Sagnik has been living on rent at an apartment in Nagerbazar for about five years. But he is not happy for various reasons.
Sagnik, a bank officer, wants to buy an apartment and settle down with his long-time girlfriend, Neera.
Neither Neera nor Sagnik wants to buy an apartment in Nagerbazar.
They have been actively looking at several apartment projects at different locations.
However, they were not able to make up their mind.
They don’t mind buying a flat anywhere in Kolkata, but the location must meet certain criteria.
This is when they talked to us and understood why they must choose an upcoming area in Kolkata to buy a flat.
If you are considering buying an apartment in Kolkata in 2025, you should also do the same.
In the next few minutes, we will share why you must buy an apartment in an upcoming area in Kolkata.
Keep reading.
Interplay of Market Forces In the Property Market
The demand in the property market is skewed toward certain locations. This creates a massive demand-supply gap in these locations.
Homebuyers are often ready to pay a premium for properties in these upscale locations.
So, what happens when the competition heats up for new areas? Progress gradually spreads to these upcoming places, raising demand and prices in those areas as well.
Most likely, there are more choices in areas that are still being developed.
Present and Future Infrastructure
There are a few reasons why homebuyers invest in a property in an upcoming area in Kolkata.
They are:
- Prices are comparatively low
- Expectation of a higher return on investment
- Sprawling gated communities with various amenities
Several upcoming areas in Kolkata are witnessing rapid infrastructure development. Once the area’s infrastructure and living situations improve, more people will want to buy property there and live there.
For example, the Metro network in Kolkata is spreading fast, and many upcoming areas will experience better connectivity soon.
This is also creating real estate hotspots in these areas. Very soon, these upcoming areas will transform into upscale or established areas.
Quality of Life and the Community Vibes
The majority of a city’s emerging neighborhoods strive for greater prominence. They are influenced by the wealthier neighborhoods and are encouraged to live in better conditions.
The positive aspect of the upcoming areas is ample land availability. Compared to the central part of the city, these upcoming areas have relatively large projects with landscaping and outdoor amenities.
This creates a vibrant community that is more interested in outdoor activities.
Why Connectivity is Vital
The real estate value of a city’s outlying areas can increase if there are adequate transportation connections. It is also vital to be close to the major business and commercial sectors.
The opening of a Metro route also increases demand for local housing and business buildings. As the population grows, more office and retail space becomes available, which in turn spurs economic growth.
In Kolkata, Metro connectivity has transformed quite a few localities.
For example, areas near Garia have experienced major transformation after the Metro network extended up to Garia.
Apart from the Metro network, new roads (even widening of roads), hospitals, shopping centres, and educational institutions in an area help real estate growth in an upcoming locality.
It is expected that areas around Howrah will also experience a similar phenomenon.
One good example is the Southern Bypass area, which witnessed huge property demand after the road was operational.
Do Not Neglect the ROI
A property in an upcoming area is also lucrative for investment.
Upcoming areas are absorbed by the city proper as infrastructure growth gathers momentum. Infrastructure growth is a key catalyst for brisk urbanization.
Let’s look at a few examples here.
Areas such as Garia, Behala, BT Road, and New Town were considered upcoming areas only a few years ago.
Property prices in these areas were much lower at that time.
Now, they are highly preferred locations for buying a property in Kolkata. Property prices have kept pace with the hike in demand.
Early investors who bought properties in these areas have handsomely gained.
The Last Word
The fast pace of urbanization is changing the upcoming areas in a matter of a few years into highly desired property hotspots.
The betterment of infrastructure, connectivity, and the livability quotient is attracting discerning homebuyers to purchase properties in these areas.
As more and more such areas open up for organized real estate development, there will be a rush of young homebuyers to buy homes.
If you are looking to invest in a home that has the potential for substantial price escalation, contact us today for a consultation.
