Looking for an affordable rental locality in Kolkata? Try Ballygunge
The true grit of the end-users to find the perfect home, has been the driving force of the real estate market at present. Regardless of the global economic meltdown, end-users of realty are still flocking to realty projects to rent a perfect home. Such a trend is highly visible in Kolkata and Ballygunge bears testimony to it. The premium locality of south Kolkata has registered a rising demand for rental housing in the present scenario.
Ballygunge, has transformed from a quiet neighborhood of 70s to a happening residential catchment of the ‘City of Joy’, boasting two significant shopping destinations-Gariahat Market and the Lake Market. In addition to it, the locality takes its pride in having the first high-rises of the metropolis. Strategically located on the south of the city, this upmarket is flanked by Kasba and the Eastern Railway’s south suburban line in the east, Dhakuria in the south, Park Circus in the north and Bhowanipore and Manoharpukur in the west.
Why the area is popular?
Highlighting the reasons for the growth of demand of the area, realty proponents quote that Ballygunge, in comparison to other areas is highly developed and equipped with basic amenities. Add to it, a robust public transport including metro and local trains, the locality fits the list of the tenants looking to rent an apartment in the area. Few good markets and renowned eateries make the area a popular place of choice.
One other reason for the development of the rental market of the neighborhood is the rising capital prices of properties in the area. On account of soaring property prices in the area, going out of the reach of the common man, only the upper-middle class and upper class can own a house in the locality. Hence, for others willing to dwell in the area, renting a property is the only option left.
The commercial aspect
Over the years, the area borne witness to a lot of commercial developments. With two major shopping destinations, the locality boasts of several big brands like Samsung, Titan, Sony, Raymonds, Bombay Dyeing, Tanishq, Park Avenue that have opened chic showrooms in the area. Not to speak of, the locality has several pockets of retail hub, which worth a special mention.
Thus, along with salaried professionals, families also rent properties in the area. Riding on this factor, the rental values of properties in the area has increased to six per cent in the last two quarters. Promising excellent connectivity from the Eastern Metropolitan (EM)
Bypass, the locality has upped its value with Metro connectivity. Taxi and bus services are also easily available from the area.
