Demand for Service Apartments Dominate Kolkata Realty

Kolkata: The Kolkata real estate market is pulling in investors from all around this fiscal year.  The realty industry of Kolkata has been witnessing new highs since the advent of Information Technology. The growing IT segment has increased the demand for commercial as well as industrial spaces in some of the prime locations of Kolkata. In specific the demand for service apartments is in all time high.Service apartments are full-furnished apartments equipped with all the necessary facilities required before moving in. This includes ready-to-use kitchen, Wi-Fi connection, TV, fridge,etc.  Service apartment is the new buzz word in the realty industry of the Metro cities. This trend has remained consistent over the last 2-3 years. To bridge the chasm between the demand and supply of this apartment type, reputed builders have plunged into developing residential projects for service apartments. Real estate developers like the Diamond Group, Bengal Ambuja Group are gradually stepping into the real estate market with newer projects which will diversly cater to the service apartment market.Service apartments are available for a monthly rental between the price range of Rs.2,000 and Rs.10,000. This alternative is cost-effective as compared to renting a hotel room. With the soaring demand the rental values of service apartments is up by 10% this quarter.  The trend indicates that a significant portion of the IT workforce demands 1bhk or 2bhk residential spaces on sharing basis. Apart from working professionals tourists and travellers prefer service apartments to the hotel rooms for their affordability. Almost 70% of the buyers are investors who basically rent out their residential space as service apartments to working professionals.Rental prices of the service apartments are revised after every 10 months. Rajarhat and Salt Lake areas in Kolkata have the maximum demand as well as supply for service apartments. This is because these areas are inclose proximity to the airport, IT hubs and other tourists hotspots. Apart from these, areas like Ballygunj, Park Street, Park Circus and EM-Bypass have seen a surge in demand due to its nearness to the Howrah railway station.The future of Kolkata realty signals development since newer concepts emerging from the real estate industry is being postively welcomed by the prospective buyer from across the city.займ на карту без отказов круглосуточновзять кредит онлайн