The real estate sector in general and the Bungalows in Kolkata, in particular, are witnessing an upward trend in the vivacious city of Kolkata. This is primarily due to the rapid urbanisation and evolving lifestyle preferences among the city’s residents.
As one of India’s major metropolitan areas presenting a broad spectrum of employment and investment opportunities for people from all walks of life, the city is experiencing a spike in the number of high net-worth individuals (HNIs) and affluent families seeking more spacious, luxurious, and exclusive homes.
Bungalows perfectly cater to these desires by offering a distinguished combination of comfort, privacy, and opulence that makes them a popular choice among investors, even as property prices continue to rise.
Additionally, bungalows in Kolkata represent a valuable investment opportunity for those considering property ownership. As the city continuously expands and land becomes scarcer, bungalow properties and their plots are enticing more number of investors.
Furthermore, bungalows offer a level of customization and design flexibility not often found in apartment complexes or high-rise buildings, allowing homeowners to create personalised living spaces that cater to their unique needs and preferences. Thus, the combination of lifestyle aspirations and long-term investment potential significantly contributes to the rising demand for bungalows in Kolkata.
Recent Housing Trends in the Real Estate Market
The upscale and opulent housing sectors experienced a modest increase in sales on a quarter-by-quarter basis. A recent report emphasised that residential sales doubled in seven major cities, including Kolkata, during the third quarter (Q3) of 2022. Approximately 2.73 lakh units were sold, while 2.65 lakh units were made available between January and September 2022.
Top 4 Reasons Behind Rising Demand for Bungalows in Kolkata
Mentioned below are some of the most prominent and striking reasons behind the surge in demand for bungalows in Kolkata.
1. Privacy, Space, and Autonomy
Duplex bungalows often come with their own private gardens or yards, letting residents enjoy their personal outdoor space for gardening, or simply for some relaxation and entertainment. This also provides a sense of exclusivity and (healthy) distance from neighbours, thereby reducing noise and proximity-related issues unlike a compact house or an apartment.
Moreover, bungalows have larger rooms and floor areas, creating more room for customization. It lets owners experience the rejoicing freedom of designing the living space according to their unique tastes and preferences.
Duplex bungalows also give residents full control over the maintenance and upkeep of their property. Besides, they give homeowners greater autonomy over any modifications or improvements they may wish to make.
With a bungalow, the owner also gets to enjoy ample parking space and storage options, as opposed to apartments where residents may have to deal with limited parking availability or shared storage facilities.
2. Low Maintenance
As against common perception, duplex bungalows do not demand excessively high maintenance. Previously, duplexes required considerable maintenance due to their design as single-dwelling units, which was regarded as a significant drawback to investing in them.
However, smart real estate developers like 24 East Avenue have since adapted and innovated their approach to designing duplexes. Many modern duplex houses now exist within larger developments or bungalow complexes. These properties boast a range of shared amenities, such as swimming pools, gymnasium, play area, shopping complex, hotels, multipurpose court, etc. Despite their shared nature, these facilities remain exclusive to the reduced number of residents inhabiting these towers.
This results in a fair distribution of maintenance costs among residents, significantly reducing the financial burden on any one individual. They provide homeowners with a wholesome living environment, satisfying all aspects of an ideal home.
3. Value-added Potential
Bungalows in Kolkata are looked upon for their high ROI potential. In other words, they offer a promising investment opportunity with an undeniable assurance of higher profit upon resale.
Most importantly, they provide investors with a tremendous scope of further enhancing the value of the property they have purchased. From interior renovations and extensions to loft conversions or even adding an entire second floor, subject to planning permissions, an investor totally holds the reins of their property’s value.
In addition, introducing such modifications allows the investors to target a broader spectrum of buyers, including both individual tenants and families seeking a suitable living space.
4. A Unique Residential Experience
Duplex bungalows are rare as compared to other property types, and hence people want to purchase one for themselves to stand out from the crowd. Once they are put on the market, they tend to sell rapidly because of their luxurious appeal and their potential to show up as an unbeatable status symbol.
Plus, bungalows are built on spacious plots with sizeable gardens, a rare combination that adds to their allure. These properties, with their unique features, convenient design, and ample outdoor spaces, are truly valuable and one-of-a-kind in the modern residential market.
The Growing Popularity of Duplex Bungalows: Wrapping Up
In summary, lifestyle aspirations play a critical role in driving the demand for bungalows in the city. While bungalows were once believed to fall within a higher price bracket, it is now possible to find them at more affordable prices, with options starting from Rs 1.5 crore.
Purchasing a bungalow does not entail sacrificing style or modernity. In fact, these properties often boast trendy open-plan arrangements seen in contemporary residential designs.
24 East Avenue, the supremely designed bungalows project in Kolkata effectively meets all the expectations of a modern home buyer. It is a24-acree residential bungalow project with 2.5, 3, 3.5, 4, 5, and 7 BHK bungalows in Kolkata and 300+ independent houses for sale near Action Area III, New Town, Kolkata. 40% open space, proximity to nature, and instant access to all the World-class amenities are some of the major highlights of the development.
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