While the Indian real estate sector is booming and developers are building increasingly modern housing projects in the country's major metropolises like Mumbai, Bangalore and Delhi, apartment prices are going through the roof too. Most middle-class property seekers have turned to tier 2 cities for affordable housing. However, Kolkata provides the best of both worlds. Compared to its counterparts, the bustling metropolis in the heart of West Bengal offers an affordable oasis of modern housing options when it comes to flat-hunting. Flats in Kolkata are known to be much more affordable than other big cities in India. And there are many reasons for this.

Abundance of Land and Development Opportunities

Most of India's big cities, especially Mumbai have used up all the available space. It can be challenging in these cities to find land for developing residential projects and even more challenging to acquire the required permits. Kolkata boasts ample space, allowing for wider development, and preventing price inflation. Additionally, mixed-use development integrates residential projects with commercial and green spaces, maximizing land use and potentially lowering housing costs. Availability of such land encourages developers to offer larger homes like 2 and 3bhk flats in Kolkata.

Affordability is a Priority for Kolkata's Population

Kolkata is home to a large middle-class population that prefers economical housing options. In order to meet the needs of this population, the city prioritizes mid-range and economy housing, attracting developers like Tata Housing and offering budget-friendly options like the 88 East project. The West Bengal government is also known for providing incentives to developers to provide affordable housing options.

Moderate Construction Costs:

Construction material and labour costs in Kolkata are lower than in other cities. This translate to savings for developers and builders, thereby improving overall affordability. Flats for sale in Kolkata are much easier on the pocket not just for buyers but also for the builders.

Established Infrastructure and Amenities:

Since the time of the British Raj, Kolkata has continued to remain a cut above other cities when it comes to infrastructure like roads and public transport. This saves a lot of time and effort from the government and developers on infrastructure development. Existing infrastructure is modernized instead and the presence of such infrastructure allows developers like Tata Housing to come up with unique projects like Avenida in developing regions of the city, promoting a modern and indulgent lifestyle.

Slower Appreciation:

Kolkata's real estate exhibits a moderate growth rate, unlike booming cities with rapid appreciation. While this might not attract investors seeking high returns, it benefits buyers seeking stable and predictable costs, keeping flats within reach. Even luxury flats in Kolkata see a reduced appreciation rate compared to other cities.

By understanding these factors, potential buyers can unlock the unique value proposition that Kolkata's flat affordability offers.