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What Makes Joka a Prime Location for Property Investment?

22 July, 2024
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With the Joka-Esplanade Metro line looming large on the horizon, what was once considered a remote outskirt of south Kolkata – along Diamond Harbour Road – will soon be only 30 minutes away from Kolkata’s Park Street. This significant infrastructure development has sparked interest in Joka as a prime property investment location. The area already tops the popularity ratings for budget apartments, and Kolkata’s best deals for flats, and is becoming a hotspot for property buyers. Here are top reasons why Joka is gaining traction among investors.

Modest Prices

Housing prices in Joka are 7% lower than in neighbouring Behala and 40% lower than in Tollygunge, a well-to-do south Kolkata locality. This affordability appeals to price-conscious buyers seeking budget apartments in a rapidly developing area. Compared to other parts of south Kolkata, Joka offers more value for money.

Open Space and Modern Amenities

A sprawling, 50-acre gated residential project like Gems City could only be possible in green-field Joka. Gems City offers wide open spaces, a 40,000 sq. ft. Club, outdoor recreational facilities, and a diverse range of dwelling options, including 1-2-3BHK apartments and independent bungalows. Modern amenities make Gems City a desirable destination for the aspiring middle class who are seeking quality living with economy, in south Kolkata.

Enhanced Connectivity

Once the Joka-Esplanade Metro Purple Line is complete, connectivity will dramatically improve. Residents will be able to use the interchange at Esplanade to board a Green Line train to Howrah station or Salt Lake Sector V via Sealdah. The interchange at Park Street will connect to the Blue Line towards Dakshineswar or Kalighat, either way. Additionally, Diamond Harbour Road connects Joka to areas such as Howrah, Esplanade, Rashbehari, and Sealdah, while James Long Sarani connects Joka to various other parts of the city. The completion of Diamond Harbour Road 4-Lane will further enhance speed and mobility.

Robust Social Infrastructure

Joka boasts a robust social infrastructure with esteemed educational institutions like Vivekananda Mission School, St Francis Elite School, Delhi Public School (Joka) Kolkata, Gems Akademia International School, and the famous Indian Institute of Management Calcutta (IIM-C). The area is also well-served by specialty hospitals and nursing homes. Residents have a variety of dining options with over 200 restaurants and cafes, including big chains.

Shopping and Lifestyle Options

The upcoming Acropolis South and Deluxe malls along the Behala-Joka stretch, alongside existing markets like Rasapunja Bazar, Thakurpur Bazaar, and Thakurpur Nutan Market, offer excellent shopping opportunities. Reliance Trends and branches of major banks like SBI, HDFC, Axis Bank, Bank of Baroda, and Union Bank have also set up shop in Joka.

Investment Return Potential

According to Times Property, prices in Joka have increased by about 90% in the last five years, highlighting the area’s investment potential. Experts predict that with on-going infrastructure projects, including those by the Gems Group, property prices in Joka will appreciate by 100-125% by 2030. This projected growth makes Joka a lucrative investment opportunity.

Advantages of Buying at Launch

Purchasing a property at its launch or early phase, like in Gems City, offers several benefits. Buyers can choose their preferred floor, view, ventilation, and even suggest customizations for doors, windows, and fittings. Additionally, properties are significantly cheaper at the launch stage, allowing buyers to save money for future interior enhancements.

Financial Benefits

Buyers at the launch phase usually pay only 20-25% of the property value at booking. Many developers offer ‘no EMI till possession’ schemes, where the interest on loans is paid by the developer until handover. This arrangement provides financial relief and allows buyers to structure their payments over time.

Proven Appreciation

Those who booked flats or bungalows in the first phase of Gems City have already seen remarkable appreciation. Investing in early stages now guarantees better price differentials for future resale, making it a wise financial decision.

A Prime Location

Considering all these factors, Joka stands out as a prime location for property investment. Projects like Gems City offer budget apartments and Kolkata’s best deals for flats, providing an excellent opportunity for prospective buyers to secure an appreciating asset in a rapidly developing region. Find Kolkata’s best deals for flats in Joka and book your Gems City home now, for guaranteed gains.

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