Real estate news on Localities offering highest rental returns in Kolkata

Investors/ Investment proposal, Residential Properties, Kolkata, Real Estate Service (RES)
Posted on Jun 09, 2015

Neeraj Bose, who is currently living in Rajarhat, wants to invest in a property in Kolkata with the sole aim of earning high rental returns. Bose is not alone. There are many investors who are keen to invest in the realty market of the city. However, the more or less stable real estate market has kept such investors from benefiting.

Though capital gains may be hard to get, according to the data available with Magicbricks, certain pockets of the city are offering healthy rental returns to the investors. Take a look!

Narendrapur

Narendrapur clocked about 4.70 per cent rental yield during the last three months. Buying a 2BHK apartment, the most supplied configuration, for Rs 16-43 lakh can earn you monthly rent of Rs 7,000-18,000 per month in the area. Demand for the leased out properties has increased in Narendrapur and with the rental values as well. The rising demand for rental properties has already attracted several investors to the area.

Locality though far away from the city has come into the radar of tenants because of its improving connectivity. “Extension work on the EM Bypass Road to Baruipur is almost complete while the metro connectivity is one the verge of improving,” says Gopal Krishna of Krishna International, a broker firm. Besides, metro line 6 connecting the southern parts of Kolkata to the airport is under construction, which will pass close to Narendrapur.

Tollygunge

Tollygunge, one of the developed localities of South Kolkata, offers a rental yield of 4.69 per cent. This means investing about Rs 43 lakh can fetch you an annual income of about Rs 2 lakh. Currently, average capital values in the locality range from Rs 3,600-4,800 per sq ft while the average rental values vary from Rs 5,000-45,000 per month.

The area shares neighbourhood with Lake Gardens, Jadavpur, and Behala. According to Dheeraj Jaiswal of Anuj Consultancy Ltd, “Tollygunge is affordable in comparison to Jadavpur and Lake Gardens whereas it has a better market, connectivity and infrastructure than Behala. This makes it a preferred choice in the region,” says, a property consultant active in the city.

The presence of Mahanayak Uttam Kumar Metro and Rabindra Sarovar Metro stations is an added advantage to Tollygunge, as it eases the traveling for daily commuters towards the central locations and business districts.

Though the overall real estate market of Kolkata is slow, canny investors can still reap benefits by putting their money in these pockets of profitability.

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