Top Rental Localities To Invest In Kolkata
Kolkata is among the most affordable property markets in India, offering huge potential in terms of rental yield. The city is witnessing demand for rental housing especially in the peripheries due industrial and commercial growth. So, property investors who are looking for a good rental yield could look at the housing stock available in these areas. Interestingly, data available with PropTiger.com show that over 75 per cent of the housing inventory available in Kolkata, is in the affordable segment.
So, if you are planning to invest in an affordable property to earn good rental yield, here are top five localities that are receiving the highest demand for rental properties in Kolkata on Makaan.com.
New Town
Livability score: 8.1
Average property price: Rs 5,032/sqf
Average rent: Rs 20,200/month
A suburb in Kolkata, New Town is a township equipped with the best-in-class facilities available to its residents. It is a perfect blend of residential and commercial development. It has also been declared as the Solar City and will be developed as a smart city, too. The locality is well-connected to the city centre and will soon be easily connected to the Kolkata’s international airport, which is only four kilometres away, through a Metro line.
Property offerings in New Town: The emerging market of New Town has ample options available for investors to pick from. Most of these are available in 2BHK and 3BHK configurations at a starting price of Rs 12 lakh and Rs 18 lakh, respectively. Those planning to rent these units, need to spare at least Rs 4,000 for a 2BHK apartment and Rs 6,000 for a 3BHK unit.
Salt Lake City
Livability score: 8.1
Average property price: Rs 6,344/sqf
Average rent: Rs 34,984/month
Salt Lake City, another Kolkata suburb, is also a blend of residential and commercial developments. The locality has a cluster of IT offices, including that of Wipro, TCS, Accenture and IBM, among others. The location is the best choice for those looking for property on rent, especially professionals working in these companies. It is well-connected to the rest of the city through the EM Bypass, the Manicktala Main Road and the VIP Road. It will also be a part of the Kolkata Metro’s East-West Corridor that will connect it to Howrah.
Property offerings in Salt Lake City: Salt Lake offers a large share of units in the 3BHK segment followed by 2BHK. While a 2BHK apartment could be bought for a starting price of Rs 16 lakhs, you will have to spend at least Rs 43 lakhs to purchase a 3BHK. These also fetch you good rental income. A 2BHK can be rented for a starting monthly cost of Rs 8,000 whereas, this price goes up to at least Rs 18,000 in case of a 3BHK.
Also read: Silicon Valley Project Will Be A Gamechanger For Kolkata’s Real Estate
Dum Dum
Livability score: 8.9
Average property price: Rs 5,007/sqf
Average rent: Rs 11,404/month
Dum Dum is known to house small-scale manufacturing units along with upcoming commercial projects. One of the oldest localities in Kolkata, Dum Dum has a well-developed infrastructure along with strong connectivity to the rest of the city. It also located at a distance of seven kilometres from Kolkata’s international airport.
Property offerings in Dum Dum: Dum Dum has a large inventory available in the 2BHK and 3BHK configurations for the investors to buy. These apartments are available for a starting price of Rs 19 lakh and Rs 45 lakh respectively. The average starting rent for these apartments is Rs 7,500 for a 2BHK and Rs 12,500 for a 3BHK.
Keshtopur
Livability score: 8.4
Average property price: Rs 3,616/sqf
Average rent: Rs 10,251/month
Keshtopur is an emerging property market and an affordable neighbour of prime localities such as Salt Lake City and New Town. The locality is located on the ever-busy VIP Road, connecting it to the rest of the city and also the international airport. The locality also is connected through the old Metro network operating in Kolkata.
Property offerings in Keshtopur: Known for its affordable property prices, Keshtopur has a wide array of apartments in 1BHK, 2BHK and 3BHK configurations and can be bought for starting price of Rs 9 lakh, Rs 16 lakh and Rs 35 lakh, respectively. For builder floors, the prices start at Rs 35 lakh. The above three configurations are mostly in demand. While a 1BHK can be rented for a monthly cost starting at Rs 4,000, a 2BHK for Rs 6,000 and a 3BHK for Rs 9,500.
Picnic Garden
Livability score: NA
Average property price: Rs 5,463/sqf
Average rent: Rs 12,467/month
Picnic Garden is yet another emerging and affordable locality that is surrounded by areas such as Tiljala, Bondel Gate and Ballygunge Place. The locality is well-connected to the rest of the city by road through the GS Bose Road and Picnic Garden Road, through the Kolkata Suburban Railway and the Metro network.
Property offerings in Picnic Garden: Those planning to invest in Picnic Garden will find ample property purchase options in the 2BHK and 3BHK configurations. These apartments are also the top-searched configuration among those planning to rent here. For investors, a 2BHK unit could be purchased for a starting price of Rs 23 lakh, while a 3BHK unit start at Rs 55 lakh. A 2BHK unit could fetch you a starting monthly rental income of Rs 6,000 while a 3BHK could get you Rs 20,000 minimum.