Guide for Barasat Residential Real Estate Investment

Barasat is a small city and municipality in West Bengal in the district of North 24 Parganas, which comes under the Kolkata Metropolitan Development Authority. It is a major regional transport hub, located in the Ganges Delta with active rail and road junctions. Barasat offers various connectivity links across West Bengal.

Barasat has a tropical climate, with heavy monsoons between June and September. As of the 2011-23 census, Barasat has a total population of 278,435. The literacy rate is about 89%, and the rate of urbanisation is also high here. 

Keep reading to get a comprehensive guide on residential real estate investment opportunities in Barasat. 

Top Reasons to Invest in Residential Real Estate in Barasat

If you are curious, here are some reasons to invest in residential real estate properties in Barasat. 

• Great Connectivity

One of the best qualities of Barasat is its connectivity across West Bengal, located beside Jessore Road. Some roads passing through Barasat include NH 12, NH 112, Taki Road and Barrackpore-Barasat Road. NH 35 and State Highway 2 also run through Barasat, which increases its connectivity. Moreover, it is only 20-30 minutes away from Kolkata Airport and Sector V IT hub in Salt Lake. It has a well-connected railway across Sealdah, Bongaon, and Basirhat. 

• Local Facilities 

Barasat is working on its civic and social infrastructure, ready to compete with developing areas like New Town and Rajarhat. It has great hospitals and nursing homes in the surrounding area, Barasat Cancer Research & Welfare Centre being one of these. It is also a good place for education, with multiple schools and colleges around the locality, including Barasat University. Moreover, it is a perfect place for sports lovers, with Barasat Stadium frequently hosting football matches. 

• Clean Neighbourhood & Affordability 

Barasat offers a good and clean neighbourhood for the residents. It is surrounded by a safe environment, and the residents have no risk of being exposed to criminal activities. Moreover, it offers affordable residential properties, which is another benefit. The price of a basic 1BHK property starts from ₹8.5 lakhs, which is affordable for most people. 

Residential Real Estate Investment Opportunities in Barasat

Here are some locations in Barasat that have great residential real estate properties to settle. 

Larica Township

It is a great ready-to-move housing society located on Barasat Barrackpore Road. With various levels of general and studio apartments with independent floors, this society has gained popularity considering various budget ranges. It offers great connectivity with the Barasat Hospital, SKM Hospital, Star Mall, Barasat Government College, Barasat Railway Station, etc. The starting price is quite low, at only ₹10 lakhs. 

Magnolia Fantasia 

Sprawling over 2.47 acres, this residential property is still under construction. It is currently offering 224 units. The 1BHK flats start from ₹14 lakhs, which are usually 448 sq. ft. There are various local facilities here. This society is near DPS Moyna Kalyani Public School and has great connectivity to Brainware University, Bamangachhi Station, various banks and hospitals. 

Fortune Township 

It is another ready-to-move apartment society in Barasat. It offers 21 towers with a total of 650 units on each floor. A 1BHK apartment is about ₹19 lakhs, which is about 575 sq. ft. It has good connectivity with Kazipara HES High School, Kazipara Railway Station, Brainware University, North 24 Parganas District Hospital, Barasat Police Station, etc. 

Things to Consider Before Investing in a Residential Property in Barasat

Various factors should be considered to avoid making a mistake in the choice of residential property. Here are some factors you should keep in mind while investing in residential real estate properties in Barasat. 

• Location 

While Barasat is a developing area, some parts are always better than others. It is important to choose such locations that are closer to hospitals, schools, and police stations and have good transportation. Moreover, try to get an idea of the neighbourhood to understand if it is suitable for residence. 

• Budget 

Your budget naturally plays an important part when it comes to investing in a residential property. It is essential to check the prices that you are getting from different societies and compare them with other factors. Choose the best option keeping both your budget and the offer in mind. 

