Guide for Maheshtala Residential Real Estate Investment

Maheshtala is a city in the South 24 Parganas located in the Kolkata Metropolitan Region in West Bengal. Its location near South Kolkata makes it an ideal location for residential development. 

Kolkata is one of the major Tier I cities in India, where many students and young professionals from all over the country reside for educational and employment purposes. Mahestala’s connectivity with major localities such as Behala, Santoshpur, Jalkal and Chata Kalikapur increases its demand among those looking for a convenient place for work or study.

Another reason for the high real estate demand here is the affordable property prices. Around 65% of residential properties cost ₹20 lakh to ₹40 lakh, while rental properties usually cost ₹10,000 to ₹15,000. With major MNCs like Wipro, TCS and Cognizant located in Sector 5 in Kolkata, the demand for residential properties in and around Kolkata, like Maheshtala, will only rise in the future.

Currently, the population of Maheshtala has been estimated at 6,16,000, and thus, there is still space available for new housing projects and resale flats. If you wish to invest in residential properties in Maheshtala, read on.

Top Reasons to Invest in Maheshtala Real Estate 

Here are the top reasons why you can consider investing in residential real estate in Maheshtala:

  • IT Growth in Kolkata

Kolkata has witnessed the massive development of the Information Technology (IT) hub with major corporations like Cognizant, TCS and Wipro opening offices. As a result, young employees from all over the country have chosen this city to kick-start their careers. Needless to say, they need places to stay, and residential properties in Maheshtala offer an ideal option.

  • Greater Affordability

Properties in Maheshtala in Kolkata are much more affordable than residential properties in more densely populated parts of Kolkata. Moreover, the demand for mid-segment and affordable housing options has increased in Kolkata, but there are not many options available for buyers. The residential complexes in Maheshtala address this need.

  • The New Normal 

With more and more people working from home and choosing to adopt flexible working schedules, the demand for home offices has grown. This has effectively improved the demand for residential properties in Maheshtala.

  • A Good Option for Rental Income 

Residential properties have a high appreciation value and are good sources of rental income. If your rent undergoes revision, it increases the chances of receiving more income. 

Residential Real Estate Investment Opportunities in Maheshtala

Listed below are the areas you can consider for investing in residential properties in Maheshtala:

  • Budge Budge Trunk Road

You can consider investing in a residential property on Budge Budge Trunk Road in Maheshtala. Prices start from ₹3,358 per square foot. The place is well-connected with every major destination in Kolkata, including educational and medical institutions and other public amenities.

  • Batanagar 

Batanagar in Maheshtala is another great locality where you can purchase a residential property. It is well-connected to the Sealdah-Budge Budge Line and Tollygunge Railway Station. Prices start from ₹728 per square foot. Some of the residential complexes in and around this area provide various amenities like a swimming pool, jogging track, 24 hours water supply and landscaped garden.

  • Thakurpukur 

Prices of residential properties in this area start from ₹4,241 per square foot. Various entertainment options and social infrastructure surround the residential projects in this area of Maheshtala. Some of West Bengal’s top educational and employment centres, like New Town, Jadavpur and Bhawanipur, are just a drive away from Thakurpukur.

Things to Consider before Buying a Residential Property in Maheshtala

Listed below are the things to consider before purchasing a residential property in Maheshtala:

  • Distance from Educational and Medical Institutions

Do not forget to check how far the residential property is from the nearest hospital and educational institutions. It will be immensely beneficial for your family if all the necessary amenities are located nearby. Another important thing you must consider is how far the location is from your workplace.

  • Electricity and Water Supply

Do not forget to take into consideration electricity and water supply before investing in any residential property. Frequent power cuts and disruptions in the water supply can cause great discomfort and affect the value of your property.

  • Check Authenticity with WBHIRA

When the Central Government introduced the Real Estate Development and Regulatory Act in 2016, the West Bengal Government took a different approach. Instead of following RERA, it introduced the West Bengal Housing Industry Regulation Act (WBHIRA).

Do not forget to check the authenticity of the property on the official website of the West Bengal Housing Industry Regulatory Authority (WBHIRA). The State Government introduced it to oversee transactions related to real estate in the state.

  • Builder’s Reputation 

It is essential to check the builder’s reputation and see how many projects have been completed under them. Another thing you must remember to check is whether any legal cases are pending against such a person or not. 

