कोलकात्ता Kolkata (KOAA): The upcoming metro project in Kolkatta has improved the prospects of the realty market in many localities. One such locality, say trend watchers, is Madurdaha.
Subhoto Biswas, owner, MS Realtors says, “The soon to be functional metro in Madurdaha has already heightened expectations. Although the market has not leaped, there is no reason why it won’t in the future.”
Biswas informs that the popular price bracket in the area is between Rs 35-45 lakh and the market is fast moving for 2BHK units. Within this price range, you are sure to get a home with corresponding social infrastructure.
Ram Kamal Saha, a local property consultant at Real Realty Consultants points out that the area has developed from scratch. “There was nothing in Madurdaha a few years back. Recently, new roads have been constructed and of late, a lot of new projects have started which have practically created a new township.”
Both Saha and Biswas add that the rental market has few takers in Madurdaha. “There are service men and businessmen in the locality and most of them have invested for end use,” says Saha.
As of now, the closest metro station is the Khudiram Metro Station located beyond Pranabananda
Road and Garia Station Road towards the west of EM Bypass.
Social infrastructure of the area is also respectable in the form of hospitals like Ruby Hospital, educational institutions and the like. State run buses are popular and ensure fast connectivity.
According to Magicbricks data, one could opt for a 2BHK unit with area in the range of 770-1400 sq ft. The price range would be anywhere between Rs 28-70 lakh. If you wish to go in for a larger configuration, prices would be in the range of Rs 35-75 lakh. The size of these 3BHK units is in the range of 1000-1700 sq ft.
This may vary depending on the brand of the developer, quality of facilities provided and proximity to social and physical infrastructure.
Rahul Jha, owner, GS Realty, warns about the poor drainage and sanitation conditions in Madurdaha. “The drainage system has been totally neglected and there have been instances of dengue in the locality. The drainage repair work has already started and we are hoping that it should be solved within six months.”
Yet another concern among local brokers is that the roads are in need of a facelift. Sreejib Pal, realtor at DR Group says, “Prospective buyers have now realised the potential of Madurdaha. The roads, however, are in a bad condition and it works against us.” While some roads are undergoing repairs, a lot more needs to be done.
However, Jha and Saha are both hopeful that for investors in this locality, the return on investment would be sizeable.
With a new township in the making with the drainage system undergoing repair and the metro already under construction, hopefully they will be proved right.