Why Single Women are Buying Luxury Apartments in Kolkata?
Society is changing and it is leaving an impression in Kolkata as well. Single women are buying luxury apartments in many Indian cities and Kolkata is also seeing a rise in this trend. Sociologists and real estate experts are finding many reasons behind this trend. First of all, there is the rising literacy rate among Indian women. They are getting a similar education as Indian males. They are successfully qualifying for high profile jobs and thus earning financial independence. The medieval draconian laws have been repealed or modified by the government. Take for example, it is no longer mandatory to produce a male signatory in order to apply for home loan. Women are not waiting for Mr. Right or to get married and shift to his place. In contrary, they are purchasing their own apartments and leading an independent life.
Reasons for making investments in luxury apartments in Kolkata
1. Independence: Women want to celebrate their self-independence and what better way than to own a luxury apartment in Kolkata. For the well-qualified engineering graduates, there is no dearth of employment opportunities in Kolkata. The IT-hub of Salt Lake City and SEZ areas of Rajarhat and New Town houses the offices of many reputed multinational and national companies. Many single women are employed in high-paid jobs. Even if they have parental properties in and around Kolkata, there is a rise in flats booking by single women.
They want to stay near their workplaces. Thus, their favourite locations are Salt Lake City, the Smart cities of New Town and Rajarhat and the residential areas set around the EM bypass. The driving distance from these locations is well within an hour. So, even after working late night shifts, they can easily get back home.
2. Investment: Young home buyers are purchasing apartments for the purpose of investment as well. Not only men but also single women are investing in luxury apartments in the view of selling them for a fortune in near future. Those who are buying properties for this purpose are putting in more emphasis on the location and neighbourhood. These two factors severely impact the property value appreciation.
Kolkata has an upper hand over other cities. The price of luxury properties is comparatively lower. The environment is women friendly. The cost of living is more affordable. Thus, people are more interested to buy properties in Kolkata. For the purpose of investment in luxury properties, Kolkata is a more suitable place.
3. Status: It is a well-known fact that real estate properties are signs of wealth. Single women who have the financial capability of purchasing luxury properties in Kolkata invest in them. They utilise it as an end user and proudly flaunt their status.
4. Security: Unlike the national capital city of New Delhi and its satellite cities, Kolkata is comparatively safer for women. The areas of Salt Lake City, Rajarhat-New Town and neighbourhood of EM bypass are patrolled by city police. Apart from that, builders in Kolkata install advanced surveillance equipment with luxury apartments which add an extra layer of security for the single women.