So, 2018 Union Budget has finally rolled out and we have not seen any direct impact on the real estate sector. Real estate sector turns out to be one of the most central sectors of Indian economy as it is the second largest employer in the economy, contributing an annual of 5-6% to GDP. Not just that, the contribution from this industry is estimated to grow at a compounded annual growth rate (CAGR) of 30% over the next 10 years. In spite of such importance, budget 2018 caused little cheer for the real estate sector as they are struggling with a credibility crisis, the impact of demonetization, regulatory reforms, and low interest, on the whole.
Call Out for Affordable Housing
However, 2018 Budget has set a mark for affordable housing. 'Housing for all' is turning out to be one of the main projects of the government by 2022. The government intends to deliver 10 million houses under this project, out of which 95% of the houses will be built for the Economically Weaker Sections (EWS) and Low Income Groups (LIG). As the affordability of this section along with the house value is quite low, the impression of smallest upward cost pressure is amplified and becomes a deal breaker.
As per Santosh Runga, former President of builders’ body, CREDAI, the push for affordable housing has been continuous as setting up an affordable housing fund under the National Housing Bank is a clear proof of that.
With that being said, the effect of Budget 2018 was prevalent on real estate Kolkata projects as well and we can see the city coming up with more affordable housing projects with a class apart facility to suit the budget of the people across all walks of life. One such housing project that is creating news in the town is the New Kolkata housing project, under the supervision of the renowned Alcove Realty.
New Kolkata Real Estate Project
The New Kolkata housing project is creating a lot of news in the real estate Kolkata sector, as it is not just a mere housing project but will provide its potential residents with the facilities of a small town. The project is being developed on a whooping 300000sq.ft area and it is the tallest project on the banks of River Ganga. Yes, with Ganga by its side we cannot hold on to our excitement to see how the project turns out to be. The Alcove Realty is one of the best real estate agents in Serampore, Hooghly area who are providing affordable housing under this project without compromising on the high standard of living with luxurious facilities. If you are finding a luxurious housing project which will not burn your pocket, we bet this is the best one for you. Why are we saying so? Here are the reasons.
Reasons to Dig into the New Kolkata Project
1. Your pocket will thank you as you'll get 1BHK, 2BHK and 3BHK flats from this real estate agent in Serampore, Hooghly area within 23lakhs.
2. The New Kolkata project has the best connectivity with rail, road, and river.
3. It is the biggest and tallest township project on the banks of River Ganga that will allow you to breathe in fresh air.
4. Discover the enjoyment from private jetty with ferry services for a whole new experience.
5. The area includes air-conditioned indoor game space.
6. There is a swimming pool with the poolside deck as well as a kid’s pool.
7. Presence of air-conditioned playing ground for the kids and the toddlers.
8. Presence of reading room.
9. Outdoor meditation and yoga hall along with jogging track and calisthenics workout area to keep you fit, strong and in shape.
10. Other facilities of the in-apartment clubhouse include a hi-tech gym, shower area, kitchen and cafeteria for the foodies, and an activity hall. The other amenities include an underground parking area, power backup, DTH service, children’s park, cycling track, landscaped garden area, and a riverside promenade.
Hence, we can wrap up on the note that with the 2018 Budget, one can actually get affordable housing under the New Kolkata housing project from the real estate Kolkata sector. The project brings forth a perfect blend of affordable housing with all the luxury facilities that will promote a peaceful and high standard of living.
Budget 2018 on Real Estate Sector, Real Estate Kolkata