Parking Your Money in Kolkata's EM Bypass? Here's Why It Is A Good Decision
Eastern Metropolitan Bypass (EM Bypass) is garnering a lot of interest. The locality's proximity with Sector V, Salt Lake further stimulates the demand for apartments in EM Bypass. The increased demand encourages developers to create affordable apartments in EM Bypass. Even Trump Organization in joint collaboration with Unimark Group is coming up with a residential project, sprawling over an area of 400,000 sq ft, on Kolkata's EM Bypass stretch.
The reason for the interest by buyers and developers is that the EM Bypass Road passes through important parts of Kolkata. This 21 km stretch offers great connectivity. Moreover, the Sealdah Railway Station and Netaji Subhash Chandra Bose International Airport are in proximity to the EM Bypass Road. This smooth connectivity and the comparatively congestion-free roads have opened good avenues for the commercial real estate.
The demand for commercial and residential real estate has created great scope for the realty sector as well. The road has some of the famous malls such as the Metropolis Mall (Highland Park) and Mani Square. ITC Sonar and Hyatt Regency, the two popular hotel chains are also based in EM Bypass. Along with this, the EM Bypass Road provides easy accessibility to South City Mall and City Centre Mall.
The sound infrastructure and promising growth invite buyers to purchase apartments in EM Bypass. The average rate of property in EM Bypass Road is Rs 5,269 per sq ft. However, the prices dropped slightly from Rs 5,280 per sq ft to Rs 5,269 per sq ft over the period ranging from Jan 2016 to November 2016. As the prices are running low, this might be the best time to buy. Moreover, the locality has witnessed an increase in the rental rates from Rs 19 per sq ft to Rs 20 per sq ft over a period ranging from Jan 2016 to November 2016. This works out favourably for prospective landlords.
This positive market scenario has encouraged developers to create more affordable and luxurious projects in EM Bypass Road. The total number of projects in EM Bypass Road is 288. Around 167 projects are ready to move in and 93 are in under construction phase.
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