• RERA Authentication

Indian Parliament passed the Real Estate Regulatory Authority bill in 2016 to keep a check on just and equitable transactions between buyers and sellers of real estate properties. The website of RERA has the details of registered residential properties across West Bengal. You can conduct your research from this website to ensure that the property you choose is authentic and registered under RERA. 

Stamp Duty in Barasat

The stamp duty in West Bengal is as follows. 

Here are some additional details about stamp duty in West Bengal.

• Property Location: Rates for residential properties are relatively cheaper in rural areas than that in urban areas. 
• Property worth: Stamp duty rates of West Bengal are lower for properties that cost less than ₹ 1 crore. 
• No consideration of gender: West Bengal does not offer any rebate if the property is in the name of a woman. In many other states, there is this gender consideration. 

Registration Charges in Barasat

Irrespective of the location, the registration fee for any residential property remains the same in West Bengal, which is 1% of the total charges. Thus, the registration fee for such properties will be 1% in Barasat as well. Here is a list of registration charges in West Bengal. 

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

Barasat is rapidly urbanising, with a special focus on the real estate sector. Various new projects are starting to enhance this sector in this area. Some of these include Cosmos Green City, Riya Oxford Square and Pushpakalay Apartments. All these are going to be urban properties, with a focus on mid-range amenities for the residents. 

Keeping this in mind, the government of West Bengal has decided to extend the stamp duty rebate window across the year. This is likely to boost this sector even further in areas like Barasat and Madhyamgram. Barasat will possibly gain more investors with the growing popularity of its residential property sector. 

With good connectivity to the city, and other amenities like schools, colleges, hospitals and shopping malls, Barasat is undoubtedly experiencing success in terms of residential properties. It will be perfect for current investment in this field. 

Residential Real Estate Vs. Other Asset Classes

Now, you might wonder how investing in residential real estate can be more profitable compared to the other asset classes. Here are some differences between the two kinds of assets to give you an idea. 

• Residential Real Estate vs. Stocks

Stocks and mutual funds have developed as major industries for investment. However, the volatility and unpredictability of the stock market have always been evident since back in time. As a result, annual returns may vary largely due to the changes in the market. On the other hand, real estate properties are less sensitive to market fluctuations and can generate better returns with time. 

• Residential Real Estate vs. Bonds

Bonds and similar fixed-rate vehicles can also be good investment options. While they offer lower returns, they are much more secure for investment in a fluctuating market. However, the ROI is much less compared to the real estate properties, which guarantee a higher return with the economic conditions. 

• Residential Real Estate vs. Commercial Real Estate 

Commercial real estate properties are used to rent to individuals or organisations for business purposes. These properties offer better returns, as their rents are usually higher. However, it is always a challenge to find the right tenants for renting commercial properties. Tenants are easily available when it comes to residential properties. 

• Residential Real Estate vs. Gold

Gold is a popular investment option in India for a long time. Its price is usually high and serves as a major asset. However, the liquid market of gold often results in lower returns. As you can easily buy or sell it, its value might diminish. On the other hand, a real estate property guarantees better returns. 

The following table will help you understand this comparison even further. 

Steps to Invest in Residential Real Estate in Barasat

Step 1: Plan your budget and requirements for a residential real estate property. 

Step 2: Run research and compare different locations. Shortlist a few of these. 

Step 3: Visit the location and inspect it thoroughly. Consult professional real estate consultants or brokers in the area. 

Step 4: Check whether the chosen society is registered under RERA. Consider other reviews about its quality. 

Step 5: Contact a lawyer and complete the process of purchasing the property legally. Collect necessary details like the encumbrance certificate and the sales deed. 

Step 6: Complete your payments for stamp duty and registration charges. Get insurance to avoid damages to your new property. 

Final Word

That should give you a wholesome idea regarding the residential real estate properties of Barasat along with the investment opportunities. Make sure to evaluate all your options, and consult a professional before making the final choice. Try to get insurance as soon as possible after making the purchase. 

Frequently Asked Questions