High demand for affordable residential plots in Kolkata

Investing in plotted land seems to be the new fad among buyers in Kolkata. There is increasing demand for affordable residential plots in the ‘City of Joy.’ Amongst the different areas having plotted developments, buyers are mostly tilting towards areas along the Western and South-western parts of the city.

So what is driving demand for plots along the West and South-west parts of Kolkata?

This is mainly due to the availability of large land parcels as well as the affordability that plotted land in these areas offers.

Maximum Availability in West Kolkata

Compared to most other localities, the western part of the city has the maximum availability for plotted land. Amtala, Pailan, Joka, Thakurpukur and Rajarhat are some of the areas in this region where there are large parcels of plotted land available. This has resulted in buyers having various options to choose from.

Prices of plotted land

Currently, the plot prices in these localities range between Rs.500-2000 per sq.ft, depending on the infrastructure and connectivity along these areas. It is expected that the prices in these localities would move upward due to the metro link work between Joka and Tollygunge being undertaken.

Rate of appreciation

It has been seen that plot prices along the metro link areas have increased by 15-25% in the past few months. However, due to the availability of large land parcels here, the prices are still quite affordable. But prices are expected to appreciate even further. At current prices, buyers can purchase plotted land of between 3000 and 5000 sq.ft area, within an affordable budget of Rs.10-15 lakhs in many areas in west Kolkata like Joka, Amtala and Pailan.

Metro link

The upcoming metro link connecting Joka with Tollygunge is expected to give a further fillip to areas along this western corridor, thereby resulting in considerable appreciation in prices, once operational.

Other areas

Areas on the southern part of the city like Baruipur, Diamond Harbour Road and Garia are also renowned for affordable residential plots.  There are plots in these areas ranging in size from 1500-3000 sq.ft. Prices range between Rs.5-20 lakh, depending on the plot size as well as the infrastructure and connectivity in the area.