Future prospects of Salt lake Micro Market
Salt Lake also known as Bidhan Nagar is one of the most prominent real estate destinations in Kolkata today. The advantage is open spaces and well planned development away from the narrow lanes and congested traffic woes of central Kolkata. Even the most conservative estimates reveal a real possibility of getting 10-15% returns on year in these areas. Sector V of Salt Lake is the IT hub of the city and has a large number of multinational corporations located in the region.
Well developed social and civic infrastructure along with a presence of Nicco Park, one of the largest amusement parks in the city and Indian institute of Foreign Trade underlines the good growth story of the region. Built in a planned five phases or sectors, the first four sectors of Salt Lake are residential while the fifth sector is the main Information technology park of Kolkata housing a large number of Indian and multinationals. Who would have imagined that once swampy piece of land of Sal Lake region would witness such planned and well developed infrastructural growth.
Salt Lake has one of the most well planned townships being developed and the area overall has a great potential to give substantial short term and long term gains. The prices have almost doubled in the last five years. With IT hub being a certain positive factor, there is likely to be influx of a large number of working professionals which makes even renting out the apartment quite a lucrative option. The average price for a residential apartment in Salt Lake ranges between Rs. 3500 to Rs. 4500 per square feet. Prices for rentals for a 2 BHK apartment can fetch anywhere between Rs.10000 to Rs. 20000 per month.
The presence of pan India builders with good reputation has also helped local builders to provide equally good quality at a good price. Salt Lake micro market is expected to give very good returns over medium to long term while rental pricing are also quite lucrative.
