Real Estate Costs and Living Arrangements in India
India is a vast country with diverse real estate markets, ranging from bustling metro cities to tranquil suburban areas. In this article, we explore the real estate costs, apartment valuations, and food arrangements in three different regions: Kolkata, Mumbai, and Bengaluru. Each region presents unique opportunities and challenges for homeowners and renters.
Flat Costs and Valuations in Kolkata
The real estate market in Kolkata can be quite intricate. A 4-BHK apartment, which is a 4-bedroom flat, was purchased two years ago when the father retired. The transaction and refurbishment expenses added up to a total of 50 lakh rupees, and it has been in the rental market since then. The apartment is located on a busy road, in a relatively upscale neighborhood, and offers all the amenities within a walking distance, including public transport and daily necessities.
Living in high-rise apartments can be economical, with a 2-bedroom, 2-hall, and kitchen flat in Mumbai being a prime example. Situated in a 20-story tower, the flat has a carpet area of 600 square feet and a market value of around INR 1.6 to 1.8 crore. Although the area is not a posh spot like Bandra or Colaba, the real estate market here is still competitive. Monthly rental income of 35–40,000 rupees can be expected, with a maintenance fee of INR 4,000 subtracted.
Food and Daily Amenities in Kolkata
The food arrangements in Kolkata are quite robust, with fresh vegetables and fruits available daily from local markets. This makes it convenient for residents to have a varied and healthy diet without much hassle. Non-vegetarian items like chicken, mutton, or fish are available within a short walking distance, enhancing the culinary experience.
Rental Homes in Bengaluru
In Bengaluru, the Parkside retirement home at Brigade Orchards Smart Township is a unique living environment where many residents have traded their aspirations for practical benefits. The two-bedroom and single-bedroom flats are either sold directly by the builder or available for purchase from previous owners. The current costs are approximately INR 70 lakh for a single-bedroom flat and INR 90 lakh for a two-bedroom flat, with larger common areas contributing to the premium prices.
For those seeking rental options, the Parkside retirement home offers a minimum 11-month lease period at INR 25,000 for a single-bedroom apartment and INR 32,000 for a two-bedroom apartment. The proximity to the international airport and the presence of essential services make these retirement homes an ideal choice for those looking to downsize or enjoy a comfortable lifestyle with minimal maintenance.
Understanding Apartment Valuation and Food Arrangements
Apartment valuation is not a one-size-fits-all concept. Each location, age of the building, and amenities play a significant role in determining market prices. For instance, a 4-BHK apartment in Kolkata can range from 45 to 50 lakh rupees depending on the location and condition. The food arrangements in these areas vary, with fresh produce and local markets making these neighborhoods quite vibrant.
Residents in Mumbai can capitalize on the flat's position in a bustling market, which offers convenience for daily needs. Non-vegetarian food is easily accessible, adding to the variety of dining options. In Bengaluru, the proximity to the international airport and the retirement home's well-maintained common areas make it a desirable place to live, ensuring residents can live comfortably without much fuss.
Conclusion
Exploring the real estate market in India reveals a diverse range of housing options and living arrangements, from upscale neighborhoods in Kolkata to bustling markets in Mumbai and retirement homes in Bengaluru. Understanding the costs, valuations, and food arrangements can help individuals make informed decisions about their housing needs, whether they are looking to buy or rent.
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Real estate cost in India, Apartment valuation, Food arrangements in India