Guide for Bally Residential Real Estate Investment

Bally is a small neighbourhood located in the Howrah district of West Bengal. It currently comes under the Kolkata Metropolitan Development Authority (KMDA), and Bally municipality deals with the government of this area. At an average elevation of 15m and surrounded by the Hooghly River, Bally can be a beautiful place for residence. 

As per the findings of the 2011 Census, Howrah has a population of 55 lakhs. The Bally Canal separates Bally from Uttarpara, which is now connected through a bridge. Bally has great connectivity with its bus lines, connecting people across Howrah and Kolkata. With affordable rates, Bally attracts residential prosperity investors regularly.  

Read till the end to get a comprehensive view of the residential real estate sector of Bally.

Top Reasons to Invest in Residential Real Estate in Bally

If you are wondering about the reasons for investing in the residential real estate properties of bally, here are some of them. 

  • Connectivity & Transport 

Bally has great connectivity across Howrah. Moreover, its bus lines help the residents travel to different locations across Kolkata. The main rail station here is Bally Railway Station. There are also Bally Ghat railway station and Bally Halt railway station on the Sealdah – Dankuni line, which connects all across Kolkata. Netaji Subhas Chandra Bose International Airport is also close.  

  • Affordable Price 

The pricing of the real estate properties in this area is relatively affordable compared to other parts of Kolkata. A 1BHK apartment costs about ₹ 10 lakhs in this area. Moreover, the cost of living is also low here. Howrah comes under the top 2% among the least expensive countries across the world. 

  • Healthy Environment & Neighbourhood 

The neighbourhood in Bally is clean and friendly. There have hardly been reports of chaos or trouble in this locality for a long time. The environment is also somewhat clean. It also looks beautiful because of the surrounding river. 

Investment Opportunities in Residential Real Estate in Bally

If you are planning to invest in the residential real estate sector of Bally, here are some of the most beneficial locations. 

Ghoshpara 

It is a common residential area in Bally, located in close proximity to Delhi Road. Auto rickshaws are commonly available towards Bally Halt or Belur Station. Patha Bhavan, Nischinda Balika Vidyapith, Surendralal Das College, Belur State General Hospital, etc., are easily accessible from this area. Prices of 2BHK apartments start from about ₹ 21 lakhs

B.T. Ganguly Lane

It is located near the G.T. Road and well-connected with the Bally Ghat Station and Dakshineswar Metro station. Residential properties have grown rapidly in this area because of the favourable location and transport facilities. A luxurious 3 BHK apartment starts from only ₹ 30 lakhs here. It can be a good location for investing in residential properties, as the neighbourhood is clean.

Things to Consider Before Investing in a Residential Property in Bally

Real estate investment can be a risky business. Here are a few factors you must consider before investing in the real estate properties of Bally. 

  • Budget 

A few areas in Bally might be comparatively more expensive than the others. It is thus important to fix a budget and move ahead keeping that in mind to avoid extra expenses. Moreover, if you find properties at an extremely low price, make sure to investigate them properly to avoid any possible defects. 

  • Location 

While Bally is a beautiful place and facing rapid urbanisation, some of its locations can be slightly riskier than others. These places have bad road conditions, electricity provisions and sewage systems. Make sure to inspect the locality and consult a professional broker to avoid choosing the wrong location. 

  • RERA Authentication 

Real Estate Regulatory Authority (RERA) is a statutory body that is used to increase transparency in the real estate business for better transactions. It is therefore important to check whether a property is registered under RERA to ensure its authenticity. You can check West Bengal’s RERA website to avoid purchasing illegal properties. 

Stamp Duty in Bally

Here are the stamp duty charges in important parts of West Bengal.

Name of city Stamp Duty For Properties Under ₹ 25 LakhStamp Duty For Properties Above ₹ 25 Lakh
Howrah 4%5%
Kolkata 4%5%
Kharagpur 4%5%
Durgapur 4%5%
Siliguri 4%5%

This shows that in regions like Bally in Howrah, stamp duty charges range between 4% and 5% based on the price of the property. Here are the stamp duty charges of West Bengal based on various deeds and statuses of a real estate property. 

Property-related Activities Stamp Duty Charges 
Gift deed to family members 0.5% of the market value 
Gift deed to others 0.5% of the market value 
Transfer of lease in case of government’s land 0.5% of the market value 
Cost of lease property transfer 0.5% of the market value 
Power of attorney for properties under ₹ 30 lakh₹ 5,000
Power of attorney for properties between ₹ 30 lakh and ₹ 60 lakh₹ 7,000
Power of attorney for properties between ₹ 60 lakh and ₹ 1 crore ₹ 10,000
Power of attorney for properties between ₹ 1 crore and ₹ 1.5 crore ₹ 20,000
Power of attorney for properties between ₹ 1.5 crore and ₹ 3 crore₹ 40,000
Power of attorney for properties above ₹ 3 crore₹ 75,000
Partnership deeds ₹ 20-₹ 150
Sale agreement on properties worth ₹ 30 lakh₹ 5,000
Sale agreement on properties worth ₹ 30 lakh – ₹ 60 lakh₹ 7,000
Sale agreement on properties worth ₹ 60 lakh – ₹ 1 crore₹ 10,000
Sale agreement on properties worth ₹ 1 crore – ₹ 1.5 crore₹ 20,000
Sale agreement on properties worth ₹ 1.5 crore – ₹ 3 crore₹ 40,000
Sale agreement on properties worth more than ₹ 3 crore₹ 75,000

Registration Charges in Bally

Registration fee in West Bengal is about 1% irrespective of the location of the property. However, it might differ based on the kind of property-related activities. The registration charges in Bally, Howrah, are as follows. 

