Increasing Demand of Flat in Kolkata in 2021
By Pratik Balasaria

The past few decades has witnessed a healthy demand for housing in real estate Kolkata. Homebuyers today are embracing the lifestyle of wholesome living, cutting out upgradation work for developers. Upcoming residential properties in Kolkata today are equipped with wellness amenities living up to the lifestyle demands of the homebuyers. State-of-the-art sport facilities, jogging tracks, spacious meditation rooms, and plenty of open spaces have become common in gated communities and townships. In-built wellness amenities in flats have gotten a boost during the pandemic which has become a major driving factor for homebuyers to prefer buying a flat. 

Push factors that propel demand for flats in Kolkata

Flat in Kolkata
  • Kolkata lives up to the reputation of being a resilient city. 
  • Affordability is at its best in comparison to other urban metro cities such as Delhi, Mumbai, Hyderabad, and Bangalore. 
  • The new norm of work-from-home is fostering demand for flats in Kolkata 
  • COVID-19 pandemic and the necessity to stay at home has lead many homebuyers to upgrade homes. 

If you are looking for a flat in Kolkata, we have got you covered. Our exhaustive guide will answer all your questions about choosing the best flat for sale in Kolkata. Let’s begin—

Top things to consider before buying a flat

Flat in Kolkata

1. Choose a flat from a reputed builder 

With a number of real estate companies in India, it is difficult to choose the right real estate developer in Kolkata. However, begin by choosing a flat from reputed real estate developers. With that you do not have to worry about the quality of construction and untimely deliveries. Furthermore, established real estate companies are RERA registered and have a good track record of experience and a consistent success rate. Most of the developers are also members of an industry association, such as the Confederation of Real Estate Developers Association of India (CREDAI), or the Builder’s Association of India (BAI)

PS Group is one of the best real estate companies in Kolkata with over 3-decades of experience. We also offer an array of modern and wellness amenities from sustainable, green features to e-mobility, meditation gardens, extra-large balconies, and other seamless and luxurious amenities. 

Before you buy a flat at Kolkata, make sure it is legally authorized and has legal permissions to stand on the plot. Check if the developer has approvals and NOCs from the Municipal Corporation, in addition to other area development authorities for water supply, sewage boards, electricity boards, etc. 

3. Check the location of the flat

With Kolkata becoming a IT hub, it is only sensible to select a flat that is close to commercial and entertainment centres, IT Parks, schools, colleges, grocery shops, hospitals, malls, parks, theaters, etc. Your house in Kolkata should have good connectivity to major parts of the city as well as to public and private transportation. Consider future connectivity plans like a proposed metro line or an expressway around the locality before the final purchase.

Furthermore, the property’s location not only impacts the market value of the property but also your standard of living. As a new homebuyer, you should know, higher ROI largely depends on the location of property. 

4. Know the difference between carpet area and built-up area 

As a new homebuyer, you should know the key terms such as carpet area and built-up area. The super built-up area which is usually mentioned in the brochures, includes the staircase, the thickness of the walls, elevator space, lobby area, etc. The actual carpet area of the flat is almost 30% less than the super built-up area. 

5. Study the property documents thoroughly

Although this may be the least interesting part, given the intricate peculiarities and the technical language, it is important to understand all the clauses of the property documents in detail—this includes clauses about the penalty, grace period and flat’s possession, among others. 

Make sure to also do a thorough research on additional expenses such as GST, stamp duty, home loan processing fee, registration charges and all other charges.

The benefits of owning a flat in Kolkata

Flat in Kolkata

Now that you have understood the groundwork that needs to be done before buying a new flat at Kolkata, let’s get to the brighter side of the story.

1. Round the clock security 

If you select a flat in salt lake or luxurious flats in New Town, you will realize the bliss of the in-built security amenities. Security is one of the major reasons for the higher demand for residential flats at kolkata. 24/7 CCTV surveillance, super-tight gate security, visitor’s book, no trespassing, provision for an optical fiber network, video surveillance system, perimeter security and lobby entrance security, fire prevention, suppression, detection and alarm system as per fire norms, lift safety are some of the top priority safety features considered by homebuyers. 

2.Wellness and luxurious amenities 

Most of the upcoming townships in Kolkata are equipped with modern amenities such as gymnasiums, badminton courts, recreation centres, play area, open grounds, gardens, jogging tracks, swimming pool, community hall, etc. among others. With a clubhouse or a community hall within the premises of the residential complex, homebuyers can organize small functions without the hassle of finding halls at the last minute.  If you are into green living—flats by PS Group offer green building features such as solar panels, electric car charging facility, sustainable building material, among others. 

3. Sense of united community 

If you buy a flat in a nice neighborhood, you will be surrounded by reliable neighbours, who are just like you. You may also ask your builder about the profile of your potential neighbours. After all, staying in a united community will make your stay happy and safe.  It also brings you a sense of belonging and safety. 

4. Flats are less expensive than houses 

One of the major advantage is a flat in kolkata is less expensive than a bungalow in kolkata. First of all, the down payment and the maintenance cost for a flat is less. The renovation and expansion costs are also affordable than the regular maintenance costs of independent houses. Your quality of life remains high and at the same time, you don’t have to shell out extravagant costs. Furthermore, flats are a great investment option. 

Why buy a flat in Kolkata

Finally, we can say that buying a flat in Kolkata is a great choice. However, as new homebuyer you might want to check, ‘how much you can afford’. Remember, with every square foot, the monthly budget increases along with property taxes. It is wise to decide your price range on the basis of your income. In the process, remember to be open to options. Also consider properties from prime locations as the price of the property will also impact your standard of living—choose a perfect mix of cost and quality.  Good luck!

FAQs 

What is difference between flat and apartment?

The terms “flat” and “apartment” are used interchangeably. The biggest difference lies in its regional usage—”flat” is most commonly used in the U.K., and “apartment” is used in North America and the United States.

Why is it called a flat?

The word ‘Flat’ is derived from the Scottish word “flet,”. It means a floor or a storey of a house or building. It is called a ‘flat’ because the rooms of an apartment are all on the same level, hence flat.

Should I buy flat or house?

If you buy a flat rather than a house, your initial purchase costs will be lower in comparison. If you buy a house, you will have a higher potential for capital growth in the long run. But a house is typically a larger investment.

Is flat worth buying?

Flats offer the best opportunities for investors. Especially if you have limited funds but want to enter the real estate market to reap returns. 

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