Stamp Duty in Maheshtala 

The following are the stamp duty rates for properties in Maheshtala:

Property LocationStamp Duty Rates for Properties below ₹25 lakh Stamp Duty Rates for Properties above ₹25 lakh 
Corporation (Kolkata/Howrah) area6%7%
Municipal Corporation Area6%7%
Areas that do not fall under the above two5%6% 

Registration Charges in Maheshtala 

Here are the registration charges for properties in Maheshtala:

Property Location Registration Charges 
Corporation (Kolkata/Howrah) area1%
Municipal Corporation area1%
Areas that do not fall under the above two1%

Maheshtala Residential Real Estate Sector: What’s the Forecast? 

Kolkata is one of India’s most prominent industrial hubs, with many prominent MNCs choosing the city to open their offices. As a result, investing in residential real estate in and around the city, like Maheshtala, would prove to be an intelligent decision. Public transportation is a strong point in this area, with numerous options for travelling from one place to another. It is all set to improve further with new metro lines opening up.

Moreover, the State Government plans to develop the foundry industry in the state and expects that GDP will rise by 9% in the next 10 years. It is also expected to create more employment opportunities. West Bengal offers skilled manpower and a well-maintained water supply, road and railway transportation system, all of which can contribute significantly to its development in the future. 

The real estate prices in Maheshtala, Kolkata, have significantly risen over the past few years. Real estate experts have forecasted that the growth will also continue in the upcoming years. 

Residential Real Estate vs Other Asset Classes 

Let us undertake a comparative analysis between real estate and other asset classes: 

Residential Real Estate vs Stocks and Mutual Funds 

Residential real estate has better long-term potential than stocks and mutual funds because the asset class is much less volatile than stocks and mutual funds. Returns generated by mutual fund investments are linked to market movements, making it difficult for investors to know how much they will earn. 

Residential Real Estate vs Bonds 

Both bonds and residential real estate are stable income sources. But, the latter tends to carry more credit risk than bonds because a lot depends on tenants of real estate making timely payments. When compared to residential properties, bonds are invariably more liquid.

Residential Real Estate vs Gold

Residential real estate generates better returns and additional rental income, unlike gold. But gold, as an asset class, is a safer bet. It also offers the benefit of high liquidity, unlike residential real estate.

Residential Real Estate vs Commercial Real Estate 

Commercial real estate has greater demand and better rental prospects than residential real estate. However, it offers fewer tax benefits, and the investment cost is also higher.

The table below compares the various asset classes based on their volatility, liquidity, ticket price and risks. 

ParametersResidential Real EstateStocks & Mutual FundsGoldBondsCommercial Real Estate
LiquidityLow High High Moderate Low 
RiskLow High Low Moderate Low 
VolatilityLow High LowLow Low 
Ticket SizeHigh Varies LowVaries High

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Steps to Invest in Residential Real Estate in Maheshtala 

Given below are the steps to invest in residential real estate in Maheshtala: 

Step 1: Set up a budget and conduct a market survey on residential properties that have the potential for price appreciation in the near future. 

Step 2: Shortlist the best properties you can find and conduct a ground survey to get a better idea about their potential value.

Step 3: Finalise a residential property according to your investment goals. 

Step 4: Complete the financial transaction with the seller. After that, check whether the foundation certificate, title deed and property assessment extract are in place. 

Step 5: Do not forget to complete the formalities related to stamp duty and registration charges to transfer the property in your name. 

Final Word

Many residential complexes are coming up in Maheshtala, which is why it is a very sought-after area near Kolkata. Residential real estate in Maheshtala has bright prospects, so do not hesitate to take the help of a real estate broker to find the right investment. Furthermore, consider purchasing an insurance policy to safeguard your investment. 

Frequently Asked Questions 

What is the carpet area? 

An apartment’s total usable floor area is known as the carpet area. It includes the internal partition walls but excludes service shafts, external walls, verandas, exclusive balconies, and open terrace areas.

What is a super built-up area? 

The built-up area, along with the proportionate areas of common areas in an apartment, including lobbies, stairs, and lift shafts, is together known as a super-built-up area. 

What is an Agreement of Sale? 

The Agreement of Sale is the document containing the terms and conditions of a property sale that the parties involved had agreed upon. Based on this document, a conveyance deed is prepared. 

What is a Conveyance Deed? 

A seller provides a Conveyance Deed to the buyer to transfer a property’s ownership. After the construction is complete, its completion certificate gets handed over to the property owner. Owning this document proves that a given property is free from restrictions or legal disputes, and it states the name of its legal owner.

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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.

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