Property-related Activities Registration Charges 
Gift deed to family members 0.5% of the market value 
Gift deed to others 0.5% of the market value 
Transfer of lease in case of government’s land 0.5% of the market value 
Cost of lease property transfer 0.5% of the market value 
Partnership deeds ₹ 7
Sale agreement on properties worth ₹ 30 lakh₹ 7
Sale agreement on properties worth ₹ 30 lakh-₹ 60 lakh₹ 7
Sale agreement on properties worth ₹ 60 lakh-₹ 1 crore₹ 7
Sale agreement on properties worth ₹ 1 crore-₹ 1.5 crore₹ 7
Sale agreement on properties worth ₹ 1.5 crore-₹ 3 crore₹ 7
Sale agreement on properties worth more than ₹ 3 crore₹ 7

Bally Residential Real Estate Sector – What’s the Forecast?

West Bengal is experiencing rapid growth in the field of real estate. This is evident as the state government has decided to reduce the stamp duty rebate by 2% as an attempt to encourage residential property investment here. In Kolkata, there was a jump of 124% in the sale of residential apartment markets as of 2022 compared to the previous quarter. 

Howrah is one of the oldest industrial areas of West Bengal. With time, it has evolved as a hub for residential properties. It has several industries located here, including the Bharat Steel Industries. This has contributed to the growth of residential investment in Bally. The schools, colleges and transport facilities have also contributed to the same. 

Various new projects are in line in Bally for residential real estate properties, such as BG Bally Sky High and Cozy Plaza. Currently, Bally offers an affordable price for properties, about ₹ 2,000-₹ 4,500 per sq. ft. This means the future of residential real estate is bright in Bally. 

Residential Real Estate Vs. Other Asset Classes

Some people might wonder how investing in residential real estate properties can be more beneficial than investing in any other form of assets. Here is a comparison between real estate properties with other assets to help you choose your investment options. 

  • Residential Real Estate vs. Stocks & Mutual Funds

When it comes to investment options, stocks and mutual funds have always been popular. They generate good returns. However, the risks are usually high with such options, since these are highly volatile and subject to fluctuations with the changes in the economy. Real estate properties are less risky, even though the ROI might be lower. 

  • Residential Real Estate vs. Gold

Gold is one of the most valuable metals in India. Indian citizens often purchase gold jewellery, not just as accessories but also as assets. Gold price is increasing regularly, which makes it a good investment option. However, it cannot generate returns as residential real estate properties. 

  • Residential Real Estate vs. Commercial Real Estate

Commercial real estate properties are usually rented for commercial activities, like organisations and start-up ventures. These generate more returns than residential property, as they tend to do business from these. The only problem here is that finding tenants to rent commercial properties can be a cumbersome job.

  • Residential Real Estate vs. Bonds

Bonds are good investment options to ensure minimum risks. They are not volatile, which ensures more or less the same returns. However, the returns are usually low, keeping limited risks in mind. Real estate properties generate higher ROI than that. 

Do you wish to invest in high-rated bonds? Check out our website for more. 

ParametersResidential Real EstateStocks & Mutual FundsCommercial Real EstateGoldBonds 
ReturnsModerateHighHighModerateModerate
LiquidityLowHighLow High Moderate
RiskLowHighLow Low Moderate
VolatilityLowHighLow Low Low 
Ticket SizeHighVaries High Low Varies

Steps to Invest in Residential Real Estate in Bally

Step 1: Plan your requirements for a residential property. Fix a budget. 

Step 2: Start looking for properties in the chosen location. Compare their prices with the amenities and facilities they are offering. 

Step 3: Shortlist some of the properties. Visit the location and inspect the area along with the apartments. 

Step 4: Generate feedback after consulting with professional brokers. Gather reviews from the neighbours. 

Step 5: Consult a lawyer and analyse official documents, including the title deed and foundation certificate. Complete the stamp duty and registration charge payments. 

Step 6: Make the final payment to the seller. Get an insurance policy for the property. 

Final Word

Thus, Bally can be a good option if you are planning to invest in residential real estate properties in West Bengal. With affordable pricing, it offers great transportation, connectivity and local amenities. You can get luxurious properties in this area at an affordable price, and the stamp duty has also been reduced. 

Frequently Asked Questions

What are some good locations for residential real estate properties in Bally?

Among others, Ghoshpara and B.T. Ganguly Lane are some of the best residential areas in Bally. You can consider purchasing properties from here.

Is Howrah safe for residence?

Yes, Howrah is mostly safe for the residents. Currently, it has a moderate crime level. The police systems are strong here.

How expensive is residential real estate in Howrah?

Residential real estate properties usually cost about ₹ 2,000-₹ 4,500 per sq. ft. in Howrah. This shows that the properties are not very expensive.

How is Bally suitable for residence?

Bally is suitable for residence since it has great connectivity with the rest of Kolkata, and its transport system is also effective with trains, buses and ferries.

Was this article helpful?
YesNo

Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The article may also contain information which are the personal views/opinions of the authors. The information contained in this article is for general, educational and awareness purposes only and is not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision, whether related to investment or otherwise, taken on the basis of this article.

Leave a Comment