Barasat is an emerging affordable housing destination on the outskirts of Kolkata, West Bengal. This micro-market comes under the Kolkata Metropolitan Development Authority and is an important railway and roadway junction in North Kolkata. With the likes of Rajarhat and Garia having already gained popularity among real estate developers owing to their proximity to city centers and relatively affordable property prices, Barasat in the northern outskirts of Kolkata is gaining attention as the next fast-emerging location.
Until a few years ago, Barasat presented a rather rustic picture typified by traditional stand-alone housing formats with large courtyards, ancient temples and ponds. Today, rapid infrastructure developments and the ever-increasing demand for budget housing in Kolkata is driving growth to this micro-market.
To meet the tremendous demand for affordable housing in North Kolkata, real estate developers have shifted their focus on this growth node and are investing extensively in this suburb. The viability of Barasat as a residential real estate location derives primarily from the generous availability of large land parcels at relatively affordable costs. Barasat is also developing fairly quickly in terms of social infrastructure — specifically retail, education and hospitality — and is expected to eventually grow on the same lines as Rajarhat and Garia.
Though the buyer profile here currently comprises mainly of investors, buying property for end use is on the rise as well. The major driving factor for this locality is its seamless connectivity with the established markets such as Salt Lake and Rajarhat — and also with the international airport, which is just 20 minutes away by road.
Barasat is well served on the civic infrastructure front, with Metro connectivity an added advantage for this suburb. Also, the presence of many hospitals, educational institutes, a railway station and the Chapadali bus terminal, along with possibilities for entertainment such as Icore Mall, have helped strengthen the demand for housing in this area.
Another factor that enhances the buying sentiment in Barasat is the presence of two national highways, namely NH-34 and NH-35. The National Highway-34 runs through Barasat, which ultimately goes towards the north of West Bengal. It is a major link between Kolkata and the North-East India. National Highway-35, which is also known as Jessore Road, leads to Bongaon and ultimately to the Bangladesh border at Petrapole.
Interestingly, Barasat is one town in Kolkata that has witnessed about 25-30 per cent growth in residential capital values over the last three years. Some of the renowned names among Kolkata's developers are active here. Fortune Group with a large township, Mongolia Projects and Riya Primarc Greens LLP are some of the developers offering quality housing in this area. The current residential property rates in Barasat range between Rs 1,800-3,000/sq ft depending on the project and amenities offered. In the Jan-Mar quarter of 2016, this locality witnessed a hike of 2-3 per cent, marking an annualised appreciation to the tune of 10-12 per cent. Undoubtedly, Barasat will continue to rank as an attractive investment proposition in Kolkata.