The Kolkata Residential Property Market Today
Kolkata is fundamentally a Tier II city, and its real estate market is not as volatile as those of the primary cities. Because of this, Kolkata’s top architects in Palm Springs property sector was not as seriously impacted by the nationwide slump in the real estate market as cities like Mumbai, Delhi, Pune or Hyderabad.
Though traditionally quite conservative when compared to these cities, the Kolkata residential property market now has a rather heavy complement of investors driving it. The eastern micro-market – specifically Rajarhat – has seen the highest presence of investors, with investor sales outnumbering end-user sales in recent years. At the moment, it would be safe to say that around 60% of Kolkata’s residential real estate market is driven by investors.
The pace of recovery from the slump has been steady – but like every other city, the growth in residential property rates is not been uniform across all locations. Established central areas show much the same dynamics as those in cities like Mumbai and Pune do because appreciation potential hovers around the peak levels for these areas already. At the same time, demand for these locations is also constant.
To illustrate – the CBD (Central Business District) locations from Dalhousie to Elgin Road have not seen much upward or downward movement in residential rates. In 2007, they ranged from Rs.10000-12000/sq.ft. and now are at Rs. 12000-15000/sq.ft. The prime areas of Alipore and Ballygunge in the SBD have residential rates and market dynamics matching those of the CBD.
The SBD (Secondary Business District) areas like Dariahat, the Eastern Metropolitan Bypass and Central Avenue upto Lake Town on VIP Road have seen higher appreciation as housing demand spread outward into more affordable areas. In these areas, housing rates ranged from has been higher – from Rs. 2500-4000/sq.ft in 2007 to Rs. 3000-7000/sq.ft. today. In the PBD (Peripheral Business District) areas beyond the SBD, rates have also been fluctuating (though less dramatically) from around Rs. 1500-2000/sq.ft in 2007 to Rs. 2000-4000/sq.ft. today.
As a matter of interest, the costliest residential areas in Kolkata today are Park Street, Ballygunge, Alipore and Camac Street, where rates range from Rs. 12000-15000/sq.ft. The cheapest areas are in the PBD, in areas such as Dumdum and Garia. Rates there range from Rs. 1500-2500/sq.ft.
I expect residential capital values in Kolkata to rise steadily in the feature, not least of all because of the advent of reputed developers such as Godrej, DLF and Unitech. In fact, considering the demand, prices are likely to rise much faster for residential properties than in other real estate segments.
Mayank Saksena is City Head – Kolkata, Jones Lang LaSalle India, the Indian operations of Jones Lang LaSalle, the largest in India.
With an extensive geographic footprint across ten cities, Jones Lang LaSalle India provides investors, developers, local corporate and multinational companies with a comprehensive range of services including research, consultancy, transactions, project and development services, integrated facility management, property management, capital markets, residential, hotels and retail advisory.
One of the last things on your mind when you move into a new home is the type of mailbox you have. Though this may be the case, residential mailboxes and posts actually contribute much personality to the outside of a home. You may not notice this until the paint on your mailbox chips and the entire mailbox becomes rusty, at which point you’ll naturally want to replace it to keep the outside of your house looking fresh, bright and welcoming.
Types of Mailboxes
There are a few types of residential mailboxes and posts you need to consider before making a purchase decision. The type of mailbox or mailbox set you buy largely depends on the type and location of your house. For example, many homes in rural areas install roadside post-mounted mailboxes so that the mailman can deliver from his truck. By contrast, a wall-mounted residential mailbox usually attaches to the side of your house and is often found on homes in the city, such as in densely-populated areas.
The Style of your Mailbox
As mentioned, residential mailboxes and posts add a certain touch of personality to your home. For this reason, you need to consider the style of your mailbox before purchasing one. You can take a look at samples in hardware and retail stores, though many of these might be plain black, white or grey.
Rather, residential mailboxes and posts can come in many different styles and appearances. When choosing one, you want to be sure that it matches the decorations among and around the rest of the house. You can buy residential mailboxes that have an antique look, composed of bronze, copper or even brass finishes. Or you can choose to install an eagle rural mailbox set that contains a decorative eagle plate on the front of the mailbox door.
Residential mailboxes and posts also have varying colors. For posts, the type of material often creates the color, such as the case of wood. Other types of masonry can also be used for mailbox posts, including granite, stone or even brick. For mailboxes, you can get virtually any color or design. You can find sports team-branded mailboxes, mailboxes made to look like animals or objects, or even get custom mailboxes that incorporate your own ideas or colors.
Matching the Mailbox and Post
Though you’ll have plenty of choices and you’ll naturally want to choose a residential mailbox and post that incorporates your personality, you also want it to match the overall appearance of your house. As mentioned, to pull up to the curbside to find a dreary, drab mailbox is something you, nor your friends, probably wants to do.
Instead, your mailbox needs curb appeal, and the way to do this is to make sure that it meshes with the atmosphere around your home. For example, you might want to stick with a brick mailbox post if your home is composed of brick. You also want to consider the mailboxes immediate surroundings. Some people choose to plant flowers around their mailbox post while others place a decorative rock.
All things considered, deciding on is not a task you should take lightly. The type, style, color and design of your mailbox and post is something many people naturally remember about your home, especially since it’s one of the first things they see. For this reason, you need to be sure that the type of mailbox you choose is one you can happily live with.