Sale Property in Kolkata: Apartment vs Villa vs Plot
By Pratik Balasaria

When deciding which for sale property in Kolkata to buy, there are many considerations to keep in mind. But one of the first things to decide is what kind of property you want. The three basic options available in Kolkata are apartment, villa, and plot. All three appeal to different kinds of buyers for different reasons. 

The major consideration when trying to pick a for sale property in Kolkata is whether it is for your end-use or for investment purposes. Different kinds of properties have different returns on investment (ROI) for their buyers. For example, an apartment is the most in-demand type of property in Kolkata, which means that it is the easiest to sell. But a plot of land will be the most profitable for long term investments, although it is very expensive to buy. 

The three types of properties (apartments, villas, and plots) and their pros and cons are discussed in more detail below:

Apartments in Kolkata

Sale Property in Kolkata: apartments in kolkata

Apartments or flats in Kolkata are the preferred real estate investment destination for most city dwellers. When you buy one or more flats for sale in Kolkata in one of the city’s premier housing complexes, you gain access to a superior way of life. Here’s a list of the most coveted existing and upcoming residential projects in Kolkata:

  1. Navyom : Features 4BHK & 5BHK duplex ready to move in flats in Kolkata at New Alipore.
  2. Aurus : Features 3BHK, 4BHK & 5BHK ready to move in flats in Kolkata at EM Bypass.
  3. Vyom : Features 3BHK & 4BHK ready to move in flats in Kolkata at New Alipore.
  4. Panache : Features 3BHK ready to move in flats in Kolkata at Salt Lake City.
  5. Amistad: Features under-construction 3BHK flats in New Town.
  6. Anassa: Features under-construction 4BHK & 5BHK in Em Bypass
  7. Jiva: Features under-construction 3BHK & 4BHK flats in Phoolbagan-Beliaghata.
  8. Majhergaon: Features under-construction 2BHK & 3BHK flats in Madhamgram.
  9. One10: Features under-construction 2BHK & 3BHK flats in New Town.
  10. The 102: Features under-construction 2BHK & 3BHK flats in Joka.
  11. The Soul: Features under-construction 2BHK, 3BHK & 4BHK flats in New Town.

Why buy an apartment in Kolkata?

Apartments or flats in Kolkata are the most popular option available among all for sale property in Kolkata these days. There are several reasons for this. One reason is security. Many people with young families or those living with the elderly prefer to live in a gated community with security measures provided. The other reason is the amenities. These days most flats in Kolkata for sale come with a host of modern amenities that make life convenient and comfortable. These range from gyms and swimming pools to landscaped gardens and walking trails. The more recreation and entertainment options available in your backyard, the less inclined you will be to travel within the city to look for them. The third reason is that in most modern developments, water and electricity supply issues are taken care of by the developer. So is the maintenance of the buildings. 

The trade-off that you have to make in case you buy an apartment though, is that they are not as customizable to your needs. But currently, Kolkata is experiencing a real estate boom with a lot of new residential apartment properties coming up in various parts of the city. This means that you will have plenty of options for choosing your ideal home depending upon your configuration, location, and budget. 

Buying an apartment in Kolkata for Investment

When looking at it from an investment point of view, an apartment is a more sensible option than an independent house because the demand for an apartment is more. For the same reasons listed above that make having an apartment a good option for living yourself, apartments are in great demand by young families. Thus, one approach would be to buy an apartment that is under construction and then resell it when it is ready for possession and the price has appreciated above your buying price. This will yield a handsome return on investment (ROI).

The apartment can also be put on rent since there is a lot of demand from renters who may not be able to buy flats in Kolkata, due to the nature of their stay in the city. Rental income will be useful in paying off your loan EMIs in case you buy the apartment with a housing loan.

A couple of things to keep in mind when purchasing an apartment for investment purposes are location and configuration. Choose a location that is in high demand or an upcoming location where demand has not peaked yet. Good connectivity by road and metro will be a bonus. The most popular configurations for apartments are 3BHK apartments.

Although apartments are the easiest to resell, the con in reselling an apartment is that its value does not appreciate as much as the value of a plot of land.

Tax implications for apartments in Kolkata

Buying an apartment for self-use entitles you to a tax deduction.  You can also get tax benefits on your home loan. But money earned from putting your apartment on rent is considered income and is taxable.

Buying a Villa or Independent House in Kolkata

Sale Property in Kolkata: villas or independent house

Ask any Kolkatian about their real estate aspirations and they will tell you how they hope to buy Independent Houses or Villas in Kolkata in the localities of Ballygunge, Sarat Bose Road or Alipore. Standalone houses in Kolkata in these coveted locations constitute some of the most eye-catching real estate in Kolkata. If you are looking to buy an independent house, don’t make these mistakes.

Why buy a villa?

Independent houses or villas in Kolkata are preferred by those who want the privacy and space of their own independent living unit. There is also increasing popularity of villas for sale in Kolkata inside the gated community offered by different developers.  

Investment perspective

Since independent villas are not in as much demand as apartments, their appreciation is not as high. They are also harder to resell because their prices are much higher than flats. Rent for villas is also usually on the higher side. So it can be harder to find tenants for villas for rent in Kolkata.

Tax implications

To buy villas in Kolkata for self-use you get a tax deduction.  You can also get tax benefits on your home loan. But money earned from putting your villa on rent is considered income and is taxable.

Buying a Plot in Kolkata

Sale Property in Kolkata: plot

A plot of land is usually preferred by people who want to build their dream house from scratch. It is also preferred by investors because it has the highest return on investment by resale among all three options for properties in Kolkata.

Why buy a plot?

A plot of land is usually preferred by people who want to build their dream house from scratch. It is also preferred by investors because it has the highest return on investment by resale among all three options for properties in Kolkata.

Constructing a house on an empty plot of land is a very expensive and time-consuming affair that might involve legal and municipal issues as well. Hence, for most people, the hassle is not worth it. Loans offered by banks for plots have stricter terms and conditions than those for buying constructed homes. The maximum loan limit is also lesser. This means that purchasing a plot to build a residence is a very expensive affair and usually undertaken by people who can afford it without loans. 

The positives of buying your plot of land are the customization and freedom it gives you to construct your home as per your liking. There is also the added bonus of having your own space and privacy.

Investment perspective

Since a plot of land cannot be put for rent, the only investment opportunity is reselling it at a later date. In the case of reselling, plots are the most lucrative of all three options because land appreciates at a much faster rate than constructed buildings. So from that perspective, buying a plot of land can be very profitable. 

Tax implications

Buying a plot of land does not entitle you to any tax exemptions. Tax deductions will only apply when a house is constructed on the plot, and even then it will only be applicable for the loan amount taken against the construction. Additionally, in case more than 500 square meters of land is kept vacant, it will attract a wealth tax. As such, there are no tax benefits to buying a plot.

Conclusion

It is easy to see why people who are trying to decide which kind of for sale property in Kolkata will suit them best get confused when they look at the options. There are so many things to consider! But hopefully, this essay will help you narrow down your search. Once you decide your objective and purpose in purchasing property, it will be easier to pick one of the three. Whether it is land, apartments, or villas for sale in Kolkata, we’re confident you’ll find your perfect fit.

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