Low Cost Housing in Kolkata
Kolkata is another huge metropolitan city of India. It is also the foremost city in India to have large number cheaper housing units. The low cost housing in India-Kolkata is therefore very much in demand especially among the middle-class people, migrant laborers in the state, and working professionals who prefer rentals flat to ownership homes. This is mainly because the cost of land in and around Kolkata has shot up rapidly in recent years. Another important feature of the real estate market in Kolkata is that there the flat and estate culture is growing. South Kolkata has experienced a boom in number of apartments, office buildings, shopping malls, and educational institutes that were constructed from 2000-2009. Residential complexes though came to be costlier because of the all-inclusive facilities and their excellent locations. The housing market that saw a steep fall in prices and the number of buyers and sellers came back with a bounce. Low cost locations in Kolkata are particularly the northern region.
Commercial low cost housing in Kolkata
The prime locations for offices are in the areas adjoining the Howrah Station, Dalhousie, Park Street, Theatre Road, and Minto Park. Several MNCs and government sector offices, and private banks operate on old buildings on rent. They are termed as Heritage Buildings. The either operate on rental basis payable every month or on the basis of leased out amounts. Educational institutes also hire space for classes even on weekends. Down south a educational institute would roughly need to pay Rs 4,500 to 5,500 for a three room coaching class up to 800 square feet every month. Cheap property in Kolkata maybe leashed out for office space. Office space that are on rent with parking facility, meeting rooms, and party halls with above 100 seats for employees are mostly have deal with the owner for yearly payments that may vary from 20 lakhs- 25 lakhs including maintenance costs. Cheaper places for opening call centres can be near the EM Bypass, Sealdah, MG Road, and Park Circus. Second floor and third floor office space cost more than those on eighth and above.
Low cost residential housing in Kolkata
The great push came for affordable housing in Kolkata once the middle class and the lower income group started facing problems because of the rising prices of homes and land. Back in 1996, several initiatives by the west Bengal government for rural development introduced cheap housing projects in Kolkata but that could hardly meet the housing needs. The biggest housing project for Bengal is deemed to come up on 150 acres at Rajarhat. The Shapoorji Pallonji & Co, one of India's oldest construction companies, has decided to build 20,000 apartments exclusively for the LIG and MIG segments at Action Area-III in New Town, by 2010.
The Salt Lake City- especially the Sectors 1 and Sector 2 and areas around the Kolkata International Airport have exclusive residential outlets that are considered expensive by most. Low costing areas would instead be the places adjoining the city limits like Bypass- Near Ruby Hospital, North 24 Parganas of Garia, Narendrapur, and Sonarpur. A two bedroom with Kitchen flat in these areas for ownership will range between 12 lakhs to 16 lakhs. If you are opting to lodge beside the South City Mall one of the sought after location presently in Kolkata they will not be less than 25 lakhs with a minimum of 850 square feet.