing forward conditions that are ideal for home buyers, here are some of the reasons why investing now will prove to be a smart choice:
Lower home loan interest rates
Added freebies when buying a home
Lower GST rates for properties
Discounts available on stamp duty
Relatively lower property rates
Did you know that this period has witnessed the cheapest home loan rates in decades? It has a current average of 7.15% to 7.8% and is further amplified by incentives provided by builders through remarkable offers and attractive payment schemes. Those in search of affordable flats in Kolkata will now be able to secure the best deal for making dreams of homeownership come true!
With every condition in your favour, now is the right time to invest in a new residential apartment in the heart of the City of Joy today!