There is a consistent demand for the affordable real estate property in Kolkata, however,
throughout the entire year, the sale of this segment was not been satisfactory.
The sales figure dropped significantly by 15%. and about 37,000 to 40,000 units
remained unsold. Out of this unsold inventory, the major contributor was the
low priced houses. Almost all the major players of the real estate market
launched new projects in and around Kolkata with an area of 500-700 square
feets, however; sadly most of them remained unsold.
To make the situation better builders are coming up with some very
unique ideas like-
- Easy down payment options
- Easy financing
There several new housing schemes which are launched and the
prominent among these is Amrit Awas Yojana. Let us explore some more details
about this scheme-
Amrit Awas and Abasan
Amrit Awas and Abasan are launched by the BGA realtors who aim to
provide affordable houses in Kolkata. There are 154 units planned for Amrit
Awas and 240 units for Abasan. Both these projects are coming up in Sonarpur
and under this project if the customer pays the full cost of the project apart
from the extra delivery charges within one month of the booking date, then the
BGA realtor would continue paying 8.5% interest per annum to the customer. This
new project by the BGA realtor will surely help the residential projects in Kolkata to
grow.
During the last six months, there have been multiple project
launches in Kolkata which were priced at Rs.30 lakhs and most of the projects
are restricted in the southern extension of the city namely Garia, Narenderpur
and other parts of the EM bypass. Some of the projects are also coming up in
the northern part of the city like Dum Dum,Sodepur, BT road and Jessore road.
Apart from these Rajarhat has been the popular destination for the real estate
developers. The south, eastern and central Kolkata saw marginal development in
the past year.
The city of Kolkata and the peripheral areas has witnessed several
new lunches in the affordable segment in the year 2016.The residential property in Kolkata were
lunched in the size of 500-700 square feet and the price of the units was
between Rs.2,500 and Rs. 3,000 per square feet. Most of the builders have
speculative during the year; however, the situation will soon be better.
