Kolkata’s top five most luxurious residential areas
Kolkata, is well-known for its prominent colonial architecture and historic sites. Since time immemorial, this rich tradition has prepared the path for the creation of residential areas. As a result, some affluent neighbourhoods in the city have formed that value their historic significance while providing contemporary amenities and municipal infrastructure. Alipore, Bhowanipore, Ballygunge, Salt Lake, and Park Street are just a few examples. Home prices in Kolkata’s most affluent neighbourhoods start at Rs 10,000 per square foot and go up from there.
Average price per square foot: Rs 14,900
Alipore is one of Kolkata’s most affluent neighbourhoods, bordered to the east by Bhawanipore and to the west by Diamond Harbour. It is a micro-market with many of trees, as well as India’s largest zoological park and the national library. Alipore’s living conditions are enhanced by excellent accessibility to other sections of Kolkata, a strong drainage system, and social infrastructure. With typical property costs in the neighbourhood reaching Rs 14,900 per sq ft, the area is opulent, with housing opportunities that are available only to upper-middle and high-income homeowners. There are few to no options for cheap housing in this area.
Average price per square foot: Rs 12,700
Bhawanipore, located in southern Kolkata, is a city entertainment centre. This neighbourhood is well-known for the homes of affluent industry leaders, movie stars, and affluent immigrants. Bhowanipore is surrounded by superior public utilities, colleges, and institutions, and is flanked by Indira Cinema, Basusree Cinema, and the Kolkata Municipal Corporation office. The location is typically favoured for luxurious bungalows and villas. The monthly rent for a two-bedroom apartment in this area is around Rs 22,000 per month.
Kolkata’s Ballygunge district
Average price per square foot: Rs 11,900
Ballygunge in South Kolkata’s buyer profile consists of of High Net-worth Individuals (HNIs) and ultra-rich Non-Resident Indians (NRIs). It is well-known for its multicultural culture, seamless social infrastructure, and well-kept municipal facilities. The closeness to the military installation, Birla Mandir, and the Institute of Child Health has boosted housing values in the neighbourhood, which have risen by roughly 3% YoY notwithstanding the pandemic strain.
Kolkata’s Park Street
Average price per square foot: Rs 22,600
Park Street has been a popular leisure area for Kolkata inhabitants ever since British era. This upscale neighbourhood is known for its nightlife and is densely packed with nightclubs, cafes, and gathering spots. These characteristics, along with cleanliness and a welcoming business environment, make this neighbourhood a coveted commodity in Kolkata’s real estate market. Monthly rent for a two-bedroom flat in the area is roughly Rs 47,500. The road comes to an end at Park Circus, another upscale neighbourhood in Kolkata